Depressing yearly student loan statement – paid off £106 this year, but after interest total amount owed only gone down by £25.
Got the loan in 2001 for about £6,000. As you can see, after eleven years of almost continuous full-time work, I’ve not made a dent – as now owe more than that!
For my loan you only start paying it off when you earn over £18,000. So in my current job I won’t be paying off any at all as I won’t earn enough.
Many people will never pay back these loans. Scrap tuition fees and cancel student debts.