{"id":1097,"date":"2021-01-07T08:39:52","date_gmt":"2021-01-07T08:39:52","guid":{"rendered":"http:\/\/nonewwars.co.uk\/blog\/?p=1097"},"modified":"2021-01-07T09:17:24","modified_gmt":"2021-01-07T09:17:24","slug":"student-loan","status":"publish","type":"post","link":"https:\/\/nonewwars.co.uk\/blog\/2021\/01\/student-loan\/","title":{"rendered":"Student Loan"},"content":{"rendered":"

Had an email from the Student Loan Company saying they’ve listened to my feedback (no, not mine, they did not ask me) and decided I don’t want paper statements any more.\u00a0 One has to log in.\u00a0 Finally managed to log in and, bearing in mind I earn slightly more than the UK national average salary and I’m working full-time<\/em>:<\/p>\n

2020-21 summary<\/span><\/h2>\n

This summary shows any repayments you’ve made along with any interest added to your account since 6 April 2020.<\/span><\/p>\n\n\n\n\n
\n

Salary repayments<\/span><\/p>\n

Any repayments made through PAYE\/Self<\/span>
\nAssessment within the UK<\/span><\/p>\n<\/td>\n

-\u00a3622.00<\/span><\/td>\n<\/tr>\n
Interest added<\/span><\/td>\n+\u00a3721.02<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

I think we can safely say this debt will never get paid off, merely continue to grow<\/strong>.<\/p>\n

On looking at how the payments are divvied up, the undergrad loan has an interest rate of 2.6% and the payment rate is set to be a bit less than the interest rate.\u00a0 The postgrad loan has an interest rate of 5.6% and again the payment rate is set to be a bit less than the interest rate.\u00a0 This is a shyster arrangement, specifically designed to maximise the interest and minimise the chance of reducing the debt.<\/p>\n

No wonder they don’t want to send out annual paper statements, highlighting this egregious arrangement.<\/p>\n","protected":false},"excerpt":{"rendered":"

Had an email from the Student Loan Company saying they’ve listened to my feedback (no, not mine, they did not ask me) and decided I don’t want paper statements any more.\u00a0 One has to log in.\u00a0 Finally managed to log … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[181,85,97,338],"tags":[183,88,98,339],"class_list":["post-1097","post","type-post","status-publish","format-standard","hentry","category-degree","category-education","category-masters-degree","category-student-debt","tag-degree","tag-education","tag-masters-degree","tag-student-debt"],"_links":{"self":[{"href":"https:\/\/nonewwars.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nonewwars.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nonewwars.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nonewwars.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/nonewwars.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=1097"}],"version-history":[{"count":3,"href":"https:\/\/nonewwars.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1097\/revisions"}],"predecessor-version":[{"id":1100,"href":"https:\/\/nonewwars.co.uk\/blog\/wp-json\/wp\/v2\/posts\/1097\/revisions\/1100"}],"wp:attachment":[{"href":"https:\/\/nonewwars.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=1097"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nonewwars.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=1097"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nonewwars.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=1097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}