Finance guru Martin Lewis has broken down the changes being made to university loan repayments that will affect new students from September this year. Speaking on Good Morning Britain with host Susanna Reid during Wednesday's episode (June 28), the Money Saving Expert founder listed the alterations freshers can expect later this year.
He kicked off by discussing the cost of university and pointing out the new student loan repayment system in England. The new system means future graduates will be able to repay more of their load across a longer period of time.
Comparing it to the current system in place, Martin said: "From the April after you leave university, you start to be eligible to repay the student loan. On the current system, you repay nine percent of everything over £27,295. From the new system, it will be nine percent over £25,000.
