Martin Lewis has issued a warning for all hopeful students considering starting university in England this September.
It was announced last year that students starting university courses in 2023/24 will have to begin paying back their loans once they begin earning more than £25,000. This is compared to previous students who only had to begin paying back their loans once they began earning more than £27,295.
According to the government, this means a graduate earning £28,000 would pay back £17 a month. Furthermore, interest rates will be cut for new students so their loan balance rises with the rate of inflation while the repayment period will be extended to 40 years.
