Laura Suter, individual finance analyst at A.J. Bell, claims: ‘Annoyingly for moms and dads there is absolutely no simple response to the concern. You will need a crystal ball to see just what job your son or daughter goes into, simply how much they shall make, and just how much their salary will increase. ‘
In the event that you suspect your son or daughter is likely to be a high-earner then paying down the loan could save yourself them thousands of pounds in interest costs.
A.J. Bell states the ‘tipping point’ of which a graduate having a ?50,000 loan will probably pay back more than they usually have lent comes when they begin their profession in employment having to pay ?28,000. Read more