Welcome to the student debt trap calculator for Plan 2. This calculator was built because all others are inaccurate. The government has made the student loan system so complicated that all other calculators make it impossible to accurately show you how much your degree will cost you.
So, download this excel spreadsheet and use it to input your borrowing. This can either be future borrowing to give you an idea of how the debt will accrue and what happens when you start working or you can check to see how much you already owe.
As a parent you can use it to see what happens to the debts for your child so that you may forward plan to help them stop the interest accumulating if you have the ability to make extra payments early enough as the debt is growing..
Anyway, you put in the student loan amount (9k) and the maintenance loan debt in the left columns and then you scroll down to make any salary predictions but be aware that by graduation and starting work the debt has already ballooned out of control because the government charges excessive rates of interest which is compounding..
Student Debt Trap Calculator 