In Review
6Under consideration
Student Loan's Not Being Written Off When Adding Multiple Loans
Firstly, thank you for the excellent tool! I believe there may be an error regarding applying that the loan should be written off, if multiple loans are involved. For example, with the following example parameters: Annual Income: £50000 Plan 1: Current Loan Balance - 25000; Graduation Date 2010 The tool will estimate that the Plan 1 loan will be written off in April 2036, which seems correct. If you add the following Plan 2 loan: Plan 2: Current Loan Balance - 25000; Graduation Date 2020 The tool will now estimate that the Plan 1 loan will be paid off in March 2046, ignoring that it should be written off still in April 2036. Would appreciate if this could be looked into!
Graduation Year
I would like to be able to Input a graduation year in the future 5 years are some courses As I am a current student my income is 0 When I graduate I wasnt to be able to put in future earnings (with a % increase p/a) Your previous cal had some of these features https://www.yourstudentloancalculator.co.uk/
Optional overpayment?
Would be good to add the option of monthly overpayments see how overpayment can impact repayment time line!
Generating reports
There must be an option to generate and download a repayment plan report surely after calculating remaining student loan payments? I cant find anything
Plan 2 is wrong?
@Example 🐛 Bug https://www.studentloancalculator.co.uk/ has a variable interest rate for Plan 2, but I’m pretty sure it’s either 4.3 or 7.3% based on income.
Unigrade calculator
Doesn’t work with the way my degree is calculated, it seems to have an issue with the number of credits etc. My degree is calculated 20% EIS, 40% L5 (2nd year) 60 credits, and then 40% made up of 120 highest credits across L5 & L6. Your calculator won’t let me take more than 60 credits in a year, despite more of my 2nd year being take into account than my 3rd year. It also forces it to take into account the first year, but the first year doesn’t count towards my classification, so I should be able to remove that.
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