To pay off your student loan by age 29, you would need to m…

To pay off your student loan by age 29, you would need to make increasing annual payments over the next 11 years. The total amount repaid in this scenario would be approximately £64,844. The annual payments would start at about £3,713 in the first year and incrementally increase each year, reaching around £8,709 in the final year. This approach ensures the loan is fully repaid within your 20s, accounting for the interest rate of 8.9%.
This strategy requires significant financial commitment, especially in the later years. If you have more questions or need assistance with other scenarios, feel free to ask!​
I need a stiff drink!