This is how long it will take to pay off your student debt, depending on what profession you go into
Try not to cry
Ever since tuition fees were introduced, student debt is one of the main scare factors when deciding to go to university. Paying £27,000 for a three-year booze fest with intermittent crying during coursework hand-ins, some would argue. is an expensive investment to say the least.
Research by My Voucher Codes has calculated how much debt you’ll have by the end of the degree and how much you’re going to pay by the time all that debt has been paid off, depending on what job you choose to go into.
[infogram id=”starting_salary-0″ prefix=”Diw” format=”interactive” title=”Starting Salary”]
According to the data, Mechanical Engineering is the most expensive profession to pursue, paying £72,960 in total with £27,930 interest included within the figure. Journalists are expected to pay the least after the thirty year cut off point, paying £23,563 in repayments with an additional £4,200 in interest.
[infogram id=”average_starting_salary” prefix=”yAt” format=”interactive” title=”Student loan repayments”]
Journalists and publishers are expected to only pay 43 per cent of their student debt before it is written off after thirty years. High flying financial managers have the shortest loan repayment period at thirteen years and nine months, with investment bankers in the city taking just eight months more.
[infogram id=”repayment_period” prefix=”xrx” format=”interactive” title=”Repayment Period”]