Hi everyone,

I'm thinking about paying off some of my student loan this summer with a lump sum, but I'm slightly concerned as to whether a graduate tax may come into force. I'm worried that this tax would supercede existing student loans, meaning that paying off my Student Loan would be a waste of money. Or would the graduate tax only apply to new students, and not retrospectively?

If anyone knows anything about this, their input would be much appreciated...

I'm just guessing, so this may not be much use, that if the graduate tax came into force it wouldn't effect people with loans already in place or taken out previously. Mainly because the loan was an agreement, so it would be tricky for them to swap it over without our permission - The terms and conditions for us have already been set!

I think we would have to agree to swapping it over, and even then it might not be possible.

As far as I'm aware it would only apply to new graduates - similarly when they changed the tuition fee levels (so existing students would carry on as when they started).

However, I think a graduate tax is going to be highly unlikely.