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They both make their monthly payments until the loans mature right after 24 months. For instance, fresh graduates will need to have to have at least 6 months' pay slip to qualify for a private loan, if not some banks will require a guarantor. Graduating individual with wages approximating £36,000 a year is probably to repay around £40,500 out from the £55,000 total student loan in the time span of 30 years, with the most existing (July 2017 -August 2017) repayment prices prevailing in the UK marketplace.

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