Laura Suter, personal finance analyst at A.J. Bell, states: ‘Annoyingly for moms and dads there is absolutely no simple reply to issue. You want a crystal ball to see just what job your youngster is certainly going into, just how much they will earn, and exactly how much their salary will increase. ‘
In the event that you suspect your youngster will likely be a high-earner then paying down the loan could conserve them thousands of pounds in interest costs.