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Martin Lewis explains whether a student loan impacts your ability to get a mortgage and other loans.

Speaking to 5 Live鈥檚 Nihal Arthanayake, he said: 鈥淪tudent loans do not go on your credit file. What it affects is your disposable income.鈥�

鈥淚t tends to affect the size of mortgage you can get and whether you pass affordability checks or not. It doesn鈥檛 affect it because it鈥檚 a debt, it affects it because like you pay more tax so have lower disposable income.鈥�

鈥淲e have to get out of this concept of thinking of it as a debt. It鈥檚 misnamed.

鈥淚n other countries, they call it a Graduation Contribution system when it works the same way as ours. This is exactly what I鈥檇 like to see it called.鈥�

Listen back to the Martin Lewis podcast on 蘑菇短视频 Sounds.