Add a new StudentLoan.fs module to model income-contingent student loan repayments.
UK plans
- Plan 1, 2, 4, and 5 income-contingent repayment — repayments as a percentage of income above the relevant threshold (e.g. 9% above the Plan 2 threshold of ~£27,295/yr).
- Threshold uprating rules (RPI or government policy).
- Write-off after the applicable term (25 or 30 years depending on plan).
- Interest rate calculation (RPI + up to 3% on Plan 2; Plan 5 capped at RPI).
US equivalent (future scope)
- Income-Based Repayment (IBR) — payment as a percentage of discretionary income, forgiveness after 20/25 years.
Proposed core functions:
annualRepayment — payment given income, threshold, and plan type.projectBalance — projected balance over time given an assumed income growth rate.estimatedWriteOff — whether the loan is likely to be repaid in full or partially written off.
Add a new
StudentLoan.fsmodule to model income-contingent student loan repayments.UK plans
US equivalent (future scope)
Proposed core functions:
annualRepayment— payment given income, threshold, and plan type.projectBalance— projected balance over time given an assumed income growth rate.estimatedWriteOff— whether the loan is likely to be repaid in full or partially written off.