The Student Room Group
Uni students - Complete our survey >>
Uni students - Complete our survey >>
Uni students - Complete our survey >>

Student Loans

With regard to the 3% interest rate, is that every year or month or how does it work
Original post by James_pa
With regard to the 3% interest rate, is that every year or month or how does it work

It's added on monthly, currently its actually 3%+rpi so my current interest on mine is 5.5%, at one point it was 6.3% for a while. Basically of my £14k debt over 1k of it is from interest after having the debt just short of 3 years:P
(edited 7 years ago)
Reply 2
Avatar for James_pa
James_pa
OP
6
Original post by claireestelle
It's added on monthly, currently its actually 3%+rpi so my current interest on mine is 5.5%, at one point it was 6.3% for a while. Basically of my £14k debt over 1k of it is from interest after having the debt just short of 3 years:P



EXPENSIVE :c
Original post by James_pa
EXPENSIVE :c


After a certain point, many peoples debt will just get wiped, so if it makes it easier try seeing it as a tax :P
Original post by claireestelle
After a certain point, many peoples debt will just get wiped, so if it makes it easier try seeing it as a tax :P


It's either after 30 years or when you reach 65.

Quick Reply

Related discussions

Latest

Trending

Trending

Articles for you