Student finance discount (?)
I saw on tiktok (not a very reliable source but wanted to check) about if you start repaying your student loan early you get a discount?
Does anyone know any information about this? I've been trying to Google it but not sure if I'm searching the right thing or if it's even true
Does anyone know any information about this? I've been trying to Google it but not sure if I'm searching the right thing or if it's even true
Original post by yazksj
I saw on tiktok (not a very reliable source but wanted to check) about if you start repaying your student loan early you get a discount?
Does anyone know any information about this? I've been trying to Google it but not sure if I'm searching the right thing or if it's even true
Does anyone know any information about this? I've been trying to Google it but not sure if I'm searching the right thing or if it's even true
Repaying early might make sense if you are going to be a very high earner once you graduate, but for the vast majority of students it doesn't. A more reliable source than tiktok that explains it well:
https://www.moneysavingexpert.com/students/repay-post-2012-student-loan/
The student loan has interest each year so you don't get a discount but it is cheaper if you pay it off earlier however I wouldn't pay loads of money at the start like from savings
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