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Paying back some of university loan whilst still at uni watch

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    I've got a bit of spare cash lying about and thought I could use it to pay back a small amount of my loan. How would I go about doing this, is it even possible? I don't want to pay back £15 a week or whatever it was, I just want to make a one off payment I haven't decided quite how much yet but probably around £4000. I don't even know if this is a good idea. Any help?
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    (Original post by Thud)
    I've got a bit of spare cash lying about and thought I could use it to pay back a small amount of my loan. How would I go about doing this, is it even possible? I don't want to pay back £15 a week or whatever it was, I just want to make a one off payment I haven't decided quite how much yet but probably around £4000. I don't even know if this is a good idea. Any help?
    Yep, you (or any of your family if they want) can make repayments on your student loan whenever you like

    Simply visit:

    www.studentloanrepayment.co.uk
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    aha, thanks.

    Dunno if you can help here; is it a good idea? :p:
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    i dont really see the point. shove it in a high interest bank account.
    the interest rates are so low on your student loan. i think you'll always be better off leaving the money in a high interest account, rather than paying it off early
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    http://www.studentloanrepayment.co.uk/interest says the interest payable at the moment is 0% (really?).

    I'd hold onto the cash.
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    (Original post by didgeridoo12uk)
    i dont really see the point. shove it in a high interest bank account.
    the interest rates are so low on your student loan. i think you'll always be better off leaving the money in a high interest account, rather than paying it off early
    how exactly do you find a HIBA, please? i'm interested in doing this
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    Save it. Since you're not going to need it you could put it in one of these fixed term accounts that earn 3.6% for 1 year or 4.5% for 2 years. Look around a bit though.

    http://www.moneysavingexpert.com/sav...interest#fixed

    The one year one would get you an extra £144 and the 2 year £368.
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    (Original post by dichr0ic)
    how exactly do you find a HIBA, please? i'm interested in doing this
    i really dont have a clue. i have a natwest 2-isa, which suits me as i can move money in and out at will.

    others you cant access your money as readily, but you get higher interest rates. either wait for someone else on here to give you proper advice, or just go on bank websites, and search around till you find something that meets your needs
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    (Original post by didgeridoo12uk)
    i really dont have a clue. i have a natwest 2-isa, which suits me as i can move money in and out at will.

    others you cant access your money as readily, but you get higher interest rates. either wait for someone else on here to give you proper advice, or just go on bank websites, and search around till you find something that meets your needs
    ok thanks
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    I think its a waste of that money if you use it to pay your loan off. You could make money on it if you invest it.
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    (Original post by dichr0ic)
    ok thanks
    look at the ones on this page http://www.moneysavingexpert.com/sav...-best-interest

    and try the moneysupermarket / other comparison sites.

    Internet easy access ones are useful. I transfer my student loans/ bursaries over as soon as i get them and then move whatever i need back to my normal account each month. I keep my interest free overdraft from my student account in there too. I'm getting about a tenner a month in interest.
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    (Original post by subterfuge)
    look at the ones on this page http://www.moneysavingexpert.com/sav...-best-interest

    and try the moneysupermarket / other comparison sites.

    Internet easy access ones are useful. I transfer my student loans/ bursaries over as soon as i get them and then move whatever i need back to my normal account each month. I keep my interest free overdraft from my student account in there too. I'm getting about a tenner a month in interest.
    :hugs: that is ingenious!

    my browser is playing up right now, but i'll be sure to look at these sites

    thanks!
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    Are you allowed to pay the tuition fees in cash?
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    I don't think they have desk where you can turn up with a bag full of notes. You'll need to send a cheque.
 
 
 
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