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    (Original post by somethingbeautiful)
    Eh? I'm not disputing you, but what do you mean? I opened an ISA last year and have X amount of cash in it - why would 'X' change at all (other than through a tiny amount of interest)? I viewed it like having a sort of piggy bank (on a larger scale...). What do you mean when you say cash in an ISA can 'lose its value'?
    Think about it this way, inflation is around 4% so prices are rising and the rate of interest is around 1.5% or so...so while prices are rising, the money you have is effectively losing its value if you see what I mean. It won't be so much that you will notice it but it will be a little. It's why people want wages to rise in line with inflation or above...
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    (Original post by bigmo7)
    Think about it this way, inflation is around 4% so prices are rising and the rate of interest is around 1.5% or so...so while prices are rising, the money you have is effectively losing its value if you see what I mean. It won't be so much that you will notice it but it will be a little. It's why people want wages to rise in line with inflation or above...
    And the outcome is I shoudl keep the loan or not...
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    (Original post by themango)
    And the outcome is I shoudl keep the loan or not...
    Keep it, you might as well...chances are the BoE will increase the rate of interest in the future and/or the rate of inflation will fall.
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    (Original post by NebulousPhantasm)
    Why? Student Loan is the best loan you'll ever get. You're better off keeping the money, and paying it off slowly, especially if you want to buy a car or put money down for a house later in life.
    This. So long as you expect to have to borrow money in the future (even if it seems a long way off before you need to buy a house) you might as well keep the loan and pay it back as slowly as possible. Unless when you finish uni your parents are going to buy you a house and a car etc and you're not going to have to borrow a dime then there's little point paying it back early (I was considering getting my parents to pay mine back early rather than give me money for uni until I realised this).
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    (Original post by Berkz)
    Theres no harm in keeping student loan as well, why do people think student loan is bad, its actualy the best thing ever. Just keep it. Don't think you can pay it back in one lump sum, then they will ask why you applied for it in the first place.
    Please ignore this, it is nonsense. You can pay off as much as you like whenever you like in extra payments. Just call SLC and ask them. It's none of their business why you took the loan - everyone is entitled to it and if someone's circumstances change of course they're not going to give you the spanish inquisition.

    Much as people are saying don't rush to pay it off, and I do agree with them, I hate having debt hanging over my head, so can see why you'd want to pay it off.
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    (Original post by modgepodge)
    Please ignore this, it is nonsense. You can pay off as much as you like whenever you like in extra payments. Just call SLC and ask them. It's none of their business why you took the loan - everyone is entitled to it and if someone's circumstances change of course they're not going to give you the spanish inquisition.

    Much as people are saying don't rush to pay it off, and I do agree with them, I hate having debt hanging over my head, so can see why you'd want to pay it off.
    Can you read fool.? It says "THINK" means im not stating facts. Anyway, why would you say no to student finance and get funding from else where when its the best option you have? And as you say EXTRA payments, the OPer clearly does not want to pay extra, so to not pay extra you would need to explain why you took it in the first place. So from now on read properly and understand before you comment. Oh yes, and LOL everyone is not entitled to student finance i don't know where you got that information from. SNM..
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    If you insist on paying it back early, you can do it online ... login in with your customer reference number and the same secret answer and password as the regular student finance service.

    http://www.studentloanrepayment.co.u..._schema=PORTAL
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    (Original post by Berkz)
    Can you read fool.? It says "THINK" means im not stating facts. Anyway, why would you say no to student finance and get funding from else where when its the best option you have? And as you say EXTRA payments, the OPer clearly does not want to pay extra, so to not pay extra you would need to explain why you took it in the first place. So from now on read properly and understand before you comment. Oh yes, and LOL everyone is not entitled to student finance i don't know where you got that information from. SNM..
    Ok, so you thought that, you thought wrong so I corrected you.

    When I said you can make "extra payments" I mean, on top of what you have to pay back when you start earning. For example, I've been working for 2 years, paying back around £70 per month (not optional - just taken from my pay like tax). At any point I could have written a cheque for any amount and sent it to SLC, thus making an extra payment. Which is what I assume the OP is asking how to do.

    Ok so not EVERYONE is entitled to student finance, but if you're a UK national going to a UK university, you are entitled to a basic loan and tuition fee loan, no questions asked. (Obviously if you are not a student, you are not entitled to student finance). If you call Student Finance and say you want to pay off some of your loan, they are NOT going to say "well if you're paying it back why did you need it in the first place", which is what you seemed to be implying.
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    Invest in some form of medium risk fund you should be able to return 8 ish percent if the market stays good.
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    To make voluntary payments on your student loan you log in here:

    https://signin.slc.co.uk/pls/orasso/...co.uk/sso/auth
 
 
 

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