Advantage if Student Loan paid into Student Account? Watch

Bluechip-
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#1
Report Thread starter 11 years ago
#1
Hi all,
Basically as in the title, is it in any way an advantage to have the loan paid into the student account? I just thought that having one account for everything student related and my other current account, which has my savings over the past couple of years, separate it might be easier to manage my finances, etc. At the moment, the loan is scheduled to pay into my current account but ive been wondering about this.

Any thoughts?
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miki_da_magpie
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Report 11 years ago
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I've got three accounts now, and it is gettin a bit confusing what goes in where. But if you can get internet banking... (natwest do) then its well easy as you can transfer funds back and forwards and its instant. I had my loan paid into my student account, and if I had too much in my student account I would transfer it to my savings account (to get more interest). So I would have like a minimum of 300 quid on my student account, and the rest in my savings... works for me
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Bluechip-
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thats a good idea! tho wouldn't work for me as i cant get involved with anything interest related.
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Saaa
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#4
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how come?
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snu
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Perhaps the OP is Muslim? Although in that case he probalby shouldn't be taking out a student loan
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Bluechip-
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yep.
but the loans accrue interest at the rate of inflation so thats okay. only if its > that to acquire profit is it no longer acceptable. not sure, but i think thats the case :s
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snu
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#7
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Depends on your interpretation of the Qur'an, I believe.
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