Turn on thread page Beta

Should i pay off student loan?? watch

Announcements
    • Thread Starter
    Offline

    2
    ReputationRep:
    Hi
    I am 24 and a postgraduate here in Northern ireland. My fees for my masters are paid however i have £14k of student loans from my undergrad to pay. I am currently on plan 1 and earn over £21k in my job. The current interest is 1.5% which is low, is it worthwhile paying off a chunk or letting it come out of my wages?
    • Section Leader
    • Very Important Poster
    • Peer Support Volunteers
    Offline

    21
    ReputationRep:
    Section Leader
    Very Important Poster
    Peer Support Volunteers
    (Original post by loanshark)
    Hi
    I am 24 and a postgraduate here in Northern ireland. My fees for my masters are paid however i have £14k of student loans from my undergrad to pay. I am currently on plan 1 and earn over £21k in my job. The current interest is 1.5% which is low, is it worthwhile paying off a chunk or letting it come out of my wages?
    Have you figured out whether you d every pay the full amount back over years, if you will then yes pay it off, if not then don't bother.
    • Thread Starter
    Offline

    2
    ReputationRep:
    (Original post by claireestelle)
    Have you figured out whether you d every pay the full amount back over years, if you will then yes pay it off, if not then don't bother.
    I will probably pay it all off because interest rates will likely rise. But everywhere i look people are saying dont bother and let it come out of my wages.
    • Section Leader
    • Very Important Poster
    • Peer Support Volunteers
    Offline

    21
    ReputationRep:
    Section Leader
    Very Important Poster
    Peer Support Volunteers
    (Original post by loanshark)
    I will probably pay it all off because interest rates will likely rise. But everywhere i look people are saying dont bother and let it come out of my wages.
    If you know you ll pay it all off it could be better to have that more money in the future
 
 
 
Poll
Cats or dogs?
Useful resources

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.