Original post by j.xxxxxj
Is there any benefits to voluntary payments? What if I Can’t lay off the loan by the 30 years
Are you likely to pay off the entire balance within 30 years? If not, then absolutely no point in making additional payments. Even if you are likely to pay off the loan within 30 years, you have to balance whether having additional money now by not making additional payments is more beneficial to you than having more money in 20-30 years by paying off the loan early. I'd argue it's probably more beneficial to you now at the start of your career. You can put the extra money towards a house, investing, etc.
Quick Reply
Related discussions
- Applying for Student finance for a PGCE + changes to loan repayments
- Student finance repayment advice/help
- Student finance for Graduate dentistry
- Plan 5 student finance repayment
- Student finance 2023 for transfers
- Masters to PGDip
- Dropping out of masters degree
- Part-Time Open Uni Study - Which Repayment Plan?
- Owing student finance money
- Special Support loan
- Student finance
- Change in marital status when loan is in repayment
- Student loan
- Fees and grants
- Maintenance Loan after Dropping Out
- Part time work
- Finance plans for topping up foundation degree
- Student Loans
- Student Finance repayments
- Student finance advise
Latest
Trending
Last reply 2 weeks ago
Can i receive student finance while on Universal credit and PIP?Posted 1 month ago
Student Finance ineligible, dubious reasons , re-evaluation and appealsLast reply 1 month ago
2024 applicants: do you understand how student finance works?Last reply 1 month ago
withdrawn from university due to non payment of tuition feesTrending
Last reply 2 weeks ago
Can i receive student finance while on Universal credit and PIP?Posted 1 month ago
Student Finance ineligible, dubious reasons , re-evaluation and appealsLast reply 1 month ago
2024 applicants: do you understand how student finance works?Last reply 1 month ago
withdrawn from university due to non payment of tuition fees
