As the title suggests I'm wondering whether it's worth saving up money and paying off my student finance as soon as I can, or if it's financially better to let the repayments be until they're wiped off.
If it helps, I've just graduated this summer so my repayment beings in April, I have around 10k in savings, and I've started a grad job that is below the repayment threshold so come April i won't even be making payments.
My issue is with sfe repayments and the fact that the amount you owe goes up every year, regardless of how much you pay back. Once I get paid over 27k, likely another year, the amount I owe will be higher and my repayments will be for that higher amount.
Sorry if it's confusing, I'm just wondering if I'm better off making some decent savings over the next few years and just paying it off or if I should wait till i earn 27k and just let sfe take money off me for the next 30 years.