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MSE News: 100,000s face student loan interest hike

Former_MSE_Guy
Former_MSE_Guy Posts: 1,650 Forumite
I've been Money Tipped! Newshound! Chutzpah Haggler
in Student MoneySaving
This is the discussion thread for the following MSE News Story:

"Many graduates face a rise in the interest charged on their student loan from next month ..."
Read the full story:
100,000s face student loan interest hike



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Comments

  • edinburgher
    edinburgher Posts: 13,950 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    The link in the news article refers to 'student laon interest'
  • Joe_Bloggs
    Joe_Bloggs Posts: 4,535 Forumite
    Shod have tiered a spiel chocker
    J_B.
  • davidgmmafan
    davidgmmafan Posts: 1,459 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Just wondering if anyone here knows what David Willets is going on about. Just heard him on the radio saying student loan debt isn't a real debt. Fair enough I can follow that. Is he totally unaware that many students also take on lots of REAL debt simply to live?
    Mixed Martial Arts is the greatest sport known to mankind and anyone who says it is 'a bar room brawl' has never trained in it and has no idea what they are talking about.
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    davidgmmafan wrote: »
    Just wondering if anyone here knows what David Willets is going on about. Just heard him on the radio saying student loan debt isn't a real debt. Fair enough I can follow that. Is he totally unaware that many students also take on lots of REAL debt simply to live?

    People aren't as outraged at overdraft amounts and other commercial student debt as they are the student loan debt, so it won't be the topic of conversation ;)
  • sexymouse
    sexymouse Posts: 6,131 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    In real terms, does this mean that we should start making overpayments on our loans, or is the interest still low enough that we shouldn't worry about it?
    Enjoy the little things, for one day you may look back and realize they were the big things.
    I married Moon 8/4/2011, baby boy born 26/9/2012, Angel Baby Poppy born 8/11/15, Rainbow baby boy born 11/2/2017
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    sexymouse wrote: »
    In real terms, does this mean that we should start making overpayments on our loans, or is the interest still low enough that we shouldn't worry about it?

    Depends if you are pre or post 1998. Pre would give more reason to.
  • sexymouse
    sexymouse Posts: 6,131 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    I'm post 1998
    Enjoy the little things, for one day you may look back and realize they were the big things.
    I married Moon 8/4/2011, baby boy born 26/9/2012, Angel Baby Poppy born 8/11/15, Rainbow baby boy born 11/2/2017
  • Lokolo
    Lokolo Posts: 20,861 Forumite
    Part of the Furniture 10,000 Posts
    sexymouse wrote: »
    I'm post 1998

    Post 1998 still pays only 1.5%. You can get 3% ISAs.

    For every £100 you overpay you are missing out on £1.50 profit that you could make from savings. Which may not seem a lot, but if you end up overpaying by £2k a year, then it ends up being £300 of lost profit.
  • smeddum07
    smeddum07 Posts: 7 Forumite
    Does this apply to SAAS (Student Award Agency for Scotland) or only on the english loan company?
  • The_One_Who
    The_One_Who Posts: 2,418 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    smeddum07 wrote: »
    Does this apply to SAAS (Student Award Agency for Scotland) or only on the english loan company?

    Scottish loans are still operated by the Student Loans Company. SAAS give bursaries, travel expenses and the tuition fees.
This discussion has been closed.
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