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  • FIRST POST
    miketaff1408
    Paying off Student Loan in full
    • #1
    • 8th Dec 12, 5:21 PM
    Paying off Student Loan in full 8th Dec 12 at 5:21 PM
    Hi.

    Mrs MikeTaff has about 15.5k of outstanding student loan debt to clear. She is currently only working part time and so only pays back 32 a month. The current % APR is 1.5 on the loan.

    We are now in the fortunate position of being able to pay off this debt in full within the next month or so.

    My question is this - As the student loans company seems so useless at calculating balances, if I pay off the full balance, how long will it take them to stop the payments from her pay packets? I don't want to be in the position where they owe us money and we have to chase them. Should I pay it all off bar say 2 x 32 to allow them time to sort it?

    Cheers for any advice
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