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  • FIRST POST
    • NachoGR
    • By NachoGR 6th Sep 17, 9:43 AM
    • 8Posts
    • 2Thanks
    NachoGR
    Student Loan
    • #1
    • 6th Sep 17, 9:43 AM
    Student Loan 6th Sep 17 at 9:43 AM
    Hi,

    my sister wants to go for a student loan as she is an EU student coming for 1-year degree ( masters degree ). I have some questions in whether it's beneficial to take a student loan.

    From what I understand, interest and repayment starts after her first salary above a threshold. But the minimum payment is so low, that if she continues with the minimum the overall amount will be almost double by the date is fully repaid.

    I am not sure about the early repayment so I am asking whether the below scenario is a valid one :

    1) My sister takes a student loan.
    2) I help her repay it before even the interest starts ( meaning before she starts working ).

    Or in other words, I can either stuggle and give her the whole fee now - or pay that gradually in the next 12 or 18 months, where there is no interest charged on her loan.

    Can I do that ? Or should the loan be repaid by her salary? I see there is no fee for that, but... is it true?

    Many thanks
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