Finishing student loan payments

[Deleted User]

I was pretty lucky, in my masters year I got a really good website contract that covered the cost of my course fees and accomadation, otherwise I'd be in a rather less fun 10 grand of debt.

If anyone thinks student loans are bad.. look at 'career developement loans' - the loans that you can get as a post-graduate. They have stupidly high interest rates as they are provided through banks, not the SLC. I'm so glad i wasn't forced to take one.

Montymoo_2

:whistle: oh dont i know it!

pcyam

topdollar wrote:

if you make voluntary payments using credit card to earn cashback or points, does the SLC charge a fee to use the credit card?

Thanks

No, they dont charge a fee. It works out quite nicely for me as I can cashback for repaying my loan :j . so its win-win for me :T

chrisseylange

Can anybody help ,I took a career developement loan with Barclays 4 years ago for stress management and lost contact with my tutor and now I cant find him and the term is now up ,all I have to show for my money is a manual and I am struggling to pay the money back .

beefturnmail

ftbworried wrote:

Does anyone here really worry about paying their student loan off? I mean, to me it's just a small amount of money that comes out of my wages before I get them- like a higher rate of tax. Because I never have it - i dont miss it. Also, they cant come and reposess your house if you lose your job/ get a pay reduction...so I don't really see it as a debt- more a higher rate of tax.

I agree - You're better off saving the money you would use to pay it off in a savings account, since you get charged a low rate of interest for student loans. I guess some people don't like the idea of owing money though

ab7167

Sorry to sound think - I'm in pretty much the same situation in that I only owe a few hundred pounds. But I pay mine by direct debit from my bank account not via payslip - will the direct debits stop automatically once the balance is paid, or do I have to contact someone to make them stop? £144 per month is a lot of money (to anyone, I guess!)
Ali

[Deleted User]

I very much doubt they will stop your direct debit, you've probably got to do it yourself.. just give them a ring and tell them you want to 'settle up' your student loan payments.

PS. It's nice having an extra 85 quid a month, it's like getting a free £1800 payrise