Paying off Student Loan

nick1984

Hi all,

I am going to be graduating soon and have saved the large majority of my student loan in an ISA.

I figure I can make up the shortfall before having to start to make repayments on it. I was just wondering if I have the option to fully pay back the loan in one go, or am I bound by monthly repayments like some traditional loans?

I probably won't do it, but it's nice to know I could be debt free easily if need be.

Thanks in advance

Goldilox

You can make voluntary payments and can pay off as much money as you like - https://www.slc.co.uk - read their section on voluntary payments.

I unfortunately had to use my student loan to live on and couldn't stick it all in an ISA! :-(