Average student debt?

Oldernotwiser

pinkcloudnine wrote: »

Although the debt is horrendus to me & to him,it is the barest minimum he could have had. as now interest free, he will start paying it off in chunks when he joins the police in the near future.

Do you both realise that rhis really isn't the most sensible thing to do?

neas

Yep if he can get more interest on the lump sums than he gets charged for student loan then he is 'earning' the difference.

I.e Student Loan is at 0% so he gets charged 0 pounds in interest
If he had 3k to pay it off he could.... but he still get charged 0 pounds in interest.

However if he locked the 3k a way for a year at 3% his 3k would become £3090 :P...

Kinda little chunks but it all helps in the long run.