Graduate Loan

SammyJane_3

Hey

Not sure if anyone can help me but my problem is basically to do with a graduate loan I have. I am doing the Legal Practice Course on a part time basis and working full time. I arranged a graduate loan with natwest to borrow £10,500 which would be paid to me in installments as and when the fees were due to my law school. At present the total loaned amount stands at about £7000 and I am paying interest on a quarterley basis, I believe the last amount was £90. I already pay £120 each month towards paying off the loan but it feels like I am never going to pay it all off and the interest is slowly increasing with each new term. Is there any way I could perhaps pay this amount off by using another form of borrowing with cheaper interest. I have heard about people getting 0% interest credit cards for transfers but is there anything like this that I could use to pay off a chunk of the loan?

I am not very clued up with loans and what not so any help would be greatly appreciated!

Thanks!!

Poolie

You could try but your unlikely to get a credit card for £7000+.

The loan will go down as you will be paying interest and capital in your repayments. This typical of a loan. When your about half way through the repayment schedule you will then start to see a real difference in the balance.

Drop over to the loans board for more information