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When you should pay off your student loan

RabbitMad Posts: 2,069 Forumite

11 September 2006 at 10:30AM in Loans

After reading Martin's article I felt compelled to register on this site and give my tuppence worth.

While I agree with everything he has written, about 2 years ago (in september just after the had applied an interest rate change as inflation was about 3%) I had to advise my wife to pay off her outstanding student loan in one lump sum as she was a higher rate tax payer, had no other debts and had fully utilised her ISA allowance.

Doing the sums even the highest paying savings accounts could not cover the interest once the tax man had taken his cut.

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When you should pay off your student loan

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