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Disheartened by my student loan :(

N3WLIFE
N3WLIFE Posts: 135 Forumite
Just manage to find my login details for the SLC website. haven't checked it for years

Turns out I currently owe £25,839.18.


And it says that is with all the interest calculated up until 31/03/2010.

God only knows how much it actually is right now :(

Whats the point....................
«13

Comments

  • N3WLIFE wrote: »
    Just manage to find my login details for the SLC website. haven't checked it for years

    Turns out I currently owe £25,839.18.


    And it says that is with all the interest calculated up until 31/03/2010.

    God only knows how much it actually is right now :(

    Whats the point....................


    on a plus note when u reach state retirement age u wont owe a penny

    ;)
  • PasturesNew
    PasturesNew Posts: 70,698 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    The point is, you've got the chance in your lifetime to earn a LOT more with a degree than if you'd not bothered. And the loan only comes out once you're earning more than a lot of jobs without degrees pay. So you're winning. And, ultimately, the loan gets killed off if you never end up paying it back.

    What's not to love about it?
  • rtho782
    rtho782 Posts: 1,189 Forumite
    Part of the Furniture 1,000 Posts
    The new rules will mean students don't even pay back a penny until £21,000, and the "interest" is just inflation so it is effectively an interest free loan.

    Seems a nice easy ride to me.
  • diable
    diable Posts: 5,258 Forumite
    What was your degree in?
  • diable
    diable Posts: 5,258 Forumite
    The point is, you've got the chance in your lifetime to earn a LOT more with a degree than if you'd not bothered. And the loan only comes out once you're earning more than a lot of jobs without degrees pay. So you're winning. And, ultimately, the loan gets killed off if you never end up paying it back.

    What's not to love about it?
    You been at the Helium again ;o)))))))))
  • Think my loan is about 6k didnt know you could sign in and see it, they send me a statement once a year i think.
    Is a Bipolar bear :p
  • InaPickle
    InaPickle Posts: 5,968 Forumite
    1,000 Posts Combo Breaker
    It does seem disheartening. I get over that by figuring out the best way to pay it back which will cost me the least interest. (Depends on how much you earn and how long it is likely to take you to pay it back according to what you currently earn).

    Try not to think of it as a normal loan and a normal debt. I know it's not easy, but chin up! :)
    Please call me 'Pickle'
    No More Buying Books: ???
    No More Buying DVDs: ???
    NMB Toiletries ??? and I've gone back for my Masters at the University of Use Ups!
    P
    roud to be dealing with her debts 1198~

  • Its-A-New-Age-Thing
    Its-A-New-Age-Thing Posts: 473 Forumite
    edited 10 January 2011 at 1:27AM
    dane-katie wrote: »
    Think my loan is about 6k didnt know you could sign in and see it, they send me a statement once a year i think.

    seeeeeeeeee OP Dane-Katie owes roughly 20k less than you bet thats cheered you right up?

    ;)
  • seeeeeeeeee OP Dane-Katie owes roughly 20k less than you bet thats cheered you right up?

    ;)

    Haha :P i bet he has a degree too, i dont :( just a HNC BUT i dint go uni :)
    Is a Bipolar bear :p
  • diable
    diable Posts: 5,258 Forumite
    How much of it was the bar bill?
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