'Capital' for purposes of benefit claims

jennifernil

No, that is the problem. Paying off stuff say 6 months before is still taking a risk, and with a student loan that you would not normally start repaying till the year after you graduate, the risk would be even greater.

Whether it is worth it will depend on your circumstances. If you are renting a flat, have bills etc as to pay and then food, you will eat into your savings much more than if you are living at home and parents are feeding you.

The JSA is not a lot, £65 per week or so? I have no idea about LHA if you have rent to pay. Then there would be council tax to pay once you are not a student.

If you have over, I think, £16k savings I doubt you would get CT benefit, or income based JSA. Below that there is a sliding scale as far as I can make out.

So if you have £30/35k in the bank, it would be quite a while before you qualified for any help. Although a student loan is a fairly cheap loan, it still has to be repaid sometime once you do get a job.

Your chance of getting a job will greatly depend on what your degree is, and the economic climate at the time in your area. Also, with some qualifications, you would have a reasonable chance of landing A JOB, maybe just not one in your chosen field. So a lot to consider.