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New Student loans
charliechick22
Posts: 3 Newbie
in Loans
I am going to university this year I get a bursary for my tuition fees so will only be taking out a student loan for maintenance which works out to be roughly £1700 a year. I don't really need this money as I have savings from working for 2 years but I have seen lots of things saying take a student loan it's the best type of debt etc... However on the new system I believe you pay more interest so is it worth me taking it and putting the money in a savings account or just leaving it all together. Also on the new system is it best to pay off more if you have more or leave it just to come out of your wages ?? Thanks:o
0
Comments
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at best it will earn 3% in a savings account around £50 a year,if it were me and i didnt need to borrow the money then i wouldnt(good practice for future years)will you be elligible for a grant as well?0
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No, it will lose you money as savings rates are much lower than the RPI+3 interest rate you will pay.0
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