Is it worth it?

beckie89

You are in an incredibly lucky position for a student if you can afford to not touch your student loan and leave it in an ISA! My friend is doing that at the moment, her parents have paid her tuition fees, accomodation and give her a small living allowance. She works a few hours a week to add to the living allowance. I know I won't be able to do that, being the eldest of 4 children!! I will depend on every penny of my student loan at the time.
That being said, if you can get away with it - do it, i'm sure the lump sum will come in useful!!

Bamber19

Sausage_Roll wrote: »

Wheres the 4.8% figure coming from? I thought it was the rate of inflation which isn't at 4.8%.. is it?

It's the retail price index that determines the interest rate charged on student loans, they bas eit ont he March-March figure which means 4.8% for the coming years loans, quite a jump from the 2.4% it was at this year

Bamber19

Nealmason1986 wrote: »

i thought an ISA was only 3000 a year. im confused now

that's a mini ISA