Recieving a sum of money - your opinions needed (ref student debt)

xycom1

pinkshoes wrote: »

I've got £15k student debt, which is about £30/month interest, and I pay it back at the minimum rate. I took the full loan out, and invested any spare in an ISA, which is now my back up payment if I couldn't pay my mortgage for any reason (i.e. i plan to have kids in the next few years, so will need some time out from work!!).

!?! £30/month! My loan is going to be at least £20K as I have 5 years worth. And my repayments are only £50/month. PMSL it's never going to get paid off. :rotfl:

kr15snw

Well I'm pretty much living with my OH at the moment. I have spent 2 nights at home since christmas. He says I cant officially move in due to cash flow, but seeing as we manage now (I buy the shopping each week) I think its more down to the fact hes been a single guy for 6 years and it will be a big change. Which is fair enough!

My debts are my tuition fees and my student loan, I have no overdraft or credit cards. I cleared my credit card with my student loan back in September (was about £700).

I was thinking of putting the money into premium bonds as a member of family has 20k in bonds and has won at least £50 every month since she got them! I would also find this quite fun, lol.

CLAPTON

5% of 20k is £1000 per year
12 lots of 50 is £600 per year

interest on student loans is based on the RPI as at april so for sept 2007-8 interest rate on student loans will be 4.8% (although not confirmed).

I would however, save the money and see how things work out.