Pay off student loan?

houndtang

I have a student loan outstanding of £7500. Currently paying £67 per month. Interest will rise to 4.6% in September. Have £60k savings with negligible interest due to abysmal ISA rates. No other debts.

Good idea to pay off student loan or at least a big chunk of it to avoid the increasing interest? Thanks

EssexHebridean

I know generally Martin's advice on student loans is to leave them alone - but in your circumstances paying off does seem more logical as that interest rate isn't anything like as low as some, is it. In your shoes, I'd be looking at getting it gone, and then setting that £67 a month aside to re-build the savings again.