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I thought I will never see this day!!!

paye
paye Posts: 448 Forumite
Part of the Furniture 100 Posts Combo Breaker
in Loans
After 10 years of hard work I have finally paid of my student loan:beer: I walked away with £20k debt 16 years ago which doesn't seem that bad compared to the university fees you have to pay nowadays.

I ended up clearing the £1,600 balance which means more take home pay from next month, feels like a pay rise.

I'm so happy:o
Save Save Save:o

SPC 593 paye:o

Comments

  • foxy-stoat
    foxy-stoat Posts: 6,879 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper
    Well done....dont normally see threads of a positive nature round these parts.
  • BrassicWoman
    BrassicWoman Posts: 3,215 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Mortgage-free Glee!
    brilliant :)
    2021 GC £1365.71/ £2400
  • zippygeorgeandben
    zippygeorgeandben Posts: 1,273 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
    Fantastic news. It does seem doesn't it that that road will never end! Question is... with this extra money what are you going to do with it? How about putting half of it away into a savings pot and spend the other half?
    Otherwise it will just get swallowed up in 'nothingness'!
    You could actually put it to something you really desire and when you reach the amount you need, then spend it. You deserve it! Well done :)
    Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS
  • Clive_Woody
    Clive_Woody Posts: 5,888 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Top banana, great news :money:

    Time to head to the savings and investment board for your next adventure ;)
    "We act as though comfort and luxury are the chief requirements of life, when all that we need to make us happy is something to be enthusiastic about” – Albert Einstein
  • TrustyOven
    TrustyOven Posts: 746 Forumite
    Seventh Anniversary 500 Posts Combo Breaker
    Congratulations! well done.


    I still have 3k left of mine, want to get rid as I keep reading how blunderous the SLC is for everyone else.
    Goals
    Save £12k in 2017 #016 (£4212.06 / £10k) (42.12%)
    Save £12k in 2016 #041 (£4558.28 / £6k) (75.97%)
    Save £12k in 2014 #192 (£4115.62 / £5k) (82.3%)
  • Nasqueron
    Nasqueron Posts: 10,006 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    I think mine is slowly getting to the point where I might be finally paying more than I add in interest but will have to check the numbers - SLC still not updated for the 2017/18 tax year. Paying about £60 a month now from salary and the balance to end of 31/3/17 (£16025.57) is slightly lower than an old statement I have from 2014 (£16316.72). The SLC website is awful in terms of seeing old letters which I never seem to get and I don't really know how much it's going up or down but maybe it will get to 0 before it's written off (think it's when I retire as I was in the 1999 start year group)

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

  • paye
    paye Posts: 448 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    zippygeorgeandben wrote: »
    Fantastic news. It does seem doesn't it that that road will never end! Question is... with this extra money what are you going to do with it? How about putting half of it away into a savings pot and spend the other half?
    Otherwise it will just get swallowed up in 'nothingness'!
    You could actually put it to something you really desire and when you reach the amount you need, then spend it. You deserve it! Well done :)

    Thank you for all your kind words :j

    You have a very valid point in terms of what I will do with the extra
    few hundred quid I'll take home,I think I will chip away at my mortgage by overpaying.

    :T
    Save Save Save:o

    SPC 593 paye:o
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