Index tracker vs repaying student loans

Edinburghsaver

I wonder if anyone can offer some advice; I've posted this elsewhere but haven't had any responses.

I have a plan 1 student loan (started uni in 2006, graduated 2010) that is currently sitting at about £13k. Up until this year I'd barely been clearing the annual interest added, but I have recently changed jobs and had a substantial pay increase, meaning I'm repaying just under £400 a month/ £4700 per year. I know that Martin Lewis usually says not to worry too much about clearing student loan debt but as it looks like I'm certain to pay off the remaining debt in less than 4 years at current salary.

Id like some advice about repaying this student load debt versus investing in an index tracker fund versus setting up a SIPP. I am currently saving £1500 pm into a cash ISA.

I'd ideally like to retire at 55 (currently anticipated retiremwnt is at 67), with a defined benefit pension. For background, I'm 31, have recently bought my first home, have a healthy emergency fund and a partner who mainly deals with his own income and savings. We plan on having kids but not for 5+ years and would split all costs 50/50.

What would you do?

LHW99

What is the rate on this loan? if you are likely to be able to repay it in 4 years and want to retire early, I think in your shoes I would probably let the debt run, because I suspect you wouldn't get as good a rate anywhere else. What about a LISA - could be used for retirement - while you are still paying off the student loan?

Alistair31

You know what your student loan rate is.
You don’t know what the index will return you.

Do you like to gamble ?

Nice salary for a 31 y/o in Edinburgh, must be £70k+ ?

My plan 1 loan is fully invested in VLS80 in an ISA as I self-funded in the end