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Student loan should I repay?

So I have worked really hard to be mortgage free and I currently owe
£3269 on 0% Credit cards
I also owe £2250 on my student loan.
I know you are advised not to pay these off but mine has interest on it compared to my 0% cards and it’s small, i am likely to pay it off as I’m just 50, I work in nhs job so fairly secure .
should I pay this off or save?
I have savings of £5000

MFW December 2026

Initial mtg £100,000 Jan 2021
Final payment made balance £0 May 2026
mortgage free part II done!
retirement planning started June 26
H&L share ac started.





Comments

  • Spendless
    Spendless Posts: 25,444
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    I'd do some maths on it. When will it get written off? Based on current wages and expected pay increases how much do you expect to pay off in that time. Perhaps read some articles and use some calculators on this site to come to your decision. 
  • V3cash
    V3cash Posts: 459
    Ninth Anniversary 100 Posts Mortgage-free Glee! Name Dropper
    Forumite
    I have 10 years left on part 1 student loan
    i also have a part 2 student loan, this one I won’t bother to pay off as it’s huge. 
    I will be likely to pay it off in the 10 years so it’s probably a no brainer to pay it off as the interest is 4.6 % ish
    However it’s hard as if i could not work for any reasonsor drop my hours under threshold i would not pay it off any way.
    i will have a think

    MFW December 2026

    Initial mtg £100,000 Jan 2021
    Final payment made balance £0 May 2026
    mortgage free part II done!
    retirement planning started June 26
    H&L share ac started.





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