I have more money than I know what to do with. What would you suggest?

hallmark

And that's four times. Honestly not sure at this point if you're doing it on purpose.

Anyway it's futile debating with somebody who does nothing but project their own behaviour.

To return to the original point, I personally would feel morally obliged to pay back a taxpayer funded loan.  No amount of blaming politicians would change that, as it's not them who'd be paying my debts for me, it's the taxpayer. Specifically today's crop of youngsters.  But it's absolutely fine if you don't feel the same.

I'm dropping out of this exchange (with you) now as like I said, it's futile.  However feel free to have the last word if you need it.

boingy

I feel this thread is not going to get back on the rails.

thegentleway

I’d suggest giving it away to a good cause.

thegentleway

hallmark said:

And that's four times. Honestly not sure at this point if you're doing it on purpose.

Anyway it's futile debating with somebody who does nothing but project their own behaviour.

To return to the original point, I personally would feel morally obliged to pay back a taxpayer funded loan.  No amount of blaming politicians would change that, as it's not them who'd be paying my debts for me, it's the taxpayer. Specifically today's crop of youngsters.  But it's absolutely fine if you don't feel the same.

I'm dropping out of this exchange (with you) now as like I said, it's futile.  However feel free to have the last word if you need it.

Interesting point. I feel morally obliged to be a net contributor but I would not be compelled to pay back current student loans. I agree the tax payer will pick up the bill but I don’t think the fix is for individuals to pay extra. It’s better for the taxpayer to use democratic process and fix student loan fiasco. It’s not individual student’s fault that the loan system is such a mess.

hallmark

thegentleway said:

hallmark said:

And that's four times. Honestly not sure at this point if you're doing it on purpose.

Anyway it's futile debating with somebody who does nothing but project their own behaviour.

To return to the original point, I personally would feel morally obliged to pay back a taxpayer funded loan.  No amount of blaming politicians would change that, as it's not them who'd be paying my debts for me, it's the taxpayer. Specifically today's crop of youngsters.  But it's absolutely fine if you don't feel the same.

I'm dropping out of this exchange (with you) now as like I said, it's futile.  However feel free to have the last word if you need it.

Interesting point. I feel morally obliged to be a net contributor but I would not be compelled to pay back current student loans. I agree the tax payer will pick up the bill but I don’t think the fix is for individuals to pay extra. It’s better for the taxpayer to use democratic process and fix student loan fiasco. It’s not individual student’s fault that the loan system is such a mess.

I wouldn't call it extra.  But I agree with you the system is a mess and given the opportunity most people are going to avoid repaying if they don't have to.  I definitely don't think MSE should be pushing the line that paying it when you don't have to is a waste of money. 

One of the ironies is that the very people who object to having to pay tuition fees when earlier generations didn't, will undoubtedly object to the high taxation they'll be subject to their entire working lives.

I did well at school but quit at 16 as circumstances dictated I needed to be earning wages & paying rent/bills. Not that I minded as I never had any desire to go to University.

auser99

hallmark said:

I'm surprised that nobody has suggested repaying (or starting to repay) the student loan.  Not because it's necessarily the most beneficial move financially (although it could turn out to be) but because it surely ought to be the aim of anybody who takes a taxpayer-funded loan. Especially if you partly used it to buy a house and have more money than you know what to do with.

I disagree strongly with the MSE line on this, particularly this quote as part of the section on loans being wiped after 30 years.

"if it's unlikely you'll clear the loan in time, then you will have paid unnecessarily."

No, that money won't have been paid unnecessarily, it would have been a good-faith attempt to repay a loan.

It makes no sense to me that a website that champions consumers advocates a policy that costs consumers (taxpayers) a fortune.

BTW this isn't a dig at you personally, or at anybody else who has a student loan, just my opinion.

Imagine the audacity of suggesting someone who took a loan out might think about repaying it when in their own words they have more money than they know what to do with.

You sound unreasonable 

hallmark

auser99 said:

hallmark said:

I'm surprised that nobody has suggested repaying (or starting to repay) the student loan.  Not because it's necessarily the most beneficial move financially (although it could turn out to be) but because it surely ought to be the aim of anybody who takes a taxpayer-funded loan. Especially if you partly used it to buy a house and have more money than you know what to do with.

I disagree strongly with the MSE line on this, particularly this quote as part of the section on loans being wiped after 30 years.

"if it's unlikely you'll clear the loan in time, then you will have paid unnecessarily."

No, that money won't have been paid unnecessarily, it would have been a good-faith attempt to repay a loan.

It makes no sense to me that a website that champions consumers advocates a policy that costs consumers (taxpayers) a fortune.

BTW this isn't a dig at you personally, or at anybody else who has a student loan, just my opinion.

Imagine the audacity of suggesting someone who took a loan out might think about repaying it when in their own words they have more money than they know what to do with.

You sound unreasonable 

Yeah haha.  TBF the OP might well be fine with the suggestion, quite amusing how upset some other people are over the concept.

fuzzzzy

hallmark said:

I'm surprised that nobody has suggested repaying (or starting to repay) the student loan.  Not because it's necessarily the most beneficial move financially (although it could turn out to be) but because it surely ought to be the aim of anybody who takes a taxpayer-funded loan. Especially if you partly used it to buy a house and have more money than you know what to do with.

I disagree strongly with the MSE line on this, particularly this quote as part of the section on loans being wiped after 30 years.

"if it's unlikely you'll clear the loan in time, then you will have paid unnecessarily."

No, that money won't have been paid unnecessarily, it would have been a good-faith attempt to repay a loan.

It makes no sense to me that a website that champions consumers advocates a policy that costs consumers (taxpayers) a fortune.

BTW this isn't a dig at you personally, or at anybody else who has a student loan, just my opinion.

The whole point of the MSE advice on student loans is because some people misunderstand how the loan works and may be put off going to university due to the idea of getting into lots of debt. All it does is point out how the loan actually works.

I'm surprised that you're surprised that no-one has suggested repaying the student loan.The OP may have some savings, but they are young, not on a high salary, have a mortgage and have mentioned they have several health conditions. Although they say they have more money than they know what to do with, it appears that this is largely because they live a very frugal lifestyle. 

To the OP you sound like you are in a good position. Just relax a little. You say you don't want to spend for the sake of spending so don't, but don't let yourself miss out on things you really want by being too stingy.

hallmark

With respect, that's not all the MSE article does. It specifically advocates a policy of not repaying the loan if you don't have to.

I agree the OP has done well so far. As I've said before repaying student debt could easily turn out to be a good move. Aside from any morality issues being shackled with debt most of your life is a position nobody should choose to be in.

housebuyer143

hallmark said:

With respect, that's not all the MSE article does. It specifically advocates a policy of not repaying the loan if you don't have to.

I agree the OP has done well so far. As I've said before repaying student debt could easily turn out to be a good move. Aside from any morality issues being shackled with debt most of your life is a position nobody should choose to be in.

My two sense is this is a money saving forum and advice is around saving money. Repaying a loan you are not required to, doesn't impact your life that much (if at all) and eventually gets wiped, doesn't sound like good money saving advice, especially if you are on plan 1.