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One off payment against postgraduate loan
ssmi
Posts: 36 Forumite
Hi.My daughter has an undergrad and postgrad loan (masters) and we want to make a one off payment that reduces the postgrad loan not the undergrad. However on the website if you select bank xfer you are required to enter the customer number - which applies to both loans. How can we ensure which loan the repayment is applied to? Does anyone have any experience of this? Thanks in advance
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can't answer your question but I'm wondering why you would want to pay one loan in preference to the other?I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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I think you need to phone up to do this.
Consider before making this payment will mean that the loans will get paid off eventually. If they wouldn’t otherwise get cleared, you could be gifting money to the government.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
Thank you for this. Yes we have considered the repayment - unfortunately based on what we know today this loan would be repaid within the time framesilvercar said:I think you need to phone up to do this.
Consider before making this payment will mean that the loans will get paid off eventually. If they wouldn’t otherwise get cleared, you could be gifting money to the government.
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Sounds like a good idea given the repayment threshold has (once again) been fixed at £21,000 for 2025/26.
https://wonkhe.com/wonk-corner/dfe-is-making-a-fat-profit-on-masters-loans/1
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