Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • MSE Eesha
    • By MSE Eesha 5th Nov 19, 9:47 AM
    • 121Posts
    • 29Thanks
    MSE Eesha
    Should I overpay my student loan?
    • #1
    • 5th Nov 19, 9:47 AM
    Should I overpay my student loan? 5th Nov 19 at 9:47 AM
    See Martin's blog and video:

    'Should I overpay my student loan?'

    And let us know your thoughts.
Page 1
    • BGLP2018
    • By BGLP2018 5th Nov 19, 1:27 PM
    • 3 Posts
    • 0 Thanks
    • #2
    • 5th Nov 19, 1:27 PM
    Leaving Uni Early with Only 4500 Loan
    • #2
    • 5th Nov 19, 1:27 PM

    I was wondering if someone could help me. I went to Uni in Sept 2016 and then withdrew in March 2017, meaning my loan was only 4500 (1/2 year).

    Today (November 2019) I owe nearly 5,300 with interest. I want to know am I best off paying this off in full, rather than letting it be deducted from my salary? I am already earning over the payback threshold so it's not as though I am someone who will never have to pay it all off as its a small amount and I'm already paying it off through my salary.

    Am I right in thinking it makes sense to pay it off in full when I can, rather than let it be deducted through my salary, as then I will pay way less in interest?

    Thanks in advance for your help!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

663Posts Today

5,736Users online

Martin's Twitter