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  • FIRST POST
    • FraNea
    • By FraNea 17th Sep 19, 9:12 PM
    • 1Posts
    • 0Thanks
    FraNea
    NHS Student loan overpayments
    • #1
    • 17th Sep 19, 9:12 PM
    NHS Student loan overpayments 17th Sep 19 at 9:12 PM
    Hi All,

    This must've been brought up before but I couldn't find it anywhere. I know MSE advise to ignore the student loan, let it do it's thing and not overpay but I was fortunate enough to have my degree partially funded due to it being an NHS Degree. My student loan is now < 9k. I pay around 120 a month towards it but it's 4.08% interest rate adds on 30 a month. With 25% of my payments going on just the interest, is it worth me overpaying? If not to completely pay it off at least it would reduce the interest?
Page 1
    • DCFC79
    • By DCFC79 18th Sep 19, 7:33 AM
    • 35,080 Posts
    • 22,170 Thanks
    DCFC79
    • #2
    • 18th Sep 19, 7:33 AM
    • #2
    • 18th Sep 19, 7:33 AM
    Hi All,

    This must've been brought up before but I couldn't find it anywhere. I know MSE advise to ignore the student loan, let it do it's thing and not overpay but I was fortunate enough to have my degree partially funded due to it being an NHS Degree. My student loan is now < 9k. I pay around 120 a month towards it but it's 4.08% interest rate adds on 30 a month. With 25% of my payments going on just the interest, is it worth me overpaying? If not to completely pay it off at least it would reduce the interest?
    Originally posted by FraNea
    Id ignore it unless you can afford to increase your contribution.
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