Idle Banter For non SV and non bike related chat (and the odd bit of humour - but if any post isn't suitable it'll get deleted real quick). There's also a "U" rating so please respect this. Newbies can also say "hello" here too. |
|
Thread Tools |
06-02-08, 11:24 PM | #1 |
Guest
Posts: n/a
|
Student Loans
Just looked at the SLC site at the interest rates on the loans which us students have. Seemed ideal in 2001 when i initially took mine out - only 2.3% and it has been between 1.3% APR and 3.2%APR up until this academic year. This year it has jumped up to 4.8% APR! I still owe the majority of my loan as I only appear to have paid the interest off in the last 4 years of work.
Anyone else suffering a similar loan burden? |
07-02-08, 01:32 AM | #2 |
Member
Mega Poster
Join Date: Apr 2005
Location: Sunny Swindon
Posts: 3,573
|
Re: Student Loans
Yes.
There is much to say on this state of affairs... |
07-02-08, 02:47 AM | #3 |
Member
Mega Poster
Join Date: Jan 2007
Location: Plymouth, England
Posts: 3,787
|
Re: Student Loans
Me too but I tend to ignore it and hope it will all go away.
I'm on the old style student loans as well as the new style so at the mo I'm only paying the newer one back.
__________________
Phil I'm not here for a long time, I'm here for a good time! Blue SV650 K3, GSX-R K5 front end, TL1000S clip-ons, lower fairings, seat cowl, gel seat, Pyramid undertray, R&G crash bungs, stainless steel bar ends, full titanium Akrapovic exhaust, Power Commander, clear rear light, flush mount front indys, mini rear indys, Autocom 300 duo intercom, Acumen cat 1 alarm and Micheline Pilot Power 2ct's. |
07-02-08, 08:28 AM | #4 |
Member
Mega Poster
Join Date: Jun 2006
Location: Wakefield, West Yorks'
Posts: 1,129
|
Re: Student Loans
Yup.
I just leave it alone and forget about it. It will eventaully get paid off. I do however wish I never got it, I never actaully needed it. Had some good nights out though
__________________
'52 Curvy S | So good.....it made me want to trump! If at first you don't succeed - use more gaffa tape. |
07-02-08, 08:30 AM | #5 |
Member
Mega Poster
Join Date: Aug 2005
Location: Tower Hamlets but with Shutters on the windows
Posts: 1,522
|
Re: Student Loans
yes I am in a smiliar postion although now i am a student again i dont have to worry about it until I graduate again in July. I dont actually think that it's a loan that i will be able to pay back in my lifetime though.. roll on 50 when it gets written off
|
07-02-08, 08:36 AM | #6 |
Guest
Posts: n/a
|
Re: Student Loans
Rob - I have yet to start repaying mine, and I am due to receive one last installment. I thought the interest rate where ment to be quite low (les than 2.5%); over 4% is stupid. Anyway, I was talking with my parents about all this (I am constantly worried about paying it off) and they said just pay off what you are asked to each month; the debt gets cleared by the time you reach retirment age anyway (or so I have been lead to beleive).
So try not to worry about it; the guys on here have told me its not a "bad" debt to have, its like a morgage in that its an acceptable debt since its sort of nessacery (i.e. you cant get a house without a morgage, and most poeple cant get through uni without the student loan) Matt |
07-02-08, 08:41 AM | #7 |
Guest
Posts: n/a
|
Re: Student Loans
I paid a massive chunk of mine off this month as when I finally got my statement through for last year I'd paid £376 in interest and paid £390 odd off the loan. So this year I paid a grand total of about £14 off a £13,000 loan. TBH I just want rid of it, the interest rate has jumped up a lot this year.
|
07-02-08, 08:49 AM | #8 |
Guest
Posts: n/a
|
Re: Student Loans
I had quite a large loan when I finished uni, and my parents decided to pay it off for me - despite me telling them that the interest rate is still very low.
If I could have afforded uni without the loan, I would have plopped the whole lot into an ISA and let the interest from that pay off the loan - the loan rate is still low compared to interest in ISA's. However - it is rediculous how they have been allowed to bump up the interest rate when the BoE interest rates have been dropping. |
07-02-08, 08:55 AM | #9 |
Guest
Posts: n/a
|
Re: Student Loans
Out of curiosity how much are your loans for?
When I started uni back in '92 I had a full grant of £2400. By my final year the grant had diminished to about £1.5k a year so I left uni with an o/d of £1400 & about £3-4k in student loans. Ah, the good ol' days when you changed your bed sheets once a year (i.e. when you took them home for summer). |
07-02-08, 09:11 AM | #10 |
Guest
Posts: n/a
|
Re: Student Loans
Dirk, my loan debt will be pushing over £20k...4 years course, with the maximum loan given to me each year. 5500+5500+6500+6500
ouch Matt |
Thread Tools | |
|
|
Similar Threads | ||||
Thread | Thread Starter | Forum | Replies | Last Post |
Those of you with student loans | gettin2dizzy | Idle Banter | 11 | 05-01-09 10:06 PM |
What do you do when the student becomes the teacher? | K | Idle Banter | 33 | 16-12-08 07:30 AM |
Personnal Loans | tactcom7 | Idle Banter | 16 | 25-04-08 11:36 PM |
Met a student tonight | timwilky | Idle Banter | 40 | 26-03-08 12:23 PM |
my student! | socommk23 | Idle Banter | 22 | 26-09-06 10:11 PM |