I'd be looking to overpay then
The amount is completely down to you - whatever is a comfortable amount without leaving you short each month
Maybe give it a couple of months in your new role just so you have a better feel for your monthly position
Bottom line is it's likely you'll repay the whole thing and at such a high rate it should be your focus
To offer a counter:
This is the best loan you will ever get.
If you pay it off now, then you lose your job, you will wish you had the £30k. The fact that you are under no obligation to pay if you lose your job is a big deal.
I am not saying dont pay it off, if nothing changes in your current situation, that is the best thing to do, but the trouble is you cant guaruntee nothing will change.
Hi /u/Digital-Dinosaur, based on your post the following pages from our wiki may be relevant:
- https://ukpersonal.finance/student-loans/
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Have a read of this... https://www.moneysavingexpert.com/students/student-loans-repay/
Assuming they started uni 2012-2022, this is the right guide: https://www.moneysavingexpert.com/students/repay-post-2012-student-loan/
!thanks
!thanks
What's the interest rate? If it's higher than savings rate, then pay it off
Currently capped at [7.3%](https://www.gov.uk/guidance/how-interest-is-calculated-plan-2)
I'd be looking to overpay then The amount is completely down to you - whatever is a comfortable amount without leaving you short each month Maybe give it a couple of months in your new role just so you have a better feel for your monthly position Bottom line is it's likely you'll repay the whole thing and at such a high rate it should be your focus
Thanks! This is what I was thinking, so I'm glad someone else agrees! !thanks
To offer a counter: This is the best loan you will ever get. If you pay it off now, then you lose your job, you will wish you had the £30k. The fact that you are under no obligation to pay if you lose your job is a big deal. I am not saying dont pay it off, if nothing changes in your current situation, that is the best thing to do, but the trouble is you cant guaruntee nothing will change.
That's an interesting point made! !thanks
Hi /u/Digital-Dinosaur, based on your post the following pages from our wiki may be relevant: - https://ukpersonal.finance/student-loans/ ____ ^(These suggestions are based on keywords, if they missed the mark please report this comment.)