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General Chat Thread, Finally Paid My student Loan ! in General; Congratulations to me. I have made the last payment on my student loan ! I took it out in Sept ...
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    Finally Paid My student Loan !

    Congratulations to me. I have made the last payment on my student loan !
    I took it out in Sept 1996 - and back then I didn't even have to borrow to pay university fees!

    I'm 96 per month richer !!!

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    congrats

    im pretty sure the payments i make are less than the interest accrued. Quite how they think they're going to get it back that way I dont know

    I would like mine off my back though

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    torledo's Avatar
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    well done in getting that particular monkey off your back.

    I made a couple of lump sums to reduce my student loan debt and now it appears i'm paying off most of the capital rather it being mostly interest. Which can only be a good thing.

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    I've finally paid off my mortgage - thats 700 a month - a gorilla of my back!!

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    Congratulations, I'm very jealous!

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    I get to pay off my mortgage next summer - that's if the country hasn't gone bankrupt and we get sold lock stock and barrel to some Russian shyster.

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    Cool


    Quote Originally Posted by sidewinder View Post
    im pretty sure the payments i make are less than the interest accrued. Quite how they think they're going to get it back that way I dont know
    Mine's the same, or was, because I was only just over the repayment threshold. Payment: 15, interest: 25ish. D'oh!

    Still, I only have 3k outstanding because I dropped out after a year (the course was utter ), so now I'm out of my overdraft I'm planning to put some big chunks in and just get rid of it.

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    RabbieBurns's Avatar
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    I still dont get paid enough to invoke the student loan contributions through PAYE.

    Im off to Australia next year, hopefully get a job and stay for 5+ years

    Anyone know what happens to my student loans if Im no longer living and working and paying tax in the UK?

    Theyll just get written off yeh?

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    torledo's Avatar
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    Quote Originally Posted by RabbieBurns View Post
    I still dont get paid enough to invoke the student loan contributions through PAYE.

    Im off to Australia next year, hopefully get a job and stay for 5+ years

    Anyone know what happens to my student loans if Im no longer living and working and paying tax in the UK?

    Theyll just get written off yeh?
    They get written off after 25 years from what i recall

    So to avoid having to make any student loan repayments earn less than 15k a year through PAYE ....no thanks.

    b)Spend 25 years abroad in ausralia.

    c)Divide the next 25 years between here and australia and when your here make sure you earn less than 15k a year.

    As 'our graham' off of itv's blind date used to say - 'the choice... is yours'.

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