How can I pay off all my student loan as soon as possible?
You shouldn’t be in any rush to pay of the student loan. It is at such a cheap rate – you might aswell let the payments trickle to it from you r pay every month (they will take 9% of that you earn over 15K.) I have more than £19,000 of student loan debt. I’m now in a good job and the SLC takes about £200 a month for replayments. i recently spoke to a financial advisor with regards to what is the best plan for paying it off…. he said not to bother. At my current rate of replayment it will be paid of in 11 years – rather that try to pay it off sooner – he said it would make more sense to put money in to a high interest savings account. Any anyway… student loans (from the Student Loan Compnay, not bank loans) do not coundo n your credit rating, so there is no real reason for having to pay it off as quickly as possible. My advice would be just let it pay itself off. Payments will automatically be taken from your pay before you see it, so you won’t miss the money – don’t pay extra – use
