Student loans

Student Loans
The idea of encouraging students to get into debt is one that many people feel uncomfortable with. However the good news is that a student loan is just about the cheapest you can get. As the rate of interest is pegged very closely to the rate of inflation, it will almost be an interest free loan...

You don't need to start paying back the student loan till the April after you finish your course, and then it's only when your earnings reach £15,000 per annum. The amount of loan you can get varies but the maximum loan is £5175 for students with low family income, studying in London but not at home. For most people, since the loan is kept to the inflation rate, there is little point in repaying a student loan early. If you are likely to take out any further loans to finance a car or house, keep your student loan. Even if you are not, you might be better off investing the spare cash. you are likely to receive a better interest rate than the rate you are paying on your student loan. Student Loans are also available from many high street banks. Visit the Student Loan Company.