Some people are unhappy with the whole student loan deal as they think that students shouldn't need to get in to debt. The good news is that student loans are at a very low interest rate. If there's any kind of loan you want to have - it's a student loan! As the rate of interest is kept equivalent to the rate of inflation, then effectively it will 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 only when you earnings reach £15,000 per annum. 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 available from many high street banks. Visit the Student Loan Company.

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