Iv got just under 7k worth, and the interest is about £50 a month or something, about £15 comes out my wage every month currently, which is pennies, I know it will go up as my wage also goes up.. but its negligable, and its not going to affect a mortgage or anything so im not fussed, dont dwell on it - if you're doing something useful and working hard it wont make a difference in the longrun, for me I personally wish I hadnt amassed the debt(as minute as it is) as I didnt need to spend that money, and eventually I will end up paying more than the £7k back.
Uni debt... how much and are you worried?
- Thread starter rexehuk
- Start date
bull.
Im sure many people in here can show you one of their yearlys from student loan's co with the interest on it.
was thinking about going to study in canada for uni, but the costs add up way too much, the course itself it is
plus i dont have the funds
Mine is fairly high due to my lifestyle tbh. I always have money on my student load unlike others and I don't work. Id say most my money goes on disposable stuff like Boss clothes and armani... (I'm a sucker for ncie clothes) but I build up my collection slowly so i end up with a nice wardrobe and money to spend.
I tend not to go out ALL the time as well, maybe once a month where ill enjoy myself and spend £60-100 (Instead of £20/30 a night multiple times a month) as I perfer one really memorable night.
Also spend 3k of it this year on interrailing as I had NEVER been out of the country, if anything I see this as a good investment as I learnt so much on my travels about myself. The rest of my money... lets say I got into spread betting last year with CMC running mini trading rooms at uni with my friend and made a lot of money and equally got quite messed up on others.
mines around 12k (3 years of uni) + took out a 7k CDL loan 
which is pay back 340£ a month starting in nov . But now my education is working for me as I get ££££ for doing a PhD 
Also is it just a bull***t lie or does your student debt get cleared if you leave the country for more than 5 years?
which is pay back 340£ a month starting in nov . But now my education is working for me as I get ££££ for doing a PhD Also is it just a bull***t lie or does your student debt get cleared if you leave the country for more than 5 years?
This years interest rate is 0%.
The debt is only wiped if it hasn't been paid off after 25years.
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7.5k ish at the moment, will be around 30k after i finish all 4 years
well this depends on the Masters.
if it's something like Education, Languages or other Humanities degrees, you need the Masters to get better jobs. no employer will pay you to do taught degrees in these subjects, let alone any MPhil research degrees..
12K and counting last time I checked. I don't mind, I really don-'t care too much about life right now and I never plan to return to the UK to live or work. If I do end up in old blighty then I'll pay off the loan at whatever rate my meagre job allows me. If I have to be a happy tax paying citizen of the UK then I have enough savings if i scrimp and save and sell off some gear to pay off the loan quickly enough it wont burnden me for the rest of my life.
think mine is 18k or so, no point in paying it off at more than the minimum as i can get better returns on any excess i could pay off elsewhere.
I hope to have it paid off within about 5-6 years assuming my career goes as expected in which case i think it will have been a great investment.
I hope to have it paid off within about 5-6 years assuming my career goes as expected in which case i think it will have been a great investment.
Well for post 1998 loans its currently 0%, and pre 1998 is -0.4%.
Some industries you need an MSc to really have a chance at getting a job (oil industry for example), it's pretty much impossible to get a job with the Big four (BP, Shell, Total and Chevron) if you don't have one. This is what I am finding (although I did expect it) at the moment to my cost..
As for my debt at the moment - i'm on around 14k, all from the SLC however so I don't really care about it. Even if I get a very good job i'm not paying it off early so meh...
Hey Mjt, you are going to see a lot of this in this year and last as people attempt to offset the recession and gain another qualification before we're on our way back up and the market settles. I think it's a good plan (one I might take) upon assessing the markets when I'm out.
I'm beginning to realise the burden my debt is going to give me now! It's double or triple some of yours listed lol
I want my debt cleared within 2-3 years of starting work... which means I have a lot of work to do! My current plan is offset interest rates with small payments, slowly saving up a lump sum to pay it all off in one go. This way I also have cash as some sort of very serious emergency fund if something happens in my life...Pretty sure they changed the rules on this... you'll now be tracked where ever you go from what I last heard! How they'll inforce I don't know, they haven't even processed my application yet!
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Just under 16k (though now just over after it sitting there for 3 years without me paying it back)
Does it worry me? I don't like that its there, but at the same time, there is no legal way I can ever be forced to pay back more than I have at my disposal, so no it doesn't worry me per se.
Does it worry me? I don't like that its there, but at the same time, there is no legal way I can ever be forced to pay back more than I have at my disposal, so no it doesn't worry me per se.
I'm older than a lot of you as I graduated in '98 but I had about £9K worth of debt (SLC & Barclays) by the time I'd finished. Took me about 18 months before I was earning more than the threshold.
Like most of you seem to be, at the time I wasn't worried about repayments. Seemed to take hardly any time to spend the money but forever to pay it all back.
Like most of you seem to be, at the time I wasn't worried about repayments. Seemed to take hardly any time to spend the money but forever to pay it all back.
0,0€ so far and if I don't fail my study, it will remain this way by the end I finish it...
Hell, I'm worried about making 600€ debt if I quit in the first 2 months, I can't really make the debts some of you do it'd feel really crap to me to be honest if I was more than 2k in debt... I avoid being in debt altogether really.
Hell, I'm worried about making 600€ debt if I quit in the first 2 months, I can't really make the debts some of you do it'd feel really crap to me to be honest if I was more than 2k in debt... I avoid being in debt altogether really.
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mine was about 9.7k as thats how much I borrowed. After 5 years with interest it got to 10.4k so I decided to pay it off otherwise it will pile up.
So wanted to buy a car with that cash but hay its all over...
Pay it off ASAP, if you cant, what ever income u get put a small portion away for the stupid loan
So wanted to buy a car with that cash but hay its all over...
Pay it off ASAP, if you cant, what ever income u get put a small portion away for the stupid loan