I will be able to make a real dent this year! Each month I manage to save around £600 and now in my savings account which I do not touch I have a few thousand. I have have my saving account for a few years and found out I am still on version 1 and now the bank is up to 10, meaning all this time I have been getting like 0.2% interest, so yesterday I went into the bank and upgraded it so now its 2.5% interest. Even at the end of the year when I have paid my car insurance and tax I will still have a good amount left to start paying off my loan, and the thought of that feels really good. 1 month ago
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I was going through my important documents folder the other day and came across my last student finance letter saying that I could set up an online account to view what I owe.
It currently stands at £20,186.
At the moment I dont earn over the threshold for them to start taking money back, but Im really good at saving money and always save about half of my paycheck each month and put it into an account that I do not touch as its for my car/emergencies.
Ive just paid my car insurance/tax and MOT and still have a bit there so in a few months I think I am going to make my first voluntary payment of a few thousand pounds :-) 4 months ago
I’m not allowed to work for a while, so obviously paying off my student loan isn’t going to happen just yet.
I asked my parents to throw some money at it for Christmas but I think they’ve already brought my presents. I would be nice for it to shrink by a hundred dollars or so. 6 months ago
I’m sitting in my old house on a puffee and using a giant tub of emulsion as a laptop table as I’m in the middle of moving to my new flat with my loverly boyfriend. I’ve just gotten round to sorting out the mail from today and I had the yearly statement from the student loans company. My new balance is just under £2300. So it’s not as bad as I thought it would be, but it’s still not great.
I had planned on starting to pay it off in January after I had paid off my catalog credit, but the ways things have gone financially for me, I’ve not been able to do that. Perhaps the beginning of next year I will be able to start doing at least £10pm. Its better than nothing right?
I’m just glad I’ve never taken out a credit card or any other loan! Even though this month really is a struggle for money! 7 months ago
my wages are going up from 2oth september and I have a feeling I may be passed the threshold where I am required to make repayments. but we will see. I’m hoping to be able to start paying something of it off anyways 8 months ago
Even though I dont earn over the threshold to start making mandatory payments, now that I have a job I save a few hundred each month and am hoping to start making voluntary payments at the end of this year, to bring down the total. 9 months ago
my loan has been consolidated and i’ve raised my monthly payment to $200 from $149. this should cover the interest charged monthly so i’ll be paying at lease $149 off the principal monthly. so by my calculation, student loan could be paid off in about 5 years… i think that’s good? last i heard, it would be more like 11! 10 months ago
as of july 1st, both of my loans have been consolidated. (ha, my favourite thing!) so now i have a total overall balance and only 1 auto-payment monthly. raise it to $200 monthly before year-end. 10 months ago