23 Juin 5 things you can do Ahead of paying down your own Student loan
All of this adds up to result in the money thus manageable one to really students try not to even miss out the dollars that comes away from its monthly pay to cover they.
You can put your dollars to higher have fun with
Unlike using any extra cash you only pay their financing regarding very early, you are able to it grow for the a family savings, purchase it if you don't place it for the a mortgage!
Brand new Student loan 's the the very least pressing of all of the costs, thus would certainly be best off playing with any additional cash to help pay more expensive expense such as for instance handmade cards or commercial finance.
You can not rating volunteer Student loan costs straight back
When you find yourself recharged more than just be for the income, you can request a reimbursement (telephone call SLC towards the 0300 100 0611).
But if you like to overpay, you can't get the cash back if you change your mind. It also makes no difference to the size of your monthly repayments, as they're based on your current income, not what you owe.
Imagine you overpay, but later find yourself skint and needing to borrow more money from another lender. It'll probably cost you so much more than what you've conserved on your Student Loan.
College loans don't affect your credit rating
As we said earlier, your Student Loan won't affect your credit score. However, what it can have an impact on is your value see.