DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - IF you have a STUDENT LOAN

**Khcyhshq** · 09-21-2011, 02:00 AM

Bismillah
So the debt comes along without any interest, that is wont the interest money increase if the payment is delayed? I dont know how it goes in UK.

The loan is what it is - a loan. The interest however, is lower then what it would be if you were to approach a High Street Bank & the student only has to start paying back the money, once they are earning a certain threshold (i.e £15000), after completing their studies.

If no payments whatsoever are made the loan amount will accumulate interest & therefore the amount is always increasing.

@ the OP - At the minimum, I think it may be wise to try & cover just the interest that is being accumulated on the loan, until a more effective plan can be put in place....£25 saved per month, adds to £300 over the year, so knocking a dent in the loan (regardless of how small), is a good start.

09-21-2011, 02:00 AM	#4
Khcyhshq Join Date Oct 2005 Posts 403 Senior Member	Bismillah So the debt comes along without any interest, that is wont the interest money increase if the payment is delayed? I dont know how it goes in UK. The loan is what it is - a loan. The interest however, is lower then what it would be if you were to approach a High Street Bank & the student only has to start paying back the money, once they are earning a certain threshold (i.e £15000), after completing their studies. If no payments whatsoever are made the loan amount will accumulate interest & therefore the amount is always increasing. @ the OP - At the minimum, I think it may be wise to try & cover just the interest that is being accumulated on the loan, until a more effective plan can be put in place....£25 saved per month, adds to £300 over the year, so knocking a dent in the loan (regardless of how small), is a good start.
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