Should you invest your student loan? 5MF017
Listener Andy asks whether he should take his student loan (which he doesn't need to live on) and invest it for his future…
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LINKS:
Money Savings expert guide to Student Loans: https://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes/
The Scottish System: https://www.mygov.scot/apply-student-loan/
Thank you,
I sent you an email yesterday related to this topic.
How about an update on the this topic for England, where student interest on loans is now more like 6 %.
My question was if I had the funds to clear my sons loan should he clear it or or should he invest the lumps sum with a view a deposit on a house in the foreseeable future, with in 5 years.
I suggested two different scenarios
The son who is likely to pay off his student debt in a 10-15 year time frame and one who may make it last the term or never do so.