Quote:
Originally Posted by TheDaddy
More like 12 years before you break and that's without taking the interest into account of course...
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In practice then depending on your wage and if you pay it off at the minimum stipulated rate, maybe. But with interest rates that have varied between 1-3%, why would anyone pay it off early? If someone inherited £10k after leaving Uni would they really pay the student loan off in one go? Or put it in a deposit account, earn some interest and then pay any student loan off any future wages? I'd guess if they did decide to pay off their student, it'sa wonder they got a degree in the first place.
I've never though of my student loan as debt. If I don't have it, they don't ask for it. It's not like I have to decide wether to eat or pay the student loan. Some people drop out, never pay a penny back and it is written off after X years.