The Happy Thought Thread - Page 767

**Damien** · 24-09-2016, 11:07

Quote:

Originally Posted by Osem

Well done. Did you do so earlier than you needed to?

Not too much. Just a final payment to get rid. Because PAYE deductions are pre-tax it's better not to pay it off too early.

Quote:

I'm assuming you didn't get into further significant debt as a result of the celebrations...

Not yet

**Hugh** · 24-09-2016, 11:15

Quote:

Originally Posted by Damien

Paid off Student Loan

Congratulations.

Osem · 24-09-2016, 11:23

Quote:

Originally Posted by Damien

Not too much. Just a final payment to get rid. Because PAYE deductions are pre-tax it's better not to pay it off too early.

Not yet

The reason I'm asking is Osem Jnr, who's still accruing his debt. Aside from a mortgage I've avoided debt like the plague but times have changed so I'm just wondering what the form is re paying this stuff off.

Presumably student loans are taken into account by lenders and will affect the amount you can borrow for a mortgage?

**Damien** · 24-09-2016, 12:44

Quote:

Originally Posted by Osem

The reason I'm asking is Osem Jnr, who's still accruing his debt. Aside from a mortgage I've avoided debt like the plague but times have changed so I'm just wondering what the form is re paying this stuff off.

Presumably student loans are taken into account by lenders and will affect the amount you can borrow for a mortgage?

ah ok.

Well I went before they increased the fees and changed the way you pay it back. He will have more debt and I believe they increased the interest rate as well.

However they also pay less per salary band than I did and the debt gets wiped out after 30 years I think. So a lot of people will never pay back the whole amount before it gets wiped. It's better to think of it as an additional tax rather than a debt.

As for mortgages etc. It's only considered in the sense you get less take home pay available for a mortgage. It won't appear in a credit check and it isn't considered a debt in the same way a car loan would be. You don't get debt collectors and so on.

Don't worry about this in the same way you would worry about other debt.

There was a good post from the money saving expert about this, I'll see if I can find it.

---------- Post added at 11:44 ---------- Previous post was at 11:42 ----------

Here ya go: http://www.moneysavingexpert.com/stu...n-fees-changes

nashville · 24-09-2016, 13:42

Just received my new suite ( which I was dreading as I thought i made a bad choice). But when it arrived it is beautiful, I am so relieved and happy,

denphone · 24-09-2016, 13:45

So glad that you are happy with your large purchase nash.

heero_yuy · 24-09-2016, 14:04

Quote:

Originally Posted by nashville

Just received my new suite ( which I was dreading as I thought i made a bad choice). But when it arrived it is beautiful, I am so relieved and happy,

Glad it exceeded your expectations Nash.

weenie · 24-09-2016, 14:20

Quote:

Originally Posted by Damien

Paid off Student Loan

Osem · 24-09-2016, 16:13

Quote:

Originally Posted by nashville

Just received my new suite ( which I was dreading as I thought i made a bad choice). But when it arrived it is beautiful, I am so relieved and happy,

Good for you!

We had similar doubts after I ordered our 2 8ft leather sofas and I realised that'd it'd take structural alterations to get them in the house but now they're in situ we love them.

nashville · 24-09-2016, 16:45

Thanks everyone. Just need to buy a new rug, to match, as we have wooden floors,

TheDaddy · 25-09-2016, 08:32

Quote:

Originally Posted by Damien

Paid off Student Loan

Really, doesn't seem that long ago you were at uni, ugh we are all so old.

Speaking of being old, just when I was starting to feel really jaded about how selfish we'd all become it was heartening to see literally thousands of people doing the night marathon for shine, really has restored my faith but that's a minor mention considering it's raised fortunes for a great cause

Osem · 25-09-2016, 21:19

Quote:

Originally Posted by Damien

ah ok.

Well I went before they increased the fees and changed the way you pay it back. He will have more debt and I believe they increased the interest rate as well.

However they also pay less per salary band than I did and the debt gets wiped out after 30 years I think. So a lot of people will never pay back the whole amount before it gets wiped. It's better to think of it as an additional tax rather than a debt.

As for mortgages etc. It's only considered in the sense you get less take home pay available for a mortgage. It won't appear in a credit check and it isn't considered a debt in the same way a car loan would be. You don't get debt collectors and so on.

Don't worry about this in the same way you would worry about other debt.

There was a good post from the money saving expert about this, I'll see if I can find it.

---------- Post added at 11:44 ---------- Previous post was at 11:42 ----------

Here ya go: http://www.moneysavingexpert.com/stu...n-fees-changes

TVM

weenie · 26-09-2016, 15:32

Quote:

Originally Posted by nashville

Just received my new suite ( which I was dreading as I thought i made a bad choice). But when it arrived it is beautiful, I am so relieved and happy,

Glad your happy nash

nashville · 26-09-2016, 16:54

Quote:

Originally Posted by weenie

Glad your happy nash

Thanks Weenie ,

dilli-theclaw · 26-09-2016, 17:50

.......marmite and toast again for breakfast