Should You Pay Off A Student Loan

The average student now owes £45,000 when they graduate from university, and interest rates on that debt have never been higher, with some students seeing over 7% added to their statements in the last 12 months. With such high rates, should graduates focus on getting the debt down as soon as possible?

Here is the link for the student loan repayment sheet:
https://financialinterest.com/student...

Student loan calculator:

https://studentfinancecalculator.co.uk/

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00:00 - Value
01:05 - The Dearing report
02:08 - How long will it take?
02:45 - The interest rate
03:48 - Inflation vs the rate
05:09 - What percentage pay it back?
07:18 - Who should overpay?
09:47 - Graduate tax

ATTRIBUTIONS:

Video Title: Don't let money get in the way of university - a Welsh Government video
Author: Welsh Government / Llywodraeth Cymru
Source: Don't let money get in the way of university - a Welsh Government video.webm
License: Creative Commons Attribution 3.0
Welsh Government on YouTube, CC BY 3.0 https://creativecommons.org/licenses/..., via Wikimedia Commons

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