Should I pay off my student loan early?
Money Clinic with Claer Barrett
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Should I Pay Off My Student Loan Early?
High inflation means that there's a high interest rate being charged. Also looking at the current financial markets and thinking, would I get much of a return on my investment if I'm invested in them with like the war in Ukraine? If you only earn a little bit over 27,000 pound threshold then your payments are never going to keep pace with the interest that's added to this student loan every year. And therefore it wouldn't be worth paying off because you're never going to reduce that debt to zero. But do you think that your salary expectations will also be a factor in whether or not you should pay off your Loan early?
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