Debt-free!

[fivemack]

I have just paid off my student loan. Mine was the first year that had loans, at a highly uncommercial interest rate; I let the loan mature for four years while I did a PhD, and started paying it off at £125 a month in about June 2003. Now I can switch that standing order into savings, so that I never see the extra money to feel that it's there to be spent.

I think tombee, to whom I sold in the second year of my PhD the computer which I bought with my second undergraduate year's student loan, threw it away about three years ago; hardware dies, but debt endures.

Comments

[lnr]

*nods* yeah, my mum had a student loan as a mature student in the early 90s. She didn't qualify for grants because she'd studied before at 18, despite the fact she dropped out after her first year first time round.

It was the fact she was a student the year before I went to university which meant my family's income was low enough to qualify for any grant at all, and it wasn't a huge amount.