News

Understanding student loans

Posted 5th January 2016

The student loan you take out whilst studying at Huddersfield University, will probably be the first loan you ever take out. Owing such a large amount of money can be a daunting prospect, so it’s important to understand how the loans and repayments work and don’t spend all your time worrying about it!

Do you know:-

How the loan is paid?

How much interest you will be charged?

How do you repay the loan?

Should you pay the tuition fees up front if you have the money?

Should you pay the loan off if you have the money?

And many more questions.

Martin Lewis has some really good advice on these issues – here’s a link to his website:

http://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes

Check out his article to understand why your student loan is no bad thing at all and why you shouldn’t spend any time worrying about the ‘debt’ as it’s not really a debt at all. Think of it as an investment in your future! You have to be earning a decent salary before you start to pay it back. So if you are paying it back, it means your degree has probably landed you in a good job!

Happy New Year from everyone at Edge Student Living!