Saving your loan! (Student Loans Co.)

Member Name: micbarnes

Product:	Student Loans Co.
Date:	21/05/01 (55 review reads)
Rating:

Advantages: can pay loan off ASAP, can pay back parents

Disadvantages: not a lot of money to splash around

I am currently a student in my first year. I made the decision early on that i wanted to stay local and go to a Uni where i could stay at home and study. I chose UWE in Bristol and discussed with my parents what financial options were open to me. We decided that they would pay for the tuition fees which were £1070 and i would apply for a student loan.
I have put that loan to good use in a high interest ISA where at the moment i am earning £80 - £100 a month interest. This way as the amount in the account increases so does the interest and at the end of my four year course i will be able to pay my parents the tuition fees back and the loan should be paid off quickly!
I must stress though that i do have a job at a local clothes store although i only earn about £100 a month and i still have a social life. Take note if i can go out and live on £100 a month so can you!

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