Worry free debt (Student Loans Co.)

Member Name: D.J.Rossco

Product:	Student Loans Co.
Date:	10/07/00 (24 review reads)
Rating:

Advantages: Worry free debt, just that

Disadvantages: All I can think of is that yoiu have to pay it back!

The best part about Student Loans company is that the blighter can't ever take anything off you. You can leave university and never work again and they can't take anything from you. I'm not saying to do this, but just to show that you don't have to worry. You only pay the loan back if you earn more than 10,000 a year and then it only comes off through National Insurance payments, you just pay slighty higher tax rates. Therefore is you get a loan but when you leave you can't get a job it doesn't matter.
I know a few people who have taken loans out to loan their parents as the interest rates are just inflation rates really, you hardly pay anything on them, especially as opposed to what your parent loaning money to buy a car would cost.
Get a loan, there is no point in struggling desperatley along in poverty on what money you can scrape together, you will porbaly be earning about 15,000 a year as a graduate as soon as you start work so don't panic, borrow 2,000 a year and thats not even 10% of what you will be earning per year.
This is not designed to make out that students are all scroungers, but just to point out that there is no need to worry about borrowing from these people. They can't reposses your house and you only pay as you earn and you can't even notice it coming off you wages.

Summary: