Useful (Student Loans Co.)

Member Name: lousimps

Product:	Student Loans Co.
Date:	26/07/00 (26 review reads)
Rating:

Advantages: Low interest rate

Disadvantages: Cheque arrived nearly 3 months late last year

Student loans are a necessity for those at university now. Since grants were abolished 2 years ago.

Unfortunatly, it's a fact of life now, that if you go to university you will leave being upto £12,000 in debt. Luckily, the debt isn't like a morgage in that the interest is quite low, and you don't start paying it back until your salary hits £10,000pa.

So, not only are they useful, they are needed by the vast majority of students.

However, lets hope the Student loads company gets it right this year. Last September, millions of students were left having to go on their knees to their bank managers (me included) to beg for an overdraft, after the Student Loans Company did a major cock up somwhere and so hardly anyone got their cheques at the start of september. In fact I didn't get mine until the end of November! Why on earth the first payment of the year has to be by cheque anyway (when the other 2, one in January, one in May) are by direct credit transfer.

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