Kindergarten interest (Student Loans Co.)

Member Name: northers

Product:	Student Loans Co.
Date:	17/08/00 (29 review reads)
Rating:

Advantages: Very good value

Disadvantages: Long term repayment

I started at university eight years ago, doing a degree, followed by a PhD. Now that I have got myself a job, the student loans that I got out have now come home to roost.

Whilst the idea of self-finance has been a bitter pill to swallow, I don't think it would be possible to find a better loan system, with lower interest rates.

My advice would be to only get them out if you really need them, or if you don't mind the inevitability of a long-term repayment at the end of your studies.

I have to say that I used mine to go travelling, something that I would not have been able to do otherwise, so I was glad of the chance to borrow a bit of cash over a long term.

Apart from this, I found the grant to be just about enough, as I wasn't down the bar every night. Now before anyone tells me I didn't have a life, I did go out, but I never lost track of the main purpose of being at university. Likewise, before anyone says we had it easy in those days, I knew people that would habitually blow a whole term's grant in the first month.

The loans are a very useful thing to have at your disposal, but it may become a yoke around your neck in the long run.

Summary: