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Author Loans
Hamish
Member
Registered: 4th Apr 05
Location: Ashtead, Surrey Drives: 100bhp Mint with Hole
User status: Offline
10th Apr 07 at 00:59   View User's Profile U2U Member Reply With Quote
personally i dont see why people take out loans unless its for a morgage/house. Why dont you just work a bit harder and save a bit more

I have a student loan btw
Rob H
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Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
10th Apr 07 at 01:14   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Hamish
personally i dont see why people take out loans unless its for a morgage/house. Why dont you just work a bit harder and save a bit more

I have a student loan btw


Kinda shot your own foot off with the last comment really didn't you .
Hamish
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Registered: 4th Apr 05
Location: Ashtead, Surrey Drives: 100bhp Mint with Hole
User status: Offline
10th Apr 07 at 01:15   View User's Profile U2U Member Reply With Quote
yea, but my student loan is in an ISA earning interest
Colin
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Registered: 4th Apr 02
User status: Offline
10th Apr 07 at 01:18   View User's Profile U2U Member Reply With Quote
I have a student loan, I dont class it as a loan though, Just now I owe £4k student loan, however the amount you pay back is very small, no interest is applied & the loan will help me jump from an ok wage to an amazing wage. Money well spent imo!!!

[Edited on 10-04-2007 by Colin]
Rob H
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Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
10th Apr 07 at 01:19   View User's Profile U2U Member Reply With Quote
Ah right, fair enough .

Out of interest, How much do you actually earn off it after you've taken the inflation into account?
Hamish
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Registered: 4th Apr 05
Location: Ashtead, Surrey Drives: 100bhp Mint with Hole
User status: Offline
10th Apr 07 at 01:22   View User's Profile U2U Member Reply With Quote
well i get £4.5 a year in loan and the isa is paying 5.3%. Its not much but im earning free money off the government atl east
Rob H
Member
Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
10th Apr 07 at 01:26   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Hamish
well i get £4.5 a year in loan and the isa is paying 5.3%. Its not much but im earning free money off the government atl east


Fair play . I did look into it briefly i think before going to uni, but i wouldn't have got the full loan each year, and once i'd taken into account the amount of inflation (think it's around 2%), and then I think there's an early repayment fee, it was more hassle than it was worth to bother doing it .
JM_16v
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Registered: 17th Oct 05
Location: Essex Drives: GLC63S
User status: Offline
10th Apr 07 at 07:04   View User's Profile U2U Member Reply With Quote
can i get a student loan as i go to uni once a week even thou im earning money
dna23
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Registered: 1st Nov 04
Location: Northamptonshire
User status: Offline
10th Apr 07 at 07:45   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by JM_16v
can i get a student loan as i go to uni once a week even thou im earning money


http://www.studentsupportdirect.co.uk/

Best bet is to look on there, doubt it though
Mather.16v
Member
Registered: 1st Nov 04
Location: Stockport
User status: Offline
10th Apr 07 at 08:42   View User's Profile U2U Member Reply With Quote
6k loan over 48mths at 9%

im paying double payment each month to get it out of the way
Rob H
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Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
10th Apr 07 at 13:09   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by JM_16v
can i get a student loan as i go to uni once a week even thou im earning money


Depends if it's a full time course or not, which i presume if it's only once a week it's not, or if it is i'd be wondering what relevance it's actually gonna have
mav
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Registered: 19th Jun 01
Location: Scotland
User status: Offline
10th Apr 07 at 15:16   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Hamish
personally i dont see why people take out loans unless its for a morgage/house. Why dont you just work a bit harder and save a bit more

I have a student loan btw


wait till you have a house / car / kids etc....not always that easy just to save up

you should be working harder in maccy d's to put yourself through uni
M2RTY
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Registered: 25th May 01
User status: Offline
10th Apr 07 at 17:40   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Mather.16v
6k loan over 48mths at 9%

im paying double payment each month to get it out of the way


why not take it out over 24 months then?
p20ele
Member
Registered: 6th Apr 07
Location: Keith, Moray
User status: Offline
14th Apr 07 at 11:33   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Colin
quote:
Originally posted by p20ele
TSB, 25 grand over 7 years, £350 a month

grr


£25k for...............?


25% of my house, shared ownership scheme, I pay rent on the rest till I can afford to buy another bit
Tiesto
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Registered: 6th Jun 02
Location: Hinckley, Leicestershire
User status: Offline
14th Apr 07 at 15:33   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Hamish
personally i dont see why people take out loans unless its for a morgage/house. Why dont you just work a bit harder and save a bit more

I have a student loan btw


I don't see any problems with loans tbh, not everyone can save 8k plus for a nice car - well not me anyway. If you know the repayments and can stomach the APR then it's a good.

I have a loan of 7.5k over 4 yrs @ £159 a month - which half has been put in an ISA and other to buy my car.
Rob H
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Registered: 28th Oct 00
Location: Staffordshire Drives: Astra SRi
User status: Offline
14th Apr 07 at 23:23   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by Tiesto
I have a loan of 7.5k over 4 yrs @ £159 a month - which half has been put in an ISA and other to buy my car.


How did you manage that? that's only £130 interest over 4 years which is less than inflation
ShEp
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Registered: 9th Aug 05
Location: Dingwall, Highland
User status: Offline
15th Apr 07 at 00:45   View User's Profile U2U Member Reply With Quote
i have no debt, no loans, no credit cards or nothing

earned it all
johnhara1
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Registered: 19th Oct 06
Location: Newcastle upon Tyne
User status: Offline
16th Apr 07 at 12:16   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by ShEp
i have no debt, no loans, no credit cards or nothing

earned it all


So why post in this thread???
johnhara1
Member
Registered: 19th Oct 06
Location: Newcastle upon Tyne
User status: Offline
16th Apr 07 at 12:19   View User's Profile U2U Member Reply With Quote
£5K from Barclays over 3yrs £207.08 a month. £5900 when protection is added.

Bought an XE Corsa, Paid 1yr Insurance in full, Cleared Overdraft £1000, Went to Florida with the rest.

Sold Corsa yesterday for £2000 still owe £4500 never again!


If you've got a secure job dont bother with the protection, Barclays were the only place that would accept me for a loan as ive got no previous credit history so its quite a high interest rate. Also they wouldnt give me it unless it was protected




[Edited on 16-04-2007 by johnhara1]

[Edited on 16-04-2007 by johnhara1]

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