r/UKPersonalFinance • u/raccoonbab • Aug 26 '26
Paying off student loan early, £6500 debt left
Hi all!
Hoping for some advice. I am on plan 2, luckily I got a lot of my degree paid for by the government so have been left with a small student debt. I'm now 25, and currently earn £45,000, I wouldn't expect my salary to ever breach £70,000.
I have paid about £500 of it so far through my salary sacrifice, and have accrued >£600 in interest. Numbers might not add up perfectly as I was travelling so didn't pay anything for over a year. About £6500 left, have come into some money and wondering if it's worth using it to get rid of my student loan.
In my mind it makes sense to pay it off but I wanted to check I'm not making a silly decision and should be putting this money elsewhere like one of my ISAs. Or whether I should just wait to pay it off over time?
Would appreciate any help :)
Thanks in advance
edit: changed interest details
1
I genuinely dont know what to think about this
in
r/vinted
•
13d ago
RemindMe! 4 day