Deleted
Deleted Member
Posts: 0
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Post by Deleted on Jul 9, 2024 9:25:52 GMT
Fair enough. I'll think about paying it down, but I just the tax free element of premium bonds too much plus we want to buy our next flat or even house. But you don't get tax deduction for student loan interest, so the 7.9% is directly comparable to the tax free 4.5% you get on premium bonds. I see your difficulty regarding housing. That's a horrible bind to be in. We'd rather have equity that grows and I know that in 23 years the student loan gets written off, plus I might be below the earnings threshold again soon. We just think saving the £100k deposit needed on a terraced house in Zone 2 / Zone 3 is better than paying down student loan debt.
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Post by aargauer on Jul 9, 2024 11:35:03 GMT
But you don't get tax deduction for student loan interest, so the 7.9% is directly comparable to the tax free 4.5% you get on premium bonds. I see your difficulty regarding housing. That's a horrible bind to be in. We'd rather have equity that grows and I know that in 23 years the student loan gets written off, plus I might be below the earnings threshold again soon. We just think saving the £100k deposit needed on a terraced house in Zone 2 / Zone 3 is better than paying down student loan debt. I would be surprised if that happens. FWIW I think you are likely to have paid if off anyway before you are 50.
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The Bishop
Labour
Down With Factionalism!
Posts: 38,205
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Post by The Bishop on Jul 9, 2024 12:45:37 GMT
I note that the poll on this is still live btw ![:)](//storage.proboards.com/forum/images/smiley/smiley.png)
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Post by stb12 on Jul 9, 2024 15:35:27 GMT
I note that the poll on this is still live btw ![:)](//storage.proboards.com/forum/images/smiley/smiley.png) Not anymore ![;)](//storage.proboards.com/forum/images/smiley/wink.png)
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