Question: I graduated in 2008, Ive found a job I enjoy but the pay is ****. About 12k a year (before tax!!!!) But hey at least I am working. So i still cant afford a car... I cant afford insurance.... I cant move out yet..... I feel frustrated but I am patient and hope I'll gain experience for a well paid job in the near future. Anyway so I get home tonight and I find my student loan is charging me £60 a month interest!!!! I am actually crying now..... I am so fed up I think I want to leave the country. I feel I will always be stuck. Always be poor.... I cant see myself having a decent life.... Are you paying that much interest???? It is crazy. F*** uni. To all of you out there- think twice. ( Yes i am bitter right now!! )
Answer: OMG. I tried to find out the interest rates before going but they kept it so hidden, are you kidding me??? Jeez. I would leave the country, if your not making a good life.
I wanted to do that and still do. Im at Uni now and they would charge me for the whole year if i left which is horrid, Ive only been here 2 months.
Really evaluate your life. Tax is crazy. And i bet your think if i was on 40 grand a year id be fine, well they tax 40% of that. Im leaving straight after Uni cant understand how they work.
So my advice hunny would be to really explore your options, put yourself out there. If you feel like the UK isnt doing it you know what to do but dont leave just because of money, you'd probably regret it. Get on some graduate career fairs, improve your CV. Lie in it if you have to.
Well thats all i can say at this point, when i leave its like i'll have a lot to do
Others:
Yeah, they're bastards wen it comes down to interest, and i'm afraid that is crazy and it's what you've gotta pay. However, if i were you, i'd contact the student loan company and have see if repayment can stop since your on 12k and not 15k a year.
I'm only working part-time at the mo, so im not paying mine back just yet...*gulp*
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I thought you didn't start paying it back until you are earning £15k per year?
I have heard that if you are working and can afford to build up a lump sum or happen to be given a sum of money you can make a settlement offer to the loan company. it worked for the person I heard about and they saved themselves several thousands of pounds - just a thought
I suppose you could get a load of cash in whatever way you feel is appropriate !!!