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Original poster

When to pay off student loan in full?

6 replies

AliceFerguson · 05/10/2025 16:19

My husband owes approx. 2800 for his student loan, with 600ish due to come off in Jan due to tax return. He's just changed to direct debit rather than taken off payslip. Does anyone know when it makes sense to just pay it off? I'm not sure what the interest is. I am financially literate normally and know what I'm doing with mortgages but my own loan is so ridiculous that neither us have worried much about it until recently! Thank you. He graduated in 2011.

OP posts:
OrangesPloranges · 05/10/2025 16:52

If he graduated in 2011 and so on plan 1, the interest rates might be less relevant than the practicalities. I had heard about the SLC getting in a right mess towards the end of people's loads and over charging / under charging and then coming to them months/years later with bad news of money outstanding - so when I got to a similar level remaining and had the money to pay it off I just did it to avoid falling into those traps. Not sure if that's no longer a problem these days.

Askingforafriendtoday · 15/02/2026 17:58

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LadiDahnya · 15/02/2026 18:02

I have between 5-6k left on mine it should be gone in arond 15 months. When balance gets to 2k i plan on putting on an interest free cc and getting rid!
If hes plan 1 like i am he can see the interest amount online. Mine is 3.2%

Berriesandcucumbers1 · 15/02/2026 19:32

LadiDahnya · 15/02/2026 18:02

I have between 5-6k left on mine it should be gone in arond 15 months. When balance gets to 2k i plan on putting on an interest free cc and getting rid!
If hes plan 1 like i am he can see the interest amount online. Mine is 3.2%

I don't think you can pay a student loan with a credit card I think it has to be debit

OcadoQT · 15/02/2026 20:00

The interest will be pretty minimal at that amount I wouldn’t fret either way, I switched to a DD this year and am just paying it off for the rest of the year. How big is his DD? Presumably it’ll be gone this year?

Superscientist · 15/02/2026 20:03

He might have already paid it off if he has only got £2800 left to pay as there is a 12-18 month delay between the money being taken through PAYE and being paid off the student loan. This is why you are recommended to switch to paying by direct debit as this is paid off straight away. If you don't you can be still paying off a student loan that you have already paid back. It is a ludicrous system!

If you don't foresee any changes to employment and have no other pressing uses for the money I'd pay it off whenever it suits you best.

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