Summary: Be financially cautious as a student and you should reap the benefits when you are employed.

Student loans. Living at low cost. Page 2

Author: Richard Norfolk

There is yet another get out clause; if your earnings never

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reach the repayment threshold, they will be written off completely at age 65! It really is a shame that this type of loan is not more universally available!

Whether you will ever reach the repayments threshold is in your own hands to a large extent, and it could take several years after graduation before you do. During this time you will have the ( life insurance advisers ) millstone of debt haunting you; currently the average on leaving university is over £10,000 and this is expected to increase considerably in the next few years. At least you have the reassurance that the amount owed is not increasing in real terms - there is no interest being charged on interest.

If you possibly can, avoid all temptations, especially of the financial kind. A credit card is a hand grenade if the hand holding it is desperate. Agreed, they are no problem if paid off in ( car insurance quotes ) full every month, but this is not your aim is it? You need cash and you need it now. So very shortly you find that your repayment is inconvenient or impossible, and there you are on the aforementioned slippery slope of interest charges.

Banks offer interest free student loans but these also carry in-built dangers. You can usually borrow around £2000 (a sprat to catch a mackerel - they want your business when you ( term assurance ) are a high-flyer) but exceed your limit and wham!! You are just another customer and you are likely to find yourself paying for an unauthorised overdraft plus high interest charges.

Really, when it comes down to it, you have but one choice. Conduct your financial affairs with great care and in fine detail; you will benefit greatly in the short term and once you ( car insurance cover ) ARE a high flyer, then the world will be your oyster and maybe you will even be able to dictate the terms of a loan.

Your home may be repossessed if you do not keep up your repayments on a mortgage or any debt secured on it. Loans may be secured on your home or other property. Think carefully before securing other debts against your home.