Do any of you ever think about paying off your student loan in one go ?
Given that student loans in the UK is structured differently than the US (the higher you earn, the more you pay - gets written off after 30 years); at what salary range would you even consider paying it all off?

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Due to the way student loan repayment is structured here (tied to income, directly taken from your pay) there really is no incentive to paying it off earlier.

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A1 if you just started your consulting career you should factor in that you might be wrong about wanting to stay for 10 years

Also IMO paying off your 6% interest student loan would be better than a 7% return on your investments as one is completely risk free and the other is inherently risky

Not recommending either way but some things to consider

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I think about this every time I see that additional pesky 9% of my bonus go to student loans 😡

But have also concluded I’m making more than 6% returns on my investments, and need the lump sum for a London home deposit

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Also A1, make a spreadsheet really helps. My calcs showed me I was better off using that money as a deposit to get a mortgage and making that mortgage work for me

6% of £100,000 is smaller than 2% of a leveraged £500,000 mortgage if you catch my drift (round numbers used here for simplicity)

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