Would you invest your student loan?? I’m not sure I would’ve been so confident with the stock market volatility at 18 years old... but I’m keen to know your thoughts!

Amazing video! Very informative and clear! Thank you :)

@VeroniaSpaine

2 жыл бұрын

You're very welcome and I'm glad it was useful!

Thank you for sharing this. Extremely informative

@VeroniaSpaine

2 жыл бұрын

Glad you found it useful!

This was helpful thank you!

@VeroniaSpaine

3 жыл бұрын

You're so welcome!

In the UK we are so lucky when it comes to student finance. It really is not worth overpaying for the vast majority of the population. I got my degree in the US and I think a lot of the financial advice on the internet is more US focused. Definitely planning to do a UK vs. US student loan/finance video.

@VeroniaSpaine

3 жыл бұрын

Yeah I think the US is just so different, I think I definitely would’ve tried to pay it off quickly if I was there!

Nice informative video, I’d been going over the Dave Ramsey argument of clearing all “debt” in my head when it comes to U.K. student finance, but ultimately I think what Martin Lewis says is correct and that it’s only the super high earners who would think about paying it off early (not quite there yet 😅). Thanks!

@VeroniaSpaine

3 жыл бұрын

Yeah I know how you feel, I love Dave Ramsey so I wasn’t sure if that would apply to baby step 2! But I think how Martin Lewis explains it really helped me figure out whether it’s a priority or not!

What student finance don't tell you is; the repayment threshold is set quite low, and the government can adjust this at a whim, also repayments increase very fast as your income rises, the example they give is only slightly above the threshold, so it appears reasonable but with a reasonable income the repayments are huge. Another point is they charge 5% interest which is ridiculously high and with compound interest the debt increases even further. The reason they push these loans is they make a profit on them. Our government are a bunch of crooks!!!

Well done 👏🏻👏🏻👏🏻✔️💵

@VeroniaSpaine

3 жыл бұрын

Thank you!

Great video ✍🏾

@VeroniaSpaine

Жыл бұрын

Thank you!

I do like the idea of investing in yourself, I wish I did that when I was at uni!

@VeroniaSpaine

3 жыл бұрын

Yep me too!

Thank you

Feel more comfortable after this video 👍🏾👍🏾

@VeroniaSpaine

2 жыл бұрын

That's great to hear! Hopefully it clarifies a few things too!

I work for the marketing and tech dept for an investment firm and had it not been that I talk to financial advisor colleagues everyday I probably would never have tried investing so thank you for making this topic to help others ✌️💜💰💵👑

@VeroniaSpaine

3 жыл бұрын

Thank you, I do think it’s so important and I’m hoping more people will start to learn about it!

Yeahh i think alot of people dont realise how necessary or unnecessary it actually is.. it adds up alottt!

@VeroniaSpaine

3 жыл бұрын

Yeah and I do think people have struggled to understand some parts which could impact their decisions!

I think we have a good deal in the uk. They take minimum af payments. Do not overpay, most people don't reccomend it because it's cancelled after 30 yrs or when you die. Try to not ever take out anything but the actual course loan, maintenance is a rip off. And try going abroad or studying with a home university for lesser fees. You can work too.

@VeroniaSpaine

3 жыл бұрын

Yeah I worked during a part of my studies to supplement my income which really helped I think!

@nave8347

3 жыл бұрын

how is the maintenance a rip off if you're still only going to pay the 9%? (if earn more than 22k), I really can't seem to understand this logic As there's interest on both student finance loan and maintance, so meaning whether you even get the full amount or not, you'll still be paying the 9% until 30 years as the loan will increase every year

I wish I knew all these tips in my twenties🤦🏻‍♀️😃

@VeroniaSpaine

3 жыл бұрын

I’m the same I wish I knew this in my early 20s, life would’ve been very different I think 😂

I received the low maintenance amount , like 4.422 £ . Will this still be payed in 3 instalments, or at the beginning of the year? Thank you

@VeroniaSpaine

2 жыл бұрын

I would double check the letter you received, from memory mine was paid each term (e.g. 3 instalments) but it might be different for yours!

I am 17 going into uni next September, do u have any book recommendations for investing because I don't know anything about it or how it works

@VeroniaSpaine

2 жыл бұрын

I found the meaningful money handbook as a really great starting point! This is the book (it's an affiliate link - I got it from Amazon!): amzn.to/2GVuaUj

@ahouseofprayerministries2443

2 жыл бұрын

@@VeroniaSpaine thanks so much I am gonna purchase it. Also, please could you make videos on how teens should save money for the future

@VeroniaSpaine

2 жыл бұрын

@@ahouseofprayerministries2443 I've got quite a few saving videos on my channel if you haven't seen them already! I think they could be applied to many ages! But if there's something specific you want to know just let me know!

If you want could you use your entire salary to payoff as soon as you possible even if you're under the threshold somif you're earning 20k a year could you spend all of it on paying back the loan and have it done in 2 years.

@VeroniaSpaine

2 жыл бұрын

This would definitely depend on your goals - remember you might not even end up paying the full loan back! Plus most people will have other expenses/ commitments to consider too

I wish I knew earlier

@VeroniaSpaine

3 жыл бұрын

At least you know now, it’s never too late!

I got my admission to Hertfordshire international college last 2 weeks, but I’m still in Nigeria. Can I apply for a student loan?

@VeroniaSpaine

3 жыл бұрын

I would check the student loans company website as it would really depend on your background!

@chrisairdrop8022

3 жыл бұрын

@@VeroniaSpaine I checked, they stated I must have been living in the Uk for at least 3years. That’s too bad, I really needed it for my tuition deposit at least