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Should I plan to pay off my student loan early?
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Hey everyone,

I know there's been a lot of advice in regards to wether or not you should pay off you student balance however I wanted to see if I could get some more insights on my particular situation.

I've recently graduated from university and have just checked my student balance, which is around £92,000. My mum has around £20,000 which she is willing to give me to pay part of it off early so I wouldn't earn interest on it. My aunty is also willing to give me another £10,000 which I can pay off slowly over the next 5 years, with no interest on it. I am currently living at home with my mother and siblings and help out here and there with bills and groceries. I also have a graduate job lined up in September for £60,000 per year. After the graduate scheme (2 years), the expected salary is around £75,000 - £85,000 depending on the team. After working 2 years as an associate, the salary is then around £105,000-£130,000. From here on outwards, it varies significantly.

Given all the above, would it be okay to try and pay off my student loans over the next couple years?

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4 months ago