Creating a loan payment spreadsheet: getting my finances in order….
| Author | Message |
|---|---|
|
Written on: 04.12.2009 [08:44]
|
|
|
Aude
Aude
Topic creator
Posts: 3
|
Hi everyone, so I was hoping some of you might be able to help me with a few ideas with what I should include on my loan payment spreadsheet? I am trying to organize all my finances and have decided that I will create a spreadsheet with different worksheets across the bottom for each different aspect so that I can have a general overview of all of my income and outgoings. I am most concerned with my student loan repayment schedule. I haven’t finished uni yet but I will do by the end of the year and I have just realised how much I actually owe. I know that they only start taking it off you the April after you graduate but I want to know exactly how much I owe and also whether I will ever be able to pay it off. It seems that each year I have accumulated approximately £400 in interest so i imagine that if I start off with a basic wage I wont be paying off much in comparison to the interest that keeps on building up. Does anyone actually ever pay them off? I mean they only take such a small percentage each year, even from those who earn a lot, plus the first 15k isn’t included so no wonder we have to pay forever. |
|
Written on: 08.12.2009 [03:48]
|
|
|
Bramble
Bramble
Posts: 1
|
I understand your concern and I think it is very wise that you get your finances sorted out sooner rather than later, but I am finding it a little difficult to actually understand what you want from your student loan payment spreadsheet. What do you want your spreadsheet to actually do? I know that the student loan company send you a letter each year telling you how much you still owe so I am not sure what else there is to know? If you are worried about whether or not you will actually pay off your debt then you can always use the calculators they have online. If you have all of your details with you, ie how much you have taken out, how much interest is charged and how much the balance is at at the moment and you salary (which I am guessing you wont know yet as you will have to find a job first) and then it tells you how much you will have to pay and when/if you will manage to pay it off. |
| Also very interesting: | |
