Students should ensure that interest rates increase too drastically and be prepared to take the required action for instance consolidation to lock in on a lower interest rate. Students living away from home and studying outside their City could get up to 10 to 20% more, whilst students who live at home with their parents could get only basic loan required.
Your student loan is a debt you owe for your education and, although an education isn't a physical object like a car, house, furniture or similar purchases where a loan is needed, you should treat your loan as you would any other kind of debt because the consequences for defaulting on a student loan are the the same; if not similar. But the terms of your student loan are so generous that it seems a shame to sacrifice a lot of liquidity to accelerate the payment.
