Is it Feasible to Pay Education Loan within 5 Years of Completing College?

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Studying in London can be a dream comes true. Amy always wanted to study finance and accounting in London. She hailed from Tennessee, USA yet she wanted to live in Oxford, the UK, with her grandparents.

She had a talent for numbers, they spoke to her. Most kids of her age wanted to pursue arts but she wanted to be aware of how accounts and finance can be the platform on which global organisations seek growth.

She knew, that if wanted to build a career out of her love for numbers, she would have to move tomorrow afternoon to a big city like London and pursue her dreams. She even learned all about taking online student loans in the UK.

Learning Finance in London

No doubt, the UK is famous as a worldwide financial centre, but her parents were skeptical of her decision. She knew that by going to the UK, she would be studying accountancy and finance in such a community, which is popular as a rich, culturally diverse community.

Nevertheless, it is one thing to aspire for and another to fulfill. Her hard work got her accepted into her dream university, but she didn’t get any scholarships. Calculating her financial situation, her single mother knew it would not be possible.

It almost felt like she wouldn’t be going to the UK when her great aunt Betty appeared as an angel. She offered to pay the fees for her first-year tuition. It was a silver lining, but she still had to arrange living expenses.

She spoke to her grandfather, and he suggested getting a loan.

“Lot of young students in my neighbourhood live here and study on loan. They also earn part time to manage living expenses.”

Her grandfather rents his rooms to some Indian students as well. Too bad Amy didn’t get into Oxford, or so much of her problem would have been solved. She decided to get an education loan.

Education Loan

She and her mother met a career counselor and a financial advisor the next day. They discussed all the possibilities at length.

Finally, they concluded the plan. Amy would get an education loan from direct lenders in the UK and work part-time to manage daily expenses. Being a finance buff, it was not difficult for her to figure out her costs and ways to manage them.

With the loan money, they were able to pay for her first year. There were still 2 months before she had to move to London. She joined a nearby fast-food joint for work. Amy always believed in saving. She had some savings, and she added all her earner pay and tips to her savings.

By the time she had to go, she had saved up enough for the tickets. Finally, the day came. She said goodbye to her mother. The flight was early in the morning. Her mother dropped her at the airport in her car, they hugged, and her mother gave her a goodbye kiss.

She said goodbye to her mother with a heavy heart and entered the airport. When she boarded the flight, she was determined to make her stay and education in London worthwhile.

London: a Place for Learning

In London, she did not waste time traveling and sightseeing. The first thing she did was find a job. Soon she found a paid internship job nearby her campus.

The pay was handsome enough, but she did not settle for this. She did the calculations and found out that she would be able to pay up her loan in 10 years if she saved 60% of her income and got a job right after college.

Although this was also good for many people, she wanted to reduce the time further. She decided to invest. However, she lacked the education and didn’t know where and how to invest. She started searching and browsing. She was learning finance in college, yet it was difficult to figure out the right investment for her with lesser risk and maximum benefit.

She requested her professor to guide her. Lucky for her, one of her professors was very kind to her and showed full support to her. He gave them the books that would guide her better towards making better decisions.

Investment: A New Possibility

She learned many new and intriguing things about investment, such as risk analysis and management. Soon she was ready to enter the investment world. She made a small investment. She invested her money in two places. Her first investment blew right away. However, the second one was a huge success.

She was happy about the success, but she was disappointed with her failed investment. She had done all the calculations, yet it failed.

She wasn’t going to bow down to the situation. She kept learning and trying. She never invested all of her funds in one place.

Her savings kept growing, and her funds increased at a high rate because of the right investments.

By the time Amy completed her college degree, she was a proud graduate with enough funds to clear her debts within the next five years. After she finished college, she joined an investment firm with very handsome pay. Her early experience paid off well, and she kept getting promoted. Soon she started her own investment firm.

Today Amy Jenna Foster is a very successful investment banker and a well-known name in her field.

Conclusion

Amy always wanted to study finance and accounting in London. She hailed from Tennessee, USA, yet she wanted to live in Oxford, the UK, with her grandparents. Her hard work got her accepted into her dream university, but she didn’t get any scholarships.

Amy would get online student loans in the UK and part-time manage her daily expenses. Amy was determined to make her stay and education in London worthwhile. She found a paid internship job nearby her campus, but she did not settle for this.

Amy Jenna Foster was learning finance in college. Soon she was ready to enter the investment world. She made a small investment, and her first investment blew right away. However, she wasn’t going to let it hold her back. She kept trying and eventually became a successful investment banker.