Student loans aren’t a debt – change the name to avert a national tragedy
Language is powerful. In some countries around the world that use our student finance system, repayments are called a contribution. In the UK we call it a loan – that’s killing us. With the increase in tuition fees, we risk damaging a generation of youth because of it. This isn’t solely about the fear-factor of huge ‘debts’,...
Universal credit will push people into 5,000% APR loans
Last week, on the BBC’s Daily Politics, I commented that the new universal credit system is likely to cause a budgeting bloodbath. Yesterday I was pleased to see a report from the Social Marketing Foundation echoing this (see the Monthly benefit payments ‘risk backfiring’ MSE News story). This is all about a nightmare transitional issue. As part...
Turning the MSE forum into a true social network…
The launch of the Citizens Advice Bureau board in the MSE forum is a more radical change than it may appear. Our forum has more active UK users than Twitter (source: YouGov), yet when social networks are discussed, it’s overlooked. After Facebook, the dominant UK social media platform are forums – MSE, Mumsnet, The Student Room, Digital...
Time to ban bank staff sales commission?
For too long, we’ve had speed-bump financial services with products launched, sold heavily by highly incentivised, ill-trained staff, then the brakes put-on with mis-selling reclaiming campaigns. That’s bad for both consumers and the industry. The regulator, the Financial Services Authority (FSA), yesterday launched its report into how banks and other financial services staff are incentivised to flog...
A hidden way to boost Nationwide’s rates
It’s the UK’s biggest building society, widely trusted, with a loyal user base. Yet, if you like the strength and values of the Nationwide, you may be surprised that its existing customers don’t get the best deals – it often saves them for rate tarts going through its little known sub-brands. I was inspired to blog on...
Latest MoneySaving Tips
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Martin's 10 financial quirksIncl how to make £100s
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Warning. Check card contact detailsOr risk purchases being declined
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40+ supermarket couponsIncl free nappies
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Boots tricksEg, £43 of No7 for £10
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5th self-employment grant updateGovt puts out new info
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Theme park 2for1sThey're back
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Ending. Shift card debts to 29mths 0%Plus get £25 cashback
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18 Ikea hacksIncl 60-70% off
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Travel refund rightsAs Portugal axed from 'green list'
Recent Blogs
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Martin Lewis: Why you shouldn't worry too much about your credit score – it’s not actually a real thing
14 June 2021![]()
When it comes to finances, numbers are key – whether it's what you earn, your credit card balance or the interest rate on your mortgage, small changes can add up to a big difference. Yet there's one number you shouldn't pay too much attention to – your credit score. -
Martin Lewis VIDEO: Should you pay off your Plan 1 student loan?
18 May 2021![]()
If you started university between 1998 and 2012, or since then in Scotland and Northern Ireland, you'll have a Plan 1 student loan. While much is written about whether those with savings should overpay the current English Plan 2 student loans, there's little out there about Plan 1. I wanted to change that, so here's a video explaining how to decide...
