A Cunning Business Opportunity for Students!
This is a great business opportunity for fresher students eager to make money for doing absolutely nothing. Zilch, nada, nothing…
For this business opportunity to work you need to try and secure the BIGGEST student loan possible. Really emphasise on the forms that you want the maximum payout. According to the government website that’s about £3,070 each year (not too shabby).
Now instead of running to the nearest pub/bar/clothes shop/horse race armed with crisp wads of cash you now need to take a deep, deep breath and invest the money.
That’s right, take out an ISA, a high interest savings account… whatever. Just get the best rate of interest you can.
Of course you’re probably going to be a wee bit out of pocket in the meantime, so get a part time job to make money or beg the parents for a special ‘interest free loan’ to tide you over.
After three years of investing your student loan, the interest should be pretty sizeable, particularly after the interest compounds. WELL over a grand at the very least.
What you do after that is up to you.
If you can scrape by without paying it all off then do that. Student loan interest is incredibly low (compared to bank loans) so the interest will easily make waiting worthwhile.
Then relax – you make money in your sleep. Simple!
Filed under: Sound Advice, Student Business Opportunities, Bank Business Opportunities
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