Lender “Dannyspud” is at university and has chosen to shun boozey indulgence and instead invest whatever he has left from his student loan into Zopa. He got in touch to let us know how he’s getting on.
“ Back at the end of my first year at university I found that between both student loans and bursaries I actually had a bit of spare money available. Rather than buy a massive television or a massive amount of alcohol I decided to invest it. This way I could make a dent, albeit a very small one, in those very same student loans I’ll soon have to repay.
Unfortunately at the time the recession was in full force and interest rates were plummeting to almost non-existent levels. It was then that I first heard of Zopa. At first I was a bit sceptical, given the state of the economy and the low interest rates offered elsewhere, how could this company be offering such high returns? I read further into it and found to my surprise that the offer was genuine, lenders get a better interest rate and so do the borrowers, and after reading about the security provided against bad debt I was sold and I haven’t looked back since.
It has now been roughly a year since I started lending with Zopa and my investment has earned many times more money over that period than a similar amount sitting in my "emergency fund" and while the amount may not exactly be life changing, I am an unemployed student after all, it is nice to know that I have begun to chip away at the mountain of debt I will leave university with.”
If you’re using your Zopa earnings to help pay off your student loan, or to help fund your children or grandchildren’s education we’d love to hear from you. Send your story to firstname.lastname@example.org.