Any way to earn Avios on voluntary repayments for my student loan?
#1
Original Poster
Join Date: Jan 2018
Location: London
Programs: BAEC Gold, Accor Live Limitless Gold, Hilton Honours Gold, Avis Preferred Plus
Posts: 1,807
Any way to earn Avios on voluntary repayments for my student loan?
I was unfortunate enough to be part of the first cohort of students who were subject to £9,000 per year university tuition fees, combine that with a four year undergraduate degree and I now have quite a large student loan. I am now finishing my PhD and whilst I have been able to make a few small payments towards my student loan from my PhD stipend, it has not been much. I am hoping to start work soon and then I will be saying goodbye to 9% of everything that I earn over £2,214 (before tax) per month as that will automatically go towards my student loan though PAYE.
I am lucky enough that I am currently in a position whereby I want to make a not insignificant voluntary payment towards my student loan. I have had a look around cannot see any way of earning Avios on such a payment, but was wondering if the vast amount of wisdom here can provide a way of earning some Avios on this?
I am lucky enough that I am currently in a position whereby I want to make a not insignificant voluntary payment towards my student loan. I have had a look around cannot see any way of earning Avios on such a payment, but was wondering if the vast amount of wisdom here can provide a way of earning some Avios on this?
#2
Join Date: Sep 2015
Location: Peterborough, UK
Programs: BA Silver; IHG Spire; Avis P+; Global Entry
Posts: 1,505
i made my final student loan payment this month.
They have closed the loophole so they will only accept direct debit or debit cards now, the credit card method is long gone. I cannot see another way how you would do this.
They have closed the loophole so they will only accept direct debit or debit cards now, the credit card method is long gone. I cannot see another way how you would do this.
#5
Join Date: Jun 2014
Location: NCL
Programs: BAEC and Hilton mostly
Posts: 655
Before making voluntary additional payments, could I suggest checking against Martin Lewis's MoneySavingExpert advice? https://www.moneysavingexpert.com/st...t-loans-repay/
(Just in case there are better ways of using the dosh!)
(Just in case there are better ways of using the dosh!)
#6
Join Date: Mar 2014
Location: Leicestershire / Dubai
Programs: BA Silver, Marriott Bonvoy Titanium Elite & Lifetime Gold, Heathrow Rewards Premium, Tesco Clubcard
Posts: 663
If they accept bank transfer, check out Billhop.
You essentially pay Billhop using your Amex and they then do the bank transfer for you.
The fees can be a little high but you need to judge if they outweigh the Avios value.
I used it for the first time this week to pay bills and so far so good!
You essentially pay Billhop using your Amex and they then do the bank transfer for you.
The fees can be a little high but you need to judge if they outweigh the Avios value.
I used it for the first time this week to pay bills and so far so good!
#7
Join Date: Dec 2009
Posts: 858
Bellhop WAY too high for Amex to avios:
Remember, you can virtually always buy avios for 1p each. So really difficult to justify the Billhop fee against the avios earned.....
Except: I have used Billhop to hit a BA Amex 241 voucher ASAP, so I could then cancel the BA Amex and get a pro-rata refund. So the money saved by the refund offset the bellhop fee.
And I have bought £3,000 of Sainsbury vouchers once to meet the Amex Plat Business card bonus spend limit over a very quiet time of year for me!
Remember, you can virtually always buy avios for 1p each. So really difficult to justify the Billhop fee against the avios earned.....
Except: I have used Billhop to hit a BA Amex 241 voucher ASAP, so I could then cancel the BA Amex and get a pro-rata refund. So the money saved by the refund offset the bellhop fee.
And I have bought £3,000 of Sainsbury vouchers once to meet the Amex Plat Business card bonus spend limit over a very quiet time of year for me!
#8
Join Date: Aug 2015
Location: UK
Programs: Executive Club Silver, Kestrelflyer Silver, FlyingBlue & Expedia+
Posts: 89
Last edited by cvm0093; Apr 18, 2020 at 12:08 pm Reason: Non valid idea
#10
Join Date: Apr 2010
Location: YVR
Programs: AA
Posts: 872
One work around I can think of is to possibly do a cash withdrawl from your amex to your bank account (That is presuming you have an amex avios card) and then using the money in your bank account you would have used to pay the fee pay the avios card instead before interest accrues?
#12
Original Poster
Join Date: Jan 2018
Location: London
Programs: BAEC Gold, Accor Live Limitless Gold, Hilton Honours Gold, Avis Preferred Plus
Posts: 1,807
Thanks for the responses, it seems that the "Curve -> Tesco credit card -> Avios" method will work best, flyingManc you say: "Rate isn’t amazing", but what is the actual rate?
I think that cash advances on the Amex don't earn any Avios and also earn a boat load of interest and from what I have heard affect your credit score too, so I think that I will avoid that one.
I think that cash advances on the Amex don't earn any Avios and also earn a boat load of interest and from what I have heard affect your credit score too, so I think that I will avoid that one.
#14
Join Date: Jun 2016
Location: Manchester
Programs: BA
Posts: 41
Thanks for the responses, it seems that the "Curve -> Tesco credit card -> Avios" method will work best, flyingManc you say: "Rate isn’t amazing", but what is the actual rate?
I think that cash advances on the Amex don't earn any Avios and also earn a boat load of interest and from what I have heard affect your credit score too, so I think that I will avoid that one.
I think that cash advances on the Amex don't earn any Avios and also earn a boat load of interest and from what I have heard affect your credit score too, so I think that I will avoid that one.
250 clubcard points -> 600 avios
So £1000 = 600 Avios
#15
Original Poster
Join Date: Jan 2018
Location: London
Programs: BAEC Gold, Accor Live Limitless Gold, Hilton Honours Gold, Avis Preferred Plus
Posts: 1,807
Before making voluntary additional payments, could I suggest checking against Martin Lewis's MoneySavingExpert advice? https://www.moneysavingexpert.com/st...t-loans-repay/
(Just in case there are better ways of using the dosh!)
(Just in case there are better ways of using the dosh!)
For my situation, both my calculations and MoneySavingExpert suggest that overpaying is likely to be a good idea.