[charlottehattonx]

I'm going to start a nursing course in September (37.5hrs a week.)

My parents advised me to live at home because it would be cheaper and I took their advice but I really wish I didn't. My bursary works out at £196 a month, and out of that they want £50 a month, I have a car that has running costs plus food/travel expenses whilst I'm on placement I can't afford this, never mind a social life.

I came up with the idea of a student loan, but they've told me if they find out I've applied for one they'll charge me a lot more, I can't win and I can't afford to go to uni. Their suggestion is to get a job, I don't think this is possible on a nursing course..

I've tried calmly talking to them a million times but they're not interested, plus they've told me when I've finished my degree I'm to stay at home to save for a mortgage because renting's a 'mug's game'.

I can't cope with this anymore, can somebody help? (If I move into halls they said they'll take my car off me as they help with costs, but they don't get I can't pay that much. - They also won't budge on the price.) I wouldn't mind at all paying board if it was a reasonable amount in comparison to what I was earning.

[jacketpotato]

I think you should apply for a student loan and try to move out. Living away from home is much more fun.

Not taking a student loan is daft, there is no jusitification. It is very low interest, you repay it like a tax (like 10% of what you earn above 20k) and if you do low-paid work or work part-time after having kids you'll never actually repay it. Even if you didn't need the money, there is far less interest on a student loan than on a mortgage and you could use the loan for a deposit.

[charlottehattonx]

I've thought of that, but the loan will come through too late if I apply now so I don't really have the funds to move away now. I have thought about moving away but my parents said they will sell my car if I do because 'I won't need it', which is a bit disheartening. Also I'll be doing shift work and need my sleep in the day, and again it's too late to apply for decent accomodation that won't be a 24/7 party pad

[pshewitt1]

(Original post by jacketpotato)
I think you should apply for a student loan and try to move out. Living away from home is much more fun.

Not taking a student loan is daft, there is no jusitification. It is very low interest, you repay it like a tax (like 10% of what you earn above 20k) and if you do low-paid work or work part-time after having kids you'll never actually repay it. Even if you didn't need the money, there is far less interest on a student loan than on a mortgage and you could use the loan for a deposit.

you can't really call inflation interest can you :l? it's also 9% on 21k cancels after 30 years

[jacketpotato]

(Original post by pshewitt1)
you can't really call inflation interest can you :l? it's also 9% on 21k cancels after 30 years

At the moment its pegged to inflation. But the government is planning to charge higher interest to high-earners in the future. If this goes through, then people earning more than something like 40k might have to pay some interest. It will probably still be a much cheaper and safer source of finance than a mortgage though.