They will never ask it back off you in a lump sum. If you fail you just need to pay it back out of your salary just like those that passed. Either way if you're just putting it into an account that doesnt matter, it's there if you require it.(Original post by Sarahlay)
I have received 3500 in maintenance grants and 5000 on maintenance loan. I was just worried incase I actually failed my degree and have all of this money in the bank that I will have to essentially return, because if I fail the grants are repayable leaving me with no money. I am going to speak to a student finance advisor to see what they suggest. Thanks for the advice
Also student finance can't find out if you don't spend it. I don't think so anyway, as far as i'm aware they don't do credit checks so won't know how much money id in your bank account.
Saved all of my grants and loan... Watch
- 28-04-2016 13:02
- Thread Starter
- 28-04-2016 17:26
Thank you you've all been so helpful 😊
- Thread Starter
(Original post by JC.)
- 28-04-2016 17:29
I mean buy something and sell it for a profit.
Could be anything. I bought a box of vintage 50's clockwork trains at an auction a couple of years back for 50 quid. Felt like I might have overpaid at the time...
Must have turned that into £600.
Similarly, I bought a chesterfield wing back chair for our study... decided I didn't like the colour and sold it... made £100 on that.
Bought a garden trailer because I didn't want to put junk in my Daimler, did what I needed to do with it and sold it for £150 more than I bought it for...
There's money in anything so long as you buy wise.
With regard to a loan, get it EVERY year. You'll never even pay it back unless you earn over a certain amount. Plus it doesn't count against you when you walk into a bank to get, for example, a mortgage.
3 years loan saved up would be a cracking deposit on a house, for example?
(Original post by Sarahlay)
- 28-04-2016 20:41
That was actually my plan to save up all my loans and put a deposit down on a house when I leave uni, must have been thinking along the right lines there then haha. And I could look into that but I'm not too good with knowing what value things hold, oh well thanks for the advice though 😊
Try it with something relitive;y inexpensive. I had a go with dinky toys and petrol garden strimmers for a while?