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    My loan just about covers my accomodation with a touch left over which will probably be blown on textbooks, gym memberships, society memberships etc which means dipping into savings for the rest, so I'm hoping to keep costs down to under £40 a week. I'm bound to be useless at budgeting to start with though! :rolleyes:
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    I get every meal including lunch and weekends at uni and I'll have £24 spare a week. Will this be enough?
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    (Original post by pessimist)
    Wow. I'm doing my A-Levels at the moment and thought it would be interesting to look in here, but wow I'm surprised at how little students have to live off a week. £40 a week?! But, at the same time it seems quite fun because you have to budget...anyway good luck everyone!


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    Budgeting is fun?! You odd person, you :P I'm terrified at the thought of having to live off £40 (or whatever, depends which accommodation I get). I eat so much food, I'm going to be so hungry haha!
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    I'll have about £250 without a part time job but my accomodation will be around £100-125pw

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    (Original post by snowdropinsummer)
    Hi guys, can I get your take on this. I am starting Uni in Scotland in September this year. No fees. My parents are divorced, however my father is making a contribution towards my university education. He is proposing to pay me £800 per month for each month of my university term, and £200 for each month of the summer holiday. However, given I will be living at home and have to pay my mother board and lodgings I just don't feel this is enough. My father has said if it is not enough and my mother is not prepared to make a contribution that I have to either get a part time job or get a student loan. I don't want to get a student loan and be in debt... and I don't see why I should have to get a part time job either, I feel my father should be paying me more. Any thoughts would be appreciated.
    Are you serious or are you trolling because it seems like the latter? If you're not trolling and are just oblivious to reality, then be reassured you have plenty (unless your mum asks for extortionate amounts of money, but I doubt it?). That's a lot, considering you're going to be a student. You're getting more than some people will who will actually be moving out (which is going to be more expensive than living at home, most likely).
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    (Original post by AndyBoughton)
    Why is everyone so worried? Get your parents to pay!

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    That would be the easy way but at this point students should aim to gradually become independent and not have to depend on their parents forever.
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    (Original post by ainiis)
    That would be the easy way but at this point students should aim to gradually become independent and not have to depend on their parents forever. University is the start of a new period in our lifes, a period when we must learn how to become adults and deal with money by ourselves
    Yeah but my parents would rather pay than me end up in 80k worth of debt so you will all be paying it off when i won't

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    (Original post by AndyBoughton)
    Yeah but my parents would rather pay than me end up in 80k worth of debt so you will all be paying it off when i won't

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    Anyway, the repayment system is made so that we don't even notice we are paying it back... It is true that we'll spend many many years repaying loans, but they'll only take 9% of everything we earn over 21,000 pounds a year. It's more like an extra tax, not a loan.
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    Some parents can't afford it though! We're not all fortunate enough to be able to rely on parents
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    Can anyone tell me about the societies? Do you have to pay a fee when you join at the beginning or also during the year?
    How much do they usually cost? Thanks
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    (Original post by AndyBoughton)
    Yeah but my parents would rather pay than me end up in 80k worth of debt so you will all be paying it off when i won't

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    yeah because all of us have parents that have a spare 80k for us.. it takes three years for my family to earn 80k, never mind giving 80k to their children!
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    (Original post by ainiis)
    Can anyone tell me about the societies? Do you have to pay a fee when you join at the beginning or also during the year?
    How much do they usually cost? Thanks
    It depends - usually you have to pay a joining fee, and then you may also have to pay a bit for activities. If you look on the SU website for your uni (eg www.bathstudent.com ) you should be able to get an idea.
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    (Original post by AndyBoughton)
    Yeah but my parents would rather pay than me end up in 80k worth of debt so you will all be paying it off when i won't

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    It makes no financial sense to pay your tuition fees up front, due to the way you pay them back. The only way it would make sense to pay it up is either:

    Loaded Parents
    Guarenteed Big Paying Job

    Apart from that, it would be madness not to take the tuition fee loan.
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    (Original post by ainiis)
    That would be the easy way but at this point students should aim to gradually become independent and not have to depend on their parents forever. University is the start of a new period in our lives, a period when we must learn how to become adults and deal with money by ourselves
    Right, the guy is obviously trolling, but to say that somehow paying for university with the state's money rather than with your parents' makes you more of an adult doesn't make any sense at all.
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    (Original post by TimmonaPortella)
    Right, the guy is obviously trolling, but to say that somehow paying for university with the state's money rather than with your parents' makes you more of an adult doesn't make any sense at all.
    By taking out a loan you recognise that in order to receive higher education you are required to pay your debt to society, and are taking control of your own financial responsibility.

    By receiving a gift from mummy and daddy you remain a dependent child.

    Aside from that you'd have to be a colossal moron to waste £27000 in one go. A student loan is the best value loan you will ever receive, and the majority of graduates never pay the total of their loan back before it is written off.
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    (Original post by dakyras)
    By taking out a loan you recognise that in order to receive higher education you are required to pay your debt to society, and are taking control of your own financial responsibility.

    By receiving a gift from mummy and daddy you remain a dependent child.

    Aside from that you'd have to be a colossal moron to waste £27000 in one go. A student loan is the best value loan you will ever receive, and the majority of graduates never pay the total of their loan back before it is written off.
    Tuition fees aside, your argument implies that everyone can take out a loan. I would have loved to be able to take out a full maintenance loan, and the amount of the grant as a loan, but I can't. That is why those arguments about it being better to get it from the state than from your parents are frustrating.

    When you look at it from my angle, why should I have to get a job purely because the state won't lend me as much to live off as it will lend to others?
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    (Original post by RibenaRockstar)
    Tuition fees aside, your argument implies that everyone can take out a loan. I would have loved to be able to take out a full maintenance loan, and the amount of the grant as a loan, but I can't. That is why those arguments about it being better to get it from the state than from your parents are frustrating.

    When you look at it from my angle, why should I have to get a job purely because the state won't lend me as much to live off as it will lend to others?
    I'm talking about parents paying the tuition fees upfront. Everyone is entitled to a tuition fee loan.

    I had 2 part-time jobs during my undergraduate degree; my parents contributed nothing. If your parents are rich enough to make you ineligible for a huge maintenance loan (like mine), then it's up to them to help you out. I preferred financial independence.

    Anyway, my main point was, if you are entitled to a loan you should take it. If you aren't, then get a job or ask your parents.

    further edit for context: I was responding to a long thread about a guy whose parents were paying his fees directly to the university, which is financially stupid.
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    Right you guys might not be able to afford it but for people that can why is it a bad effort.

    Im fortunate in the fact my dad earns a lot of money and has been saving for a while.

    If it means I can come out of the university in no debt and carry on like this keeping the whole of my salary (minus income tax and national insurance) why is that a bad thing?

    Are you telling me that if you were in the same situation as me, you would not do the same thing?

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    (Original post by AndyBoughton)
    Right you guys might not be able to afford it but for people that can why is it a bad effort.

    Im fortunate in the fact my dad earns a lot of money and has been saving for a while.

    If it means I can come out of the university in no debt and carry on like this keeping the whole of my salary (minus income tax and national insurance) why is that a bad thing?

    Are you telling me that if you were in the same situation as me, you would not do the same thing?

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    No. Because of how much you are paying back, and there is a strong possibility that you will not actually pay it all back in the long run. Don't get me wrong, if your Dad has saved up his money and he wants to pay for your tuition, then that his prerogative. I think he could better use his money for you, ie. a large deposit for a house when you are earning after your degree.

    I must also stress, that I am in a position to pay for my tuition fees in full for my degree, however, I'm not doing because I don't see the point, due to the reasons I have put above.
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    I got £50 a week from my parents, which I was very grateful for as it meant I didn't have to get a part time job - this was three years ago mind, food seemed so much cheaper then.

    All my loan went straight to accommodation.
 
 
 
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