This discussion is now closed.

Check out other Related discussions

Any point in applying for maintenance loan?

LiterallyInsane

If you are going to live at home?

Reply 1

hypocriticaljap

2

Of course!
You'll get at least £2763
See here
http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/Applyingforthefirsttime/DG_171542

Reply 2

LiterallyInsane

OP

hypocriticaljap

Of course!
You'll get at least £2763
See here
http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/Applyingforthefirsttime/DG_171542

Hmm .. but wouldnt the grant and bursary be enough :confused:

?

Reply 3

hypocriticaljap

2

A) How do you know you will get a grant?
B) You do know many unis only give you a bursary if you qualify for the maximum grant? (family income has to be below £25000)
C) If you really don't need it apply and invest it for 3 years! That's what all the money savvy advice would be.

Reply 4

LiterallyInsane

OP

hypocriticaljap

A) How do you know you will get a grant?
B) You do know many unis only give you a bursary if you qualify for the maximum grant? (family income has to be below £25000)
C) If you really don't need it apply and invest it for 3 years! That's what all the money savvy advice would be.

Hmm I suppose your right I just dont want to end up in too
much debt .. I mean how much are they going to charge in interest?

Reply 5

TheSownRose

16

I live at home, and would recommend applying for it anyway. Not living away from home doesn't mean you'll never need money for anything... :rolleyes:

Reply 6

hypocriticaljap

2

LiterallyInsane

Hmm I suppose your right I just dont want to end up in too
much debt .. I mean how much are they going to charge in interest?

Nobody knows other than it is RPI or 1% over base rate whichever is the lower, so next year will be about 1.5%, but historically it has always been less than you could get from investing it in an ISA.

Reply 7

LiterallyInsane

OP

TheSownRose

I live at home, and would recommend applying for it anyway. Not living away from home doesn't mean you'll never need money for anything... :rolleyes:

Lool hmm I suppose your right :biggrin:

Reply 8

jayshah31

14

LiterallyInsane

Hmm I suppose your right I just dont want to end up in too
much debt .. I mean how much are they going to charge in interest?

Depends on the March before each academic year. For 09/2010, it's defined as 0% APR as inflation (RPI) was negative last March. The rate for 2011 isn't out yet.

http://www.slc.co.uk/statistics/facts%20and%20%20figures/previous_interest_rates.html

Reply 9

hypocriticaljap

2

The rate is either RPI or 1% above base rate whichever is the lower. SO it will be around 1.5% next year because RPI will be higher than the base rate plus 1% figure. You can always better that in an ISA.

Reply 10

The Entity

3

It depends on how much maintenace grant you are getting, if your getting the full maintenance grant there is no point IMO,

3k is enough for a year if your not living out.

Reply 11

LiterallyInsane

OP

hypocriticaljap

The rate is either RPI or 1% above base rate whichever is the lower. SO it will be around 1.5% next year because RPI will be higher than the base rate plus 1% figure. You can always better that in an ISA.

Whats an ISA and how does it work ? :confused:

Reply 12

hypocriticaljap

2

go to any bank and ask. Its a savings vehicle on which you earn interest free of income tax.

Any point in applying for maintenance loan?

Related discussions

Latest

Trending

Trending

Articles for you