Going to uni with pre-existing debt?

I am concerned about how I am going to pay for things like car insurance whilst at university. I pay £66 a month at the moment, but a student loan will not cover that. Also, I pay about £200/month for a preexisting loan which I have no clue how I am going to continue paying if I go to uni, whilst also adding the £66 on top for my car! It's really stressing me out. I could get a 10/hr a week job on top of my studies but wouldn't want to work longer than that incase it messed up my studying!

Any suggestions / help would really be useful.

Reply 1

Katiehodge

It looks like you'd either have to find a more manageable loan, or figure out which things you can live without and use that money to pay for the loans you need to pay. So long as you don't pay massive amounts for food/ accommodation, you should be able to balance everything with just a student loan for income.

Reply 2

SilverstarDJ

Perhaps take a year or two out a work full time to pay off your debts and loans and also save money for your car insurance if you cannot manage living from student loans plus work. Or consider not declaring your car off the road or selling your car (I live in a big city I can occasionally take the bus and walk/cycle into uni every day so I don't need a car whilst I am at uni) to reduce your monthly payments and budget your money tightly.

Reply 3

CUFCDan

You don't want to go to Uni with so much stress. But, if it helps, I work 10 hours and worked 16 last year and I'm on a solid first, so it's possible with less social lie :P

Reply 4

Origami Bullets

Very few people take a car to uni (and IME those that do often don't really use theirs). Sell your car, cancel the insurance and use the money to (a) buy a bike (usually the quickest way to get from A to B in a city) and (b) pay off your debts. The only ones that really use their cars are healthcare students on placement.

Beyond that, sit down and work out a proper budget.