Hey there! Sign in to join this conversationNew here? Join for free
Turn on thread page Beta
    Offline

    1
    ReputationRep:
    (Original post by blissy)
    FOod, washing, cleaning etc included. Working full time. Sounds good to me.
    Well yeah I suppose it does if you look at the whole picture.
    Offline

    20
    ReputationRep:
    (Original post by blissy)
    Am I the only person who is practically cut-off financially after their 18th birthday?!
    I dunno. You even pay your fees? My parents pay that, as it's assessed on their income, so I guess it's fair. I'm very impressed that you can do everything just on your loan, but if I remember rightly your rent is only just over half what I pay, which makes things a lot easier! I don't get full loan either, but so far my parents have shown no sign of making up the extra bit that according to the SLC they're meant to be giving me.
    Offline

    1
    ReputationRep:
    (Original post by Helenia)
    I'm very impressed that you can do everything just on your loan, but if I remember rightly your rent is only just over half what I pay, which makes things a lot easier!

    Luckily we were allowed to opt for which price-bracket we were able to pay. As I said early, I bought a big bunch of flowers for the accommodation ladies here because they have been so good and had saved me from paying £300 extra a term next year by keeping me in mind and doing a lot of re-organisation. They got me the VERY room I wanted - right next door to the kitchen
    Offline

    20
    ReputationRep:
    (Original post by blissy)
    Luckily we were allowed to opt for which price-bracket we were able to pay. As I said early, I bought a big bunch of flowers for the accommodation ladies here because they have been so good and had saved me from paying £300 extra a term next year by keeping me in mind and doing a lot of re-organisation. They got me the VERY room I wanted - right next door to the kitchen
    Nice one! I was away in Switzerland when my accommodation preference form came, so my parents filled it in for me :rolleyes: and ticked the box that said I wasn't especially bothered about having a cheap room. So I ended up with one of the most expensive rooms in college :eek: but it is rather lovely and I will miss it next year. Will enjoy having the extra £100 a term though that I should hopefully save

    (Original post by blissy)
    I saved up £1500 but have only spent £50 of it so far (I'm unbelivably stingy - I pay all my accommodation and fees and everything out of my Student Loan)
    blissy,
    this isnt meant to sound funny i am just wondering - how come you pay fees when your family is all on benefit? or are they not anymore?

    rosie
    Offline

    1
    ReputationRep:
    (Original post by crana)
    blissy,
    this isnt meant to sound funny i am just wondering - how come you pay fees when your family is all on benefit? or are they not anymore?

    rosie

    My mum's a teacher and my dad has a full time job as well (for the past three years now). The LEA pay £60 towards my fees which I think is awful - we look fine on paper but have no savings or anything and my parents have an endowment mortgage. Partly it's because they don't think they should, partly because they can't afford to and partly because I think that this is the ONLY time in their lives that they have had some extra money to spend on themselves and I don't want to take that away from them.
    Offline

    1
    ReputationRep:
    (Original post by blissy)
    My mum's a teacher and my dad has a full time job as well (for the past three years now). The LEA pay £60 towards my fees which I think is awful - we look fine on paper but have no savings or anything and my parents have an endowment mortgage. Partly it's because they don't think they should, partly because they can't afford to and partly because I think that this is the ONLY time in their lives that they have had some extra money to spend on themselves and I don't want to take that away from them.
    Ah! A 'I wanna do it all on my own' type thingy person. No shame in that, I find that good.

    Anyway, ar you living in rented accomodation or inside Uni halls? I'm curious, as I would like to know how you are able to live on £35 per week.
    Offline

    1
    ReputationRep:
    I haven't included accommodation/fees but my accommodation is cheap and I can live in halls for the full three years of my course. wooo!
    Offline

    1
    ReputationRep:
    (Original post by blissy)
    I haven't included accommodation/fees but my accommodation is cheap and I can live in halls for the full three years of my course. wooo!
    Presumeably a large amount of the student loan has gone on the accomodation. With regards to the loan do you just get £3000 (don't know what the max is) for your entire course, or is it for each subsequent year?
    Offline

    14
    ReputationRep:
    I saved about £5000 out of my salary and the student loan I had left from the first time. I figured that would take me to early next year but although I dont have to pay my fees this year I dont get a loan so just with the accommodation and living expenses I am nearly spent out. Next year I will have to make the tough decision of whether to get a career development loan or whether to sell my car.
    Offline

    1
    ReputationRep:
    (Original post by Bhaal85)
    Presumeably a large amount of the student loan has gone on the accomodation. With regards to the loan do you just get £3000 (don't know what the max is) for your entire course, or is it for each subsequent year?
    £4000 a year for the full three years
    Offline

    1
    ReputationRep:
    (Original post by blissy)
    £4000 a year for the full three years
    £4000*3 = £12000

    That's great. So I don't have to worry about accommodation then. But what happens when you wanna pay it back, is it interest free?
    Offline

    20
    ReputationRep:
    (Original post by Bhaal85)
    £4000*3 = £12000

    That's great. So I don't have to worry about accommodation then. But what happens when you wanna pay it back, is it interest free?
    No, there is interest on it, but it's relatively low, and you don't have to pay anything back until you earn over a certain amount of money.

    I, meanwhile, get ~£3300 a year, for 6 years :eek: although I'm not sure about the funding for the final two years; think it might be slightly different.
    Offline

    1
    ReputationRep:
    (Original post by Helenia)
    No, there is interest on it, but it's relatively low, and you don't have to pay anything back until you earn over a certain amount of money.

    I, meanwhile, get ~£3300 a year, for 6 years :eek: although I'm not sure about the funding for the final two years; think it might be slightly different.
    Presumably a degree in medicine? Do you not get bursaries or anything?
    Offline

    1
    ReputationRep:
    (Original post by Bhaal85)
    £4000*3 = £12000

    That's great. So I don't have to worry about accommodation then. But what happens when you wanna pay it back, is it interest free?

    It has *real* interest, I think (so it goes up with the rate of inflation and you pay back what you borrowed in real terms). You don't have to pay it back until you earn a certain amount but I believe you have to fill forms in to postpone it and some people got confused and ended up paying back too early because they didn't read properly!

    £12000 is bad enough, I'm just glad I won't have to eat into my bank overdraft or any credit cards.

    Fees = £1000 a year
    Accommodation = £1000 a year
    Other stuff = £2000 a year
    Summer income = hoping to earn around £1000
    Offline

    14
    ReputationRep:
    http://www.slc.co.uk

    for student loan info.
    Offline

    14
    ReputationRep:
    (Original post by blissy)
    It has *real* interest, I think (so it goes up with the rate of inflation and you pay back what you borrowed in real terms). You don't have to pay it back until you earn a certain amount but I believe you have to fill forms in to postpone it and some people got confused and ended up paying back too early because they didn't read properly!

    £12000 is bad enough, I'm just glad I won't have to eat into my bank overdraft or any credit cards.

    Fees = £1000 a year
    Accommodation = £1000 a year
    Other stuff = £2000 a year
    Summer income = hoping to earn around £1000
    On the old system you had to fill out forms to postpone it. The new system that i'm on and you guys are on you pay it back through your wages it comes out every month. So they work out how much you earn and deduct accordingly you dont have to defer it or anything they know when to take it. And if you stop earning paying back stops automatically.

    You can choose to pay it back early but you dont have to let them know if you earn less than the limit they know that through your NI contributions.
    Offline

    20
    ReputationRep:
    (Original post by Bhaal85)
    Presumably a degree in medicine? Do you not get bursaries or anything?
    Yes, it is medicine. I think we get our fees paid in the final two years, and possibly some NHS bursary, but I'm really not sure about all that - I've got to pass the first 4 years before that! I think I will be using my overdraft, but hopefully not too much and not too soon.
    Offline

    0
    ReputationRep:
    how much in to total do u think u'd need for uni? I haven't saved much yet

    (Original post by blissy)
    My mum's a teacher and my dad has a full time job as well (for the past three years now). The LEA pay £60 towards my fees which I think is awful - we look fine on paper but have no savings or anything and my parents have an endowment mortgage. Partly it's because they don't think they should, partly because they can't afford to and partly because I think that this is the ONLY time in their lives that they have had some extra money to spend on themselves and I don't want to take that away from them.
    makes sense
    glad things looked up for them
 
 
 
Poll
“Yanny” or “Laurel”
Useful resources

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.