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    Will have about 13-15k savings by start of Uni.

    Family home in London but will love out in a room at a maximum of £130 a week. Will have a part time job that pays a solid £500 a month after tax. In essence my job will pay my rent. I'll go home for food many days in the week .. it won't account for much in terms of cost. Transport similarly tbh. Transport, food and all the other expenses underneath rent won't need to be hugely accounted for tbh.

    I'll also get 3,354 maintenance grant + a 2k bursary from my Uni ... meaning 5.3k

    Take a maintenance loan or not? Any benefit?
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    Are you going to uni in London?
    Personally I wouldn't see the point of the maintenance loan, you'd seem to have more than enough without it and would save in terms of interest as you won't be paying as much back after wards. In all honesty it sounds like you'll be better off than most people who take out the loan anyway.


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    (Original post by mcdermie)
    Are you going to uni in London?
    Personally I wouldn't see the point of the maintenance loan, you'd seem to have more than enough without it and would save in terms of interest as you won't be paying as much back after wards. In all honesty it sounds like you'll be better off than most people who take out the loan anyway.


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    Yes I will be. I don't see much point either but then another part of me thinks I should take it whilst it's there, but I probably won't as I can't really think of any benefits. It's not as if the interest gained would be more than the interest I accrue so ye.
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    The extra money may come in handy once you graduate (travelling/doing nothing until you find a graduate job/living etc). I say take the loan since there is no harm in being in a 0% interest debt. You may feel financially stable now, but the future may be different.

    Perhaps invest it in a savings account.
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    (Original post by Pink Boy)
    The extra money may come in handy once you graduate (travelling/doing nothing until you find a graduate job/living etc). I say take the loan since there is no harm in being in a 0% interest debt. You may feel financially stable now, but the future may be different.

    Perhaps invest it in a savings account.
    This. Take the loan, put it in a savings account. Then, if you need it it's there. If you don't, withdraw it when you leave, pay it back and pocket the interest.
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    (Original post by pratstercs)
    This. Take the loan, put it in a savings account. Then, if you need it it's there. If you don't, withdraw it when you leave, pay it back and pocket the interest.
    But realistically how much interest can I gain from that? I've got 11k in an ISA atm and that only rakes in £20 a month interest.

    Infact how does the interest accrued on the student loan actually work in simple terms? Can anyone explain this to me? It might help me to decide better whether or not to take the loan.
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    (Original post by bored.i.am)
    But realistically how much interest can I gain from that? I've got 11k in an ISA atm and that only rakes in £20 a month interest.

    Infact how does the interest accrued on the student loan actually work in simple terms? Can anyone explain this to me? It might help me to decide better whether or not to take the loan.
    I'm really not the best person to ask on that, sorry.
 
 
 
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