Hey there! Sign in to join this conversationNew here? Join for free
    • Thread Starter
    Offline

    0
    ReputationRep:
    Hi I'm a mature student and have been accepted for a degree with foundation year and will need to take the full maintenance loan amount as well as tution fees. It means I would be owe by the end of uni around £65,000. Is anyone else put off by this? I really want to start my degree but the level of debt students are left with after uni is staggering. How is everyone else viewing this please?!
    Offline

    3
    ReputationRep:
    I personally don't care.
    Offline

    20
    ReputationRep:
    You need to remember that student loan debt differs from commercial debt in several important ways. It essentially is interest free (it's index linked), and is the cheapest borrowing you'll ever come across. The repayments are linked to your earnings, you don't pay anything if you don't earn a reasonable amount and any outstanding loan is written off after a certain time. Repayment history doesn't affect your credit file.

    It's a necessary evil. If you want the degree, then it's the only way of doing it if you don't have the cash to pay for it outright. There's not much point fretting on about it, unless you think the degree you're proposing to do isn't actually worth that money, or you won't recoup it if that aspect is important to you.
    • Thread Starter
    Offline

    0
    ReputationRep:
    Thanks reality check just the opinion I needed confirming I think!! Debt ridden it is 😂
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    What newspaper do you read/prefer?
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • 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

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