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

    5
    So I'm new to the whole Uni scene and found out that a) Maintaince Grant is scrapped. Now there's only Maintaince Loan plus obviously the Student Loan! And the loans have Interest so it gets bigger and bigger as you're studying and even after you've stopped! You have to start repaying when earning over £21,000... Which happens much much later for a lot of people and almost immediately for some people. So on an Undergraduate Course which is 3 years, you've got £9,250 per year plus another £6,250 for maintainance and this for 3 YEARS is cray-cray!!! It's a, "You can run but you can't hide... and boy will we chase you" situation!

    I can understand why a lot of people are unable to go to University...

    Any ideas on how to cope?
    • Very Important Poster
    • PS Reviewer
    • Clearing and Applications Advisor
    Offline

    21
    ReputationRep:
    (Original post by princessmile)
    So I'm new to the whole Uni scene and found out that a) Maintaince Grant is scrapped. Now there's only Maintaince Loan plus obviously the Student Loan! And the loans have Interest so it gets bigger and bigger as you're studying and even after you've stopped! You have to start repaying when earning over £21,000... Which happens much much later for a lot of people and almost immediately for some people. So on an Undergraduate Course which is 3 years, you've got £9,250 per year plus another £6,250 for maintainance and this for 3 YEARS is cray-cray!!! It's a, "You can run but you can't hide... and boy will we chase you" situation!

    I can understand why a lot of people are unable to go to University...

    Any ideas on how to cope?
    Have a read of
    http://www.moneysavingexpert.com/stu...t-student-loan

    and

    http://www.moneysavingexpert.com/stu...n-fees-changes

    In reality unless you're likely to earn a very high income then it's unlikely you'll repay your loan in full - so it doesn't really make any difference if the interest rates are tiny or huge.
 
 
 
  • 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?
    Useful resources

    Groups associated with this forum:

    View associated groups
  • 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.