Should i apply for a maintenance loan even though i dont need it

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study beats
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#1
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#1
i feel like having more money in bank account will feel nicer?
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Gerry-Atricks
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#2
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What about crippling debt, will that feel good?
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study beats
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#3
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(Original post by glad-he-ate-her)
What about crippling debt, will that feel good?
but i wont have to pay back until i am earning a specific amount?

also i have to pay back for a maximum of 30 years

so i really dont see why not? i will have extra money ....
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username1333513
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(Original post by study beats)
but i wont have to pay back until i am earning a specific amount?

also i have to pay back for a maximum of 30 years

so i really dont see why not? i will have extra money ....
paying back for a smaller amount of years > paying back for 30 years
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study beats
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(Original post by bubblegumcat)
paying back for a smaller amount of years > paying back for 30 years
hmm interesting point

but then i could argue that the amount i have to pay back every month is so little, its only like 9% of what i will be earning?
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username1333513
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(Original post by study beats)
hmm interesting point

but then i could argue that the amount i have to pay back every month is so little, its only like 9% of what i will be earning?
hmmm,
idk its up to you i guess, but just the idea of not having to be in so much debt sounds better ngl
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Bang Outta Order
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why the **** would you do that and take from people who need it, further messing up the already messed up system of uni affordability?
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study beats
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(Original post by 0to100)
why the **** would you do that and take from people who need it, further messing up the already messed up system of uni affordability?
i dont understand how it affects everyone else?
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username3118454
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#9
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you know if you dont need it you could yknow... not use it and then pay it back.

obviously like 4% interest on top but not really a lot
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Anonymous #1
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You will probably never pay the whole amount back anyway so borrowing more or less makes little difference. If you take it and don't spend it you will be able to pay it off anyway and you may even make a small (read minute) amount of money due to interest.
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Bang Outta Order
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#11
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(Original post by study beats)
i dont understand how it affects everyone else?
you're taking money that could potentially go to someone else who actually does need it, the budget for student maintenance isn't money that grows off trees. If you want "extra money" then ask mummy and daddy for it, or work for it. Don't apply basically fraudulently.
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username3118454
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#12
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(Original post by glad-he-ate-her)
What about crippling debt, will that feel good?
exaggerate much?
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username3118454
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#13
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(Original post by 0to100)
you're taking money that could potentially go to someone else who actually does need it, the budget for student maintenance isn't money that grows off trees. If you want "extra money" then ask mummy and daddy for it, or work for it. Don't apply basically fraudulently.
dont worry they have enough money - they assess how much you will get depending on your household income, and whether you live on campus or at home.
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Bang Outta Order
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(Original post by angelike1)
dont worry they have enough money - they assess how much you will get depending on your household income, and whether you live on campus or at home.
Yes. I know that. But the money comes from a budget. Like benefits. If you apply fraudulently, you are messing up the legitimacy of someone who really does need it. And how much money they can get. It's the principle really. Why apply when you don't need it? That's just selfish.
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study beats
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(Original post by 0to100)
Yes. I know that. But the money comes from a budget. Like benefits. If you apply fraudulently, you are messing up the legitimacy of someone who really does need it. And how much money they can get. It's the principle really. Why apply when you don't need it? That's just selfish.
i might use the money in the future? its not like i am gonna let it sit there....
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username3118454
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#16
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(Original post by 0to100)
Yes. I know that. But the money comes from a budget. Like benefits. If you apply fraudulently, you are messing up the legitimacy of someone who really does need it. And how much money they can get. It's the principle really. Why apply when you don't need it? That's just selfish.
Yeah fair point.
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Bang Outta Order
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(Original post by angelike1)
Yeah fair point.
(Original post by study beats)
i might use the money in the future? its not like i am gonna let it sit there....
At the end of the day it's claiming that you need assistance fraudulently.
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Kravence
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#18
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Take it, then invest it or use it for a deposit or something.
It's one of the best type of loans you can get, might as well take advantage
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Dinasaurus
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#19
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Depends on how likely you believe the debt will be sold off and have it changed, otherwise you should take it. I saw something on moneysupermarket basically saying, if you could pay off your entire student loan in full, you'd be better off not paying it because chances are it will be written off before you can fully pay it off anyway but once again this is dependant on whether or not it is actually sold off.
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username3118454
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#20
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(Original post by Dinasaurus)
Depends on how likely you believe the debt will be sold off and have it changed, otherwise you should take it. I saw something on moneysupermarket basically saying, if you could pay off your entire student loan in full, you'd be better off not paying it because chances are it will be written off before you can fully pay it off anyway but once again this is dependant on whether or not it is actually sold off.
I think the worth of money is relative to how much you earn (if you do at all).

So it's still worth it even if you pay it off.
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