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Relative offering to pay for my Uni fees.

This all just happened recently so I could really use some objective viewpoints, my grandfather has offered to pay for my Uni fees, he's very well off so he can afford it, I don't know what to do since it's a really generous offer, I want to take it ( I mean come on, no debt after Uni ) but before I go any further I'd like some objective comments.

(edited 4 years ago)

Reply 1

Megxn0

That’s really generous of him, he clearly cares a lot about your future

Reply 2

JustOneMoreThing

Original post by Megxn0

That’s really generous of him, he clearly cares a lot about your future

Yeh it's an amazing thing to do, I don't know how to go about it, we're talking almost £30,000 here, not a fiver for some wings and a Pepsi.

Reply 3

GalGirl101

Not the first time I've heard this tbh. If he's offering and you know he's got the funds (aka he won't be taking on any loans or making himself broke in the process) then I would take it tbh

Reply 4

username4606994

I mean the way I see it is that the debt isn't really that detrimental and most likely as long as you manage your money after getting a job that pays over the threshold and you choose a place with suitable rent then I don't see why you would have trouble living. Though it might be that your household income is high and so maybe you can't get the loan to cover the tuition fee completely? I might be wrong and i'm dealing with tiredness atm so I apologize if I've made a mistake.

Reply 5

lb2604

Student loans are better value for money, you’d be better off just having your loan because you only pay 9% of everything greater than £25000 that you earn. So if you don’t end up earning very much you’ll only be paying the interest and not the loan, and it goes after 30 years

Reply 6

londonmyst

That's amazingly kind of him, if you accept it will be so helpful to you as a young graduate.
I'm assuming he hasn't added any extra conditions.
I was offered that kind of deal by my toxic maternal grandmother, turned her lawyers down automatically.
I have around £60k student debt, almost £20k credit card debt and work three jobs. :biggrin: