Financial viability of working during an interuption of studies? Watch

Anonymous #1
#1
Report Thread starter 4 weeks ago
#1
I am currently in the process of deciding whether to interupt my studies at uni for personal reasons. I've decided that in this time I should get some kind of job otherwise I fear that my mental health will decline - its known to get noticably worse when I don't have anything to do or structure in my life. I'm not asking for advice on anything but the work/money feasibility aspect - I know I've been intentionally vague about details.

Basically I've looked into getting a full time job relevant to my degree, but the most I could earn from this is 15-20k. I've found some work that I could feasibly apply to given the cirumstances. The issue is, take off living,council tax and rent costs and I'll have maybe 10k. Then because of the increase in household income, my maintenance loan will decrease for when I return to uni the year after. I've estimated I'll have to save around 6k to make up the shortfall, at a MINIMUM. Assume no support from parents. This means from a years work full time, I'll only earn a few thousand pounds.
Assume I take the interuption, I'm wondering what you guys think I should do? Do I work 40 h pw for 6/7k MAX - more likely to be less - or put the time towards travel and volunteering? Either way focussing on my mental health will be priority regardless.

Thanks for reading, any opinions would be greatly appreciated
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999tigger
Badges: 19
#2
Report 4 weeks ago
#2
(Original post by Anonymous)
I am currently in the process of deciding whether to interupt my studies at uni for personal reasons. I've decided that in this time I should get some kind of job otherwise I fear that my mental health will decline - its known to get noticably worse when I don't have anything to do or structure in my life. I'm not asking for advice on anything but the work/money feasibility aspect - I know I've been intentionally vague about details.

Basically I've looked into getting a full time job relevant to my degree, but the most I could earn from this is 15-20k. I've found some work that I could feasibly apply to given the cirumstances. The issue is, take off living,council tax and rent costs and I'll have maybe 10k. Then because of the increase in household income, my maintenance loan will decrease for when I return to uni the year after. I've estimated I'll have to save around 6k to make up the shortfall, at a MINIMUM. Assume no support from parents. This means from a years work full time, I'll only earn a few thousand pounds.
Assume I take the interuption, I'm wondering what you guys think I should do? Do I work 40 h pw for 6/7k MAX - more likely to be less - or put the time towards travel and volunteering? Either way focussing on my mental health will be priority regardless.

Thanks for reading, any opinions would be greatly appreciated
You need to talk to student finance about how it will work.
It must surely be a case of looking and understanding how the calculation works then doing that without it becoming a negative.
http://www.sfengland.slc.co.uk/inclu...plication.aspx
https://www.gov.uk/student-finance-calculator

Once you work out where the boundaries are and when it starts to work against you then you can decide how long to work or if at all?
No chance you can live at home?
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Anonymous #1
#3
Report Thread starter 4 weeks ago
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Could live at home but there isn't much work opportunity here. Thanks for the advice!
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