Is it essential to get student loan? Watch

Anonymous #1
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Report Thread starter 1 week ago
#1
I have applied for student loan and just wondering if you really need it? I’m living at home and have a part time job. I do spend my money quite fast (mostly on food, clothes & nights out) and just wondering if it would be better if I got student loan as well?
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Anonymous #1
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I haven’t not I have ***
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lucyddf72
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Only you know your financial situation. Are you working part time as well during your degree?
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OR321
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Maybe just ask for the minimum amount they give, I think it’s £4000 something.
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Anonymous #1
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(Original post by lucyddf72)
Only you know your financial situation. Are you working part time as well during your degree?
Yes
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Helloworld_95
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You don't need to in that situation but you might as well. The interest rate on student loans is slightly lower than a reasonable risk investment account so you could put most of it in one of those, or put it in a help to buy ISA or something like that. You'll have to pay it back later but under the conditions of a normal student loan which is a lot easier than any other way alongside not impacting your ability to take out other credit, and those savings could help you put a deposit down on a house or for a similar large purchase after you graduate which could save you money in the long run or at least make your life easier.
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