should i take a maintenance loan?

hey,

i wanted to ask if there was a point in me taking out a maintenance loan, for uni i'll be living at home and any extra costs such as food, travel and clothes etc my parents are willing to pay and i'll also be working part-time to cover some costs too.

ik some people take the loan and keep it in their savings for interest and stuff, but is there much point in me doing that?

Reply 1

PQ

Clearing and Applications Advisor

21

Yes

If you’re taking out a tuition fee loan then the only difference to repayments taking out a maintenance loan will make is that you’ll be repaying for a bit longer (or if you’re like most graduates who don’t repay their loans before they’re written off then it won’t actually affect how long you repay at all!)

Having a few thousand pounds is savings to help you move out and get established in your career as a young graduate will benefit you far more than repaying the loan for an extra few years when you’re in your 40s will cost you.

The benefits far outweigh the costs.

Original post by mia.gmia

hey,

i wanted to ask if there was a point in me taking out a maintenance loan, for uni i'll be living at home and any extra costs such as food, travel and clothes etc my parents are willing to pay and i'll also be working part-time to cover some costs too.

ik some people take the loan and keep it in their savings for interest and stuff, but is there much point in me doing that?

Hi there, that isn't something we can advise on as this is solely your decision.
Thanks, Karen

should i take a maintenance loan?

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