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do you have a university trustfund. I don't and feel like crap. Watch

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    (Original post by Bagration)
    Ok, but many people do complain about the debt from student loans, which is the point. At some point or another, everything in your life stops becoming free. I don't see why other people should have to accommodate some people's desire for that to be extended as long as possible, that's my primary point.
    Right, well I don't disagree with having to pay your student loan back.
    Relying on your parents to fund you through education is exactly the kind of thing you claim to oppose though right? :confused:
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    I do but it's nowhere near as much as £1500...
    I managed to save £200 from working haha
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    (Original post by Abhead)
    Right, well I don't disagree with having to pay your student loan back.
    Relying on your parents to fund you through education is exactly the kind of thing you claim to oppose though right? :confused:
    No. If your parents want to pay for it, that's fine. What I'm against is forcing people to pay for it. At 18 most people are adults. It's time to enter the real world, tbh.
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    (Original post by Bagration)
    No. If your parents want to pay for it, that's fine. What I'm against is forcing people to pay for it. At 18 most people are adults. It's time to enter the real world, tbh.
    Who is trying to force anyone to pay for anything?
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    did have one, but took out a loan instead and used the trust fund and put in an ISA for housing fund
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    (Original post by C++Hacker)
    Nope, I don't have one. Not because my parents/family didn't think of it, but just because financially it was not possible and still isn't. Therefore I just worked hard, did an internship at an investment bank in Abu Dhabi, tried to impress...and I prevailed. They have given me a £100,000 fund for my university education (in return I work for them for 7 years minimum after graduation...lol like as if that is repaying the debt, to me that's just another bonus I have a job and a career sorted now), so I'm glad I could get out of my poor financial predicament.
    Now I'm actually glad that I didn't have a trustfund, because then I wouldn't have worked so hard and got this huge funding, which is worth far more than most trustfunds.
    Sort me out an internship please :p:
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    (Original post by Abhead)
    Who is trying to force anyone to pay for anything?
    http://image.guardian.co.uk/sys-file...c.spending.pdf

    ACcording to this -- I don't know if you'll be able to see that -- "Department for Innovation, Universities & Skills £21.5bn"

    Taxation is forced wealth transfer, surely you understand this concept.
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    (Original post by Bagration)
    http://image.guardian.co.uk/sys-file...c.spending.pdf

    ACcording to this -- I don't know if you'll be able to see that -- "Department for Innovation, Universities & Skills £21.5bn"

    Taxation is forced wealth transfer, surely you understand this concept.
    Oh, you disagree with all grants?
    I'm not sure where I stand on grants, it seems a bit silly that some people have to pay the money back and some don't, because by the time you are paying it back nobody is dependent on their parents. I generally agree with fairly high taxation though, "forced wealth transfer" as you call it wouldn't be necessary if the wealth wasn't so unfairly distributed in the first place.
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    (Original post by Abhead)
    Oh, you disagree with all grants?
    I'm not sure where I stand on grants, it seems a bit silly that some people have to pay the money back and some don't, because by the time you are paying it back nobody is dependent on their parents. I generally agree with fairly high taxation though, "forced wealth transfer" as you call it wouldn't be necessary if the wealth wasn't so unfairly distributed in the first place.
    Well obviously, you are a libertarian socialist : p

    Although most libertarian socialists don't advocate any kind of state whatsoever, so, meh.

    The point I'm trying to make is that everything has to be paid for, in the end. Whether this should be paid for by other people, by force, and extend to university, or be paid for by your parents voluntarily, is an issue of contention (or not, apparently: looking at the consensus.)
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    (Original post by Bagration)
    Well obviously, you are a libertarian socialist : p

    Although most libertarian socialists don't advocate any kind of state whatsoever, so, meh.

    The point I'm trying to make is that everything has to be paid for, in the end. Whether this should be paid for by other people, by force, and extend to university, or be paid for by your parents voluntarily, is an issue of contention (or not, apparently: looking at the consensus.)
    In dreamland I'm all for a parecon style system with a fair distribution of power as well as wealth. In reality a slightly fairer distribution of resources is a start at least.
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    (Original post by jodie_lee)
    I don't have a trust fund exactly, no one in my family ever went to uni and I guess they didn't plan I would. My grandparents are, however, going to give me £5000 for accomodation/travel card each year, which will help a lot I get some grant as my mum is a single parent and I'm also having loans, and I have savings if I'm in dire need, which I'm hoping I won't need.
    Do you not get a grant of some sort for being drop dead gorgeous.
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    Such a poor line.

    Anyways, I'm working on a bit of a trade-off principle. If my parents contribute to my education, then I'll contribute to a nice retirement home for them. Kidding of course.
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    No I don't. I didn't expect one either as my mum's a single parent and financially is not in a position to give me anything. I'd feel guilty taking her money, actually..
    I work part time though and have saved up a bit of money, which i'm hoping to get a car with eventually.
    Luckily I will be getting loans/grants so i'm not worried about not having money at uni. I will also get a job whilst i'm there..so i should be fine.
    plus i'm doing a workplacement year which should help pay off some of the debt
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    I have no 'trust fund' as such, rather, money I've saved up from various.. ventures. Money that is 100% mine and which I'll use sensibly. I'd feel bad posting the figure here and chances are I'd just get neg repped or ranted at anyway, so I'm not going to. I would like to say though that I agree with the sentiment that we are adults now and should pay for ourselves mainly, I've been a burden long enough - I know this. I'll be thrifty for now and hopefully if I ever get to where I want to be in life and find myself a multi-millionaire I'll have no problem helping out family and friends financially.


    (Original post by C++Hacker)
    Nope, I don't have one. Not because my parents/family didn't think of it, but just because financially it was not possible and still isn't. Therefore I just worked hard, did an internship at an investment bank in Abu Dhabi, tried to impress...and I prevailed. They have given me a £100,000 fund for my university education (in return I work for them for 7 years minimum after graduation...lol like as if that is repaying the debt, to me that's just another bonus I have a job and a career sorted now), so I'm glad I could get out of my poor financial predicament.
    Now I'm actually glad that I didn't have a trustfund, because then I wouldn't have worked so hard and got this huge funding, which is worth far more than most trustfunds.
    Do you know all the details? £100k play money sounds nice in theory but you've got to question the motives of any bulge-bracket investment bank that would hire an undergrad with no exp or degree such as yourself - there's no such thing as a free lunch, right?
    I'm unsure as to how it works there, but here an analyst's week can be as much as 90-100 hours.. that's an awful lot. How are you and this IB so sure you'd be able to cope for so long? What division are you going into?
    Your grant averages out to around £14.3k per year over the 7 years.. they could still rip you off massively with your pay and more specifically, non-capped bonuses.

    (Original post by Jessaay!)
    Well that would be nice, but personally, my acommodation is £160 per week minimum, I'll be paying for some books + equipment etc, I'll be spending **** loads if I want any sort of social life in London, and then there is travel expenses and of course tuition fees. I've worked since year 11 at a job at McDonald's but that's hardly given me much money. And I'll be doing medicine so it's more contact hours and less chance of a job so with the current economic crisis I doubt I'd find anywhere willing to take me for only a few hours a week and I'd be living in a cardboard box on the streets of London getting shot at. So it's kind of good I have a trust fund, but mine didn't come from my parents so...

    I've still learnt financial responsibility though, my parents only give me money for essential things and I've got to pay for anything I want with my wages, which is a good lesson. But I don't think that in my situation relying on small hourly wages would be possible.
    Geez, I feel for you. £160+ p.w is madness, I sincerely hope for that money your accommodation is coming ensuite, fully catered and with a toilet made from 24 carat Brazilian gold, jewel encrusted and all. I can sympathise with you on the job issue, if I were you (i.e a prospective medic) I'd spend my time concentrating on the course during term time though (you need the grades and more than 12 hours work p.w isn't recommended at uni anyway - which doesn't add up to too much £extra). A holiday job might be a better idea? Check out the Natwest students account too, their overdraft/bonuses [i.e the railcard] might be worthwhile for you, and if I remember right they do extra loans for people studying law and medicine. Might be wrong on that one though.

    I just had a sneaky peak at the academia on your profile, looks like you worked pretty hard in the jump from GCSE to A Level (I know because I got similar grades haha). Impressive. How did you find the teaching at Holy Cross? I hear it's excellent - only know a handful of people that went there though. I went to BGS so naturally I've been inside HC a few times with friends there (as you do), it looked pretty chilled. Actually I think one time on founders day me and some friends went in in our CCF camoflauge gear (after the big parade)... yeah.. we had one of those 'deathly silence' moments where the entire canteen just shut up and stared, Good times :p: .

    (Original post by Abhead)
    My personal situation is that my mum is too ill to work, my dad was out of work for 3 months recently and about half of the money I earn myself working goes towards family stuff, the other half I either save for university or spend on myself. I've taken a year out to save up for uni. We don't live in poverty by any means, I paid for my brother to go on a residential school trip quite recently for example, but for various reasons we are in quite a lot of debt and there literally isn't any spare cash around at the moment. I went to asda with a big bag of coppers the other day to change in the machine and put towards groceries.

    I have brilliant parents, they have always done the best they can for me, but I have never had a savings account set up for me, and even if I had it would have been spent on something more urgent by now.
    Probably worth very little but +ve repped you, think people are misunderstanding a lot of what you're putting across (and hence from this day forth I may even have to call people on here that aren't coming across to others clearly... an abhead). Copyright 2009 TM.
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    (Original post by Altruistic1)

    Geez, I feel for you. £160+ p.w is madness, I sincerely hope for that money your accommodation is coming ensuite, fully catered and with a toilet made from 24 carat Brazilian gold, jewel encrusted and all. I can sympathise with you on the job issue, if I were you (i.e a prospective medic) I'd spend my time concentrating on the course during term time though (you need the grades and more than 12 hours work p.w isn't recommended at uni anyway - which doesn't add up to too much £extra). A holiday job might be a better idea? Check out the Natwest students account too, their overdraft/bonuses [i.e the railcard] might be worthwhile for you, and if I remember right they do extra loans for people studying law and medicine. Might be wrong on that one though.

    I just had a sneaky peak at the academia on your profile, looks like you worked pretty hard in the jump from GCSE to A Level (I know because I got similar grades haha). Impressive. How did you find the teaching at Holy Cross? I hear it's excellent - only know a handful of people that went there though. I went to BGS so naturally I've been inside HC a few times with friends there (as you do), it looked pretty chilled. Actually I think one time on founders day me and some friends went in in our CCF camoflauge gear (after the big parade)... yeah.. we had one of those 'deathly silence' moments where the entire canteen just shut up and stared, Good times :p: .
    It's more than likely that my acommodation will be a cupboard sized box with white walls and a wonky shelf and a shared bathroom, but on the bright side, the halls I chose had a music room and a TV room. Of course, that accounts for the extra £100 per week :p:

    Yeah I'm not really planning to get much of a job because with a job, the course, work outside the course and a social life I don't think I'd have much time for sleeping or eating, which I've heard are an essential but inconvenient part of life. I think the only way I'd get one is if there are some within the uni.

    I liked holy cross :yes: the only problem with it was that I come from an area on the furthest side of rochdale so travelling to bury took about an hour and a half at least each morning on the bus. I went to a pretty rubbish school but then I also decided that it was time to work harder if I wanted to actually get anywhere in life so with that and the teaching they gave at holy cross I managed to pull my grades up a lot. I suppose GCSEs were a bit of a learning curve, seems like it was for you as well, just to show that hard work counts for a lot more than it seems. It always made me laugh when people from BGS came in in their suits trying not to be seen by that pathetically bad guard who lounged around near the doors of the canteen, I can't imagine how much more you'd stand out in the CCF gear :p:
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    (Original post by Quady)
    Its only in real terms if salary increases are at that rate.
    No it isn't. If interest was less than inflation, the government would still be receiving less money in real terms back than it lent out. That's what I mean when I say it's interest free. It has nothing to do with your circumstances.

    The 4.8% figure was for 07/08. Wages were not increasing at that pace then, nor are they increasing at 1.5% now.
    As the repayments are tied to income, if your income increased more slowly then you would be paying a smaller proportion of your income than otherwise.

    Its true 115/month for me isn't unaffordable, but its a lot less affordable than the grant my parents got.
    So what? If it's affordable, it isn't relevant that it was even more affordable for someone else.
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    I don't expect my parents thought any of their children would go to university.
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    (Original post by favh)
    As the repayments are tied to income, if your income increased more slowly then you would be paying a smaller proportion of your income than otherwise.
    No you wouldn't you'd be paying a greater proportion if the threshold level is maintained...

    Someone on 15,001 pays less as a proportion than someone on 30,000.

    That's maths.
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    (Original post by Quady)
    No you wouldn't you'd be paying a greater proportion if the threshold level is maintained...

    Someone on 15,001 pays less as a proportion than someone on 30,000.

    That's maths.
    You've said two things that contradict each other. I know that someone who is earning more will pay a greater proportion of their income. That's precisely why you are paying a smaller proportion if you receive a smaller pay rise than you would be if you received a larger pay rise.
 
 
 
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