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Author {Uni day} Loans/overdraft
daymoon
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Registered: 1st Aug 08
Location: Selby, North Yorkshire
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   29th Sep 10 at 14:56   View Garage View User's Profile U2U Member Reply With Quote
[pointless rant]
Is it me that doesn't understand why students get these?

One of the people on m FB just put a status as " Take my card away from me or i will spend my loan too quickly". It pissed me off big time. I realise that some people genuinly need extra money as their parents can't help them at all. But most of people i know get massive loans, grants, and extra money from parents, buy all kind of shit that they dont need etc and then say they don't have money?

Whos idea was it to give that kind of money to 18-19 year old who can't manage their money?

I don't know whether i have such an opinion because i never had any loans/used my overdraft, but it seems like very few people know true value of money.

[/pointless rant]
Brett
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Registered: 16th Dec 02
Location: Manchester
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29th Sep 10 at 14:58   View Garage View User's Profile U2U Member Reply With Quote
The loans do have to be paid back tho...
scoob
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Registered: 16th Oct 03
Location: Beverley, E Riding of Yorkshire
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29th Sep 10 at 14:59   View Garage View User's Profile U2U Member Reply With Quote
your high horse is waiting
IvIarkgraham
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Registered: 27th Mar 04
Location: Ellesmere Port, Cheshire
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29th Sep 10 at 15:01   View Garage View User's Profile U2U Member Reply With Quote
my brother got in major debt whilst at uni

he's all paid off now. dont see the problem
Brett
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Registered: 16th Dec 02
Location: Manchester
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29th Sep 10 at 15:02   View Garage View User's Profile U2U Member Reply With Quote
Yeah, I know people who partied there's away and are moaning all the time about repayments now and they're approaching 30 lol Bit of a noose after you leave uni imo.
daymoon
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Registered: 1st Aug 08
Location: Selby, North Yorkshire
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29th Sep 10 at 15:03   View Garage View User's Profile U2U Member Reply With Quote
The problem i see is that if studens were more careful with their money, they could be debt free/very little debt when they graduate, start saving for house deposit and not moan that they cant buy a house?
Brett
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Registered: 16th Dec 02
Location: Manchester
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29th Sep 10 at 15:05   View Garage View User's Profile U2U Member Reply With Quote
These are the choices people are free to make tho. If you'd wanted to have gone that route then you could've.
Chris x
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Registered: 11th Sep 08
Location: Bexhill
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29th Sep 10 at 15:06   View User's Profile U2U Member Reply With Quote
At least they pay it back tho. Rather than some benefit scum!
RichR
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Registered: 17th Oct 01
Location: Waterhouses, Staffordshire
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29th Sep 10 at 15:08   View Garage View User's Profile U2U Member Reply With Quote
I had £12k of student loans over 4 years; came out of uni with £6k+in my bank as I worked right the way through - That £6k went a long way towards the deposit for my house. I'm now paying back my student loan. The only people who piss me off are the ones who moan about having to pay it back - you borrowed it, you pay it back - Simples!!
dan_m1les
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Registered: 8th May 06
Location: Burnham, Buckinghamshire
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29th Sep 10 at 15:10   View User's Profile U2U Member Reply With Quote
A friend of mine has just finished 4 years at uni without touching his student load, so he just gave it back as he worked through uni etc and paid his way.

Everyone else I know at uni just spends it on getting drunk and clothes etc.
ed
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Registered: 10th Sep 03
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29th Sep 10 at 15:13   View User's Profile U2U Member Reply With Quote
How else are you going to cover your living expenses, materials costs and everything else?
Hammer
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Registered: 11th Feb 04
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29th Sep 10 at 15:13   View User's Profile U2U Member Reply With Quote
I have to admit, other folks personal finance genuinely does not bother me in the slightest. If they have a student loan and decide to have a bonfire in their front garden of £1 notes because it makes them feel good then good on them.
James
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Registered: 1st Jun 02
Location: Surrey
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29th Sep 10 at 16:12   View User's Profile U2U Member Reply With Quote
Where do you propose money for living comes from?

Not everyone's parents can afford to dish out money. When I was at uni, my loan was £4k a year. How easy do you think it is to live on £4k a year? That's why students never have money.

If you spend your loan on shit and have no money to live on, that's your own problem.
ashleh
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Registered: 23rd Dec 08
Location: Nottingham
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29th Sep 10 at 16:19   View User's Profile U2U Member Reply With Quote
Moved into student digs a month ago, not yet having received my loan. I literally can't wait for the 4th of October .
antnee
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Registered: 30th Dec 07
Location: Cov Drives: Clio 197
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29th Sep 10 at 16:20   View User's Profile U2U Member Reply With Quote
As Ed and James have said, where do you expect money to come from?

I moved to Coventry this year, my accommodation is 95quid a week for 43 weeks, which is over 4k, luckily my parents are paying that. I have just over £4200 to live on, socialise and buy any course related things. I will soon be looking for work so I can afford to keep my car.

So 3 years of 4k accom plus 4k living plus 3k of fees, is 11k, to earn that amount while at uni would mean working the majority of hours you aren't in uni/studying.


FUCK, just realised that is probably gonna mean I will be in about 20k of debt when I leave (depending on any summer work I can find)
Ben G
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Registered: 12th Jan 07
Location: Essex
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29th Sep 10 at 16:20   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by ed
How else are you going to cover your living expenses, materials costs and everything else?




but when they moan to you about paying it back, it gets annoying.

a mate at work done a uni course and failed it, is 27 now and still paying back his student loan for which he achieved nothing and is always moaning about it.

you failed it, you can't blame anyone but yourself so why moan about paying back the money you took?
Andrew
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Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
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29th Sep 10 at 16:20   View User's Profile U2U Member Reply With Quote
A good few ex students on here have replied - i need to say no more.
LeeM
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Registered: 26th Sep 05
Location: Liverpool
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29th Sep 10 at 16:21   View User's Profile U2U Member Reply With Quote
ill be using my loans when i start my degree so i can cut my working hours and have more time to actually do coursework
Ben G
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Registered: 12th Jan 07
Location: Essex
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29th Sep 10 at 16:22   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by antnee

So 3 years of 4k accom plus 4k living plus 3k of fees, is 11k, to earn that amount while at uni would mean working the majority of hours you aren't in uni/studying.


FUCK, just realised that is probably gonna mean I will be in about 20k of debt when I leave (depending on any summer work I can find)


maths isn't your strong point i see?

3x4 = £12k.
4+3 = £7.

£19000.

but is 4k living per year? how could you survive on 4k over 3 years?
John
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Registered: 30th Jun 03
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29th Sep 10 at 16:31   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by ed
How else are you going to cover your living expenses, materials costs and everything else?


A job.
LeeM
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Registered: 26th Sep 05
Location: Liverpool
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29th Sep 10 at 16:33   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by John
quote:
Originally posted by ed
How else are you going to cover your living expenses, materials costs and everything else?


A job.


its hard enough to earn enough to live on your own at 18, let alone when you can only work part time.
noshua
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Registered: 19th Nov 08
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29th Sep 10 at 16:37   View User's Profile U2U Member Reply With Quote
If you move into student accommodation there's no possible way any job will cover the cost of accommodation plus what ed mentioned.
Twiggy
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Registered: 15th Oct 04
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29th Sep 10 at 16:48   View User's Profile U2U Member Reply With Quote
I thought most put it in an isa and get interest on it??
Shell
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Registered: 14th Oct 08
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29th Sep 10 at 17:00   View Garage View User's Profile U2U Member Reply With Quote
I get £6,500 BURSARY a year.
ed
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Registered: 10th Sep 03
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29th Sep 10 at 17:02   View User's Profile U2U Member Reply With Quote
quote:
Originally posted by John
quote:
Originally posted by ed
How else are you going to cover your living expenses, materials costs and everything else?


A job.


Job covers social, student loan covers rent....................................................................................

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