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    • dini
    • By dini 11th Oct 17, 10:59 AM
    • 177Posts
    • 291Thanks
    dini
    Student Finance Company PG course installments Rant
    • #1
    • 11th Oct 17, 10:59 AM
    Student Finance Company PG course installments Rant 11th Oct 17 at 10:59 AM
    I have just started a masters course, part time.(Self funded)

    I applied for, (and was granted) a post graduate loan. Haven't received any of it yet, but that's another story.
    My uni offers the option of paying in installments which is great. But the way the student finance co works, I will be left struggling for a couple of months.
    They plan on paying in 3 installments, which would be fine if it wasn't for the purpose of paying my tuition , I suppose.
    3rd Oct £1696
    28th Feb £1696
    30th May £1747
    Trouble is, installments are due monthly from Nov to April
    SoI have 4 lots of £578 and 2 of £544 due
    I will also, for Dec to feb, have to pay 2 lots of rent as I am moving jobs and its not commutable, but I can't get out of my current tenancy until it finishes end of feb.
    (Short term pain for long term pain I suppose)

    Anyway, why, for goodness sake, for a pg loan, have they decided this is the best way?
    A lot of people doing post graduate courses have other living commitments.
    Would it be so hard for them to organise the payments so they come at the start of the academic year?

    My first installment wont cover all the fees due, my second one will cover the remainder, but my last one comes after all the fees are paid for this year. So money for textbooks and any incidentals etc will have to be found elsewhere. So I'll have to work extra shifts, while working full time, and try to study at the same time.

    I will be fine for next years fees as Ill have my last installment though.
    Light Bulb Moment: Feb 2007
    Debt: £65560 ~~~~~~ Debt Free day 24th March 2016
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