Help with finance

clairewilliams

Hi,

I am returning to study this September to do Primary Education at a local University. I have previously done three years at another university but had to quit due to the course not being what I wanted it to be.
Because I will be in my fourth year of student loans, the Student Loans Company are not going to help me with my tuition fees, and therefore I have to pay it out of my own pocket - £3145. I haven't been out of education long enough to save up the money for this, and was assuming the SLC would be able to help, but apparently there is a 'cap on the amount of money people can be given'.
At the moment, the only option open to me is to take out a loan, which I won't be able to afford.
I have a job now, but it isn't paying enough to afford rent, living costs and my tuition fees, and come September, I will probably have to cut down on my work hours.
I don't feel comfortable going to my parents for this as they have a living to make as well.
Does anyone have any advice for me?

Thanks,

Claire

Oldernotwiser

Transfer the credits you've earned from your previous study to the OU and finish your degree with them, then do a primary PGCE which will be fully funded. Taking out a commercial loan for 3 years of full time study will cripple you and I don't recommend it.

clairewilliams

Unfortunately this wouldn't be possible. The reason I applied for the Primary Teaching degree was because the course wasn't what I expected, and didn't get on with it.
When it comes down to it, I'll be starting my new degree next month, I'm just trying to find some finance help so that I won't be living off cheap junk food for the next year or more.

bestpud

Have you checked if you can still apply for the maintenance loan? It's not a lot but every bit helps!

Also, they will often fund the final year if you have only had three years previously. Ask them if they will in your case, as there is four years finding available in case if mishaps.

Other than that, check out the OS board for money saving ideas - lots on there about surviving on a budget and it's not all cheap junk food, honest!

Oldernotwiser

clairewilliams wrote: »

Unfortunately this wouldn't be possible. The reason I applied for the Primary Teaching degree was because the course wasn't what I expected, and didn't get on with it.
When it comes down to it, I'll be starting my new degree next month, I'm just trying to find some finance help so that I won't be living off cheap junk food for the next year or more.

The OU will give you credits for the 2(?) years of study that you successfully completed, giving you 2 years of part time study to complete your degree, during which you can still work full time; you wouldn't need to carry on in the subject area that you were studying before.

I hope that you can go ahead with your course as planned but my advice would give you an alternative if this weren't possible. If you can find anybody (apart from family) who will lend you nearly £10,000 of course fees I'd be very surprised, and if you do then you'd have to be start repaying the debt at the same time as you're studying.

Good luck, but don't narrow your options; you've got less than 8 weeks to sort out a very difficult situation! Be prepared to be flexible!

clairewilliams

I'm not asking for all 3 years of course fees in one go; more just something to tide me over for this year so I can earn during next summer to get a bit of a head start. I have got my maintenance loan, which would cover me the money, I would just be left with about £50 for each term. The real killer is rent payments, this is where about 80% of my monthly earnings disappear to, hence the need for a bit of help.
Thanks for your suggestions, looks like I'm going to have to grit my teeth and try and find a decent paying part-time job.