starting uni - any tips and advice please

Aspiring

aurora_14 wrote: »

Do I take the maintenance loan as well? Or shall I not bother?

I was hesitant about getting both loans. I've worked it out now (thanks to the advice I was kindly given here) that I would be a complete idiot not to take advantage of such great terms and rates

I shall be accepting everything on offer. What I don't need will go into a high interest savings account because I shall earn more on it than I will be charged for the priviledge of having it

ETA - another thing you may want to think about, you work PT now and are managing, but, as you have yet to know the demands of the course you are on, you may need to reduce your hours or, (I hope not), but due to the economic climate, you may even lose your job. Either way, having the maintenance loan on top of the grant would give you a security blanket.

lrr_2

can you claim benefits during the summer on a 4 year uni course as a single parent also what happens with council tax durring the summer?

Char_pdc

lrr wrote: »

can you claim benefits during the summer on a 4 year uni course as a single parent also what happens with council tax durring the summer?

My council tax exemption was valid over the summer while I was still a continuing student with my course. It ran from 2005-2008 and even tho I wan't at uni during the summers during those years, I was still classed as a student and had exemption.

I think it really depends on the council policy tho, because I have read tales on here from other students saying different things

surfsister

yes you won't have to pay council tax if you live without any other adults (non-students) just get the form from your local council.

also if you are a single parent with low income you will get an extra amount for the children, but his will be based on income for the tax year just ending.

fees for the coming years are actually £3225 (daughter has had hers done for sep 09 already) and will go up each year by £100 or so.

You can apply for finance online & it is much quicker. There is a form somewhereyou can input income and get a quote how much you will receive.

Don't worry just go for it you will meet great people and have fun!

Don't get books new unless have to for being uptodate unis have a board or website where students sell them.

I suggest a trip to the uni you are going to and look for boards nearer the time. Also a BIG TIP on nduction day get there very early so you are not stuck in a massive queue

Which uni? It probably has a site you can look on and undergraduates will be chatting about the courses etc. Worth a try.

Good luck we're all here for you!

robpw2

aurora_14 wrote: »

Forgot to mention - I will be keeping a spending diary. I keep two for our household anyway (1-standard bills and taxes, 2-other expenditures) - just because it helped to get some stability. Being in debt is not very good and we are about 6 months away from not being in the "red" anymore.:j But I am thinking, I really need the student loan to pay the fees (just over £3000 per academic year - that'll be £9000 for the 3 years :eek::eek::eek:) however, I am considering if I could manage without the maintenance loan - so to repay less in the end. What do you think? I am entitled to some sort of a bursary from my uni - circa £1200. The maintenance loan I think will only add a load more to the final debt. Don't know...

do apply for the maintenence grant , you will get c£2800 you wont have to pay back

olly300

gunsandbanjos wrote: »

I think you'll be surprised how many women will be on your course;) I'm doing a maths degree and its about a 50/50 split, we're in the engineering building for lots of our courses and i see loads of women. One of my friends is doing mech eng and loving it!

Maths is always a 50/50 split.

Chemistry and computer science seem to have about 1/3 of the course being women but the engineering courses at both unis I studied at had generally each had the number of women you can count on each hand.

However a lot of women I've met who have done engineering have done really well on the course with quite a few of them getting Firsts.

squirrelchops

As oldernnotwiser pointed out the student loan is not comparable to a 'normal' loan. Aspirirng too has applied for everything going.

Yes, after 3 years you will have what approx £20k debt if you get a tuition loan ad spend your maintenance loan...however, this will only be paid back when you owe over £15k. Plus the student debt isn't 'held' against you if you needed to get a mortgage or the like. it is like it's own entity!Also as it is paid directly by the employer I think if it has gone out my wages before I even get it then it isn't such a hardship of thinking right I've got X but now have to pay X out of it for the student loan! All psychological fo course.

Anyway, I dont see the point in struggling even more when there is money available whilst you study.

Regarding council tax you are exempt. Regardign toher benefits I don't hink you are allowed to claim in your summer holidays. Isn't that what studnets used to do in the 80s.....sign on when not in Uni until the governenment stopped it!!!!!

surfsister

do bear in mnd that the interest starts accumulating the day you get the money so don't take out any loans you can't pay back one day!! My mate has just left uni and the interest had added up already before he starts a job. I know if you don't earn ober £15k you don't start to pay it back but the interest is accumulating I know it may only be 2% now and you may get higher interest in the building society but once you've spent it that's it.

You will owe £3225 £3335 £3445 for fees assuming it goes up a £100 a year that's £10k before you start and more by then with interest.

Then around £5800 loan x 3 = £17,400

so £27,400 roughly quite a lot to owe. But most people are borrowing it.

Don't want to spoil the party but the debt will keep accumulating for 25years (depending how old you are).

I know my daughter will end up owing about £27,00 and no way be able to afford a rabbit hutch to live in!

Oldernotwiser

surfsister wrote: »

I know my daughter will end up owing about £27,00 and no way be able to afford a rabbit hutch to live in!

But the amount you owe on a student loan bears no relation to being able to get a mortgage or to being able to pay it! It also doesn't matter that it keeps accumulating because all that really matters is that you can afford to make any necessary payments.

I'm sorry to repeat myself, but the best way to look at the student loan is a graduate tax which you may have to pay for 25 years if you earn enough. Thinking about it as a debt hanging over your head really isn't very helpful if you either don't have to pay it at all or only have to pay it in manageable amounts.

surfsister

Oldernotwiser wrote: »

But the amount you owe on a student loan bears no relation to being able to get a mortgage or to being able to pay it! It also doesn't matter that it keeps accumulating because all that really matters is that you can afford to make any necessary payments.

I'm sorry to repeat myself, but the best way to look at the student loan is a graduate tax which you may have to pay for 25 years if you earn enough. Thinking about it as a debt hanging over your head really isn't very helpful if you either don't have to pay it at all or only have to pay it in manageable amounts.

Yes I know! also daughter nor bothered as going to do a follow on degree when she finishes!!

I just don't want people to forget the interest does accrue as a coupla friends were pointing out who left uni 2 years ago and can't believe how HUGE their accrued student loans have become and their overdafts!!

Of course best thing is to bung you head in the sand as we all do!