18 year old needs a loan

Some_Student

Hi all

Most people think, 'why does an 18 year old NEED a loan?'

Well, im currently studying A-level music amongst other things at 6th form full time, meaning its difficult for me to get a job that fits around my spare time.

The problem is I'm planning on going to university to study violin performance and composition, but, my current violin is rubbish, a quote from my teacher: 'if you went to an audition with that thing they would laugh', I agree with the statement, it is a £150 beggining student instrument which has been fine this far but at this level its not suitable.

So enough with the babbling, I need a new violin and a bow for university which for both would roughly come to £650-900 ASAP

My only source of income is my EMA which is £30/week term time only.
My mum doesn't have the money to pay for it, and she cant apply for a loan herself as she is in debt problems at the moment.
There is a 'takeitaway' instumental scheme operated by the gvmt which will give me an interest free loan of upto £2000 but you have to be in full time work and pass a credit check which my mum can't. YOu also have to buy the instrument from only a selection of retailers of which the violin shop I plan to purchase the violin from is not listed, only shops like Dawsons which are over priced and only sell new semi-machine made violins.

What do I do?
Without the violin I can't get into ANY music school, my current violin just doesnt cut it.

Thanks very much
Lewis

davetrousers

When I was 18 (32 now), I had a Saturday Job at Boots and earned £130 a month.

I was a full time student too. A-Levels then University.

epsilondraconis

I have to say that I really don't think you're going to get a loan. Unfortunately the current financial climate wouldn't see an 18 year old student with no job and no credit rating as a good risk.

In these circumstances that best thing to do is approach your bank to see if they would offer you anything.

Also, if you are going to apply for any loans, ensure you are on the electoral role and read the following:

http://www.moneysavingexpert.com/loans/credit-rating-credit-score

If you do get the money for your violin, please please please ensure you get it insured. Don't rely on your household insurance covering it. If the household insurance will cover it, ensure it is a listed item.

Good luck.

Clive_Woody

Some_Student wrote: »

Hi all

Most people think, 'why does an 18 year old NEED a loan?'

Well, im currently studying A-level music amongst other things at 6th form full time, meaning its difficult for me to get a job that fits around my spare time.

The problem is I'm planning on going to university to study violin performance and composition, but, my current violin is rubbish, a quote from my teacher: 'if you went to an audition with that thing they would laugh', I agree with the statement, it is a £150 beggining student instrument which has been fine this far but at this level its not suitable.

So enough with the babbling, I need a new violin and a bow for university which for both would roughly come to £650-900 ASAP

My only source of income is my EMA which is £30/week term time only.
My mum doesn't have the money to pay for it, and she cant apply for a loan herself as she is in debt problems at the moment.
There is a 'takeitaway' instumental scheme operated by the gvmt which will give me an interest free loan of upto £2000 but you have to be in full time work and pass a credit check which my mum can't. YOu also have to buy the instrument from only a selection of retailers of which the violin shop I plan to purchase the violin from is not listed, only shops like Dawsons which are over priced and only sell new semi-machine made violins.

What do I do?
Without the violin I can't get into ANY music school, my current violin just doesnt cut it.

Thanks very much
Lewis

As others have said, the likelyhood of you getting a loan is pretty much zero. You have no credit history, no means of paying back the loan anytime soon and in the current financial climate banks are relucatant to hand over money.

Your best bet is to get a part time (evening/weekend) job and start saving. If you can cash in your old violin this will add towards paying for the new one. When I was doing my A-levels I worked two evenings a week and Saturdays at a local supermarket, plus over holidays I covered for people who took time off so I was effectively working full time summer, Christmas and Easter.

Other ideas to consider. Can you get a second hand violin? Can you hire violins as a short term option? Could you borrow a violin for the auditions? Have you considered street performing, I have no idea how much can be made this way, but at least you would be getting some practice at the same time.

StuTheDon

Some_Student wrote: »

Hi all

Most people think, 'why does an 18 year old NEED a loan?'

Well, im currently studying A-level music amongst other things at 6th form full time, meaning its difficult for me to get a job that fits around my spare time.

The problem is I'm planning on going to university to study violin performance and composition, but, my current violin is rubbish, a quote from my teacher: 'if you went to an audition with that thing they would laugh', I agree with the statement, it is a £150 beggining student instrument which has been fine this far but at this level its not suitable.

So enough with the babbling, I need a new violin and a bow for university which for both would roughly come to £650-900 ASAP

My only source of income is my EMA which is £30/week term time only.
My mum doesn't have the money to pay for it, and she cant apply for a loan herself as she is in debt problems at the moment.
There is a 'takeitaway' instumental scheme operated by the gvmt which will give me an interest free loan of upto £2000 but you have to be in full time work and pass a credit check which my mum can't. YOu also have to buy the instrument from only a selection of retailers of which the violin shop I plan to purchase the violin from is not listed, only shops like Dawsons which are over priced and only sell new semi-machine made violins.

What do I do?
Without the violin I can't get into ANY music school, my current violin just doesnt cut it.

Thanks very much
Lewis

Could you use a student loan? I am not sure when you could apply but if you have an unconditional offer for a Uni class you might be able to get a student account with loan at a bank. I would say that the violin is needed for your studies - just like books etc.

Dave101t

most people find a job to earn money. if i cant afford something, guess what? i dont buy it!
no one said it was going to be easy.

ILW

Bar work 2 or 3 evenings per week should not be too dificult to fit in. Should have the money i 2 or 3 months

makeup

Have you looked into any grants or scholarships? There are a lot of smaller charities out there who are willing to help young people in their studies / musical endeavours.

I would suggest you start looking around and seeing if there anything like that available.

I also agree with the others about getting a job. Depending on the restuarant, you can make a decent amout in waiting on tables.

If you are in a busy town / city and manage to get into a restaurant with good turnover (ie 2 or more sittings per evening) then you should make reasonable money with tips.

Dinah93

Like others have said, get an evening or weekend job. Summer holidays are coming up, thats around 2 months with time to fill - fill it with work!!! Even go busking if that's your thing.

I did 5 A-levels in the not so distant past, I worked 30 hours a week in my 'part-time' job during term time, and raised this to 55 hours a week in the holidays. By the time I went to Uni I had a lovely 2 year old car, a nice savings pot, and 4 A's and a C, get a bar job or a supermarket job and feel a sense of achievement when you walk into the shop to buy your violin knowing how you worked for it, don't take on debt.

Incidentally, how do you propose repaying a loan were anyone to offer one when you only have £30 a month EMA payment?!

KimYeovil

You did not become a decent violinist at age 17 or 18. Your potential must have been know about for a long time. Your mother and yourself have had years and years to save up for a decent instrument.

bendix

Go on the Dragons Den. I'm sure they will help you.

No, I tell you what. I'll lend you £1000 at 10% per month interest. I'll keep the violin as collateral.

Deal?