low cost borrowing for low incomes??

raspberry_ripple

Thanks for the great advice people. You have raised a few ideas and issues which I hadnt considered and will look into.
Thanks again.

Paulgonnabedebtfree

ninky wrote: »

well it's not cockney rhyming slang for an abusive term from a disabled person. raspberry ripple / cripple.......

I have heard of "raspberry ripple" before but had heard it used to refer to "nipple" rather than "cripple".
Maybe I've been hanging about with the wrong people

ninky_2

Paulgonnabedebtfree wrote: »

I have heard of "raspberry ripple" before but had heard it used to refer to "nipple" rather than "cripple".
Maybe I've been hanging about with the wrong people

http://www.cockneyrhymingslang.co.uk/slang/raspberry_ripple

redpete

raspberry_ripple wrote:

I want to be able to help them keep any personal university debts to a minimum but I suppose i am not sure how to do it. My peers who went on to university seem burdened with debt although admittedly this is due to irresponsiblity in most cases. <snip>

As suggested I could contribute to repaying their own student loans, and for them to raise their own funds they could have a work year. Thanks for the input.

The government student loans are about as low interest and easy repayment conditions that anyone can get. Your kids would not be paying them back until they earn a significant amount and the interest rates are linked directly to inflation. As they come from a low-income household they may well be eligible for grants (i.e. not loans).

Whilst it's great that you're planning to help them, don't treat all debt as bad debt and don't feel you have to protect them from all financial responsibility.

KimYeovil

I'm sorry, but, as RedPete says, why can't your children do what all other children do - live on the loans and grants all students receive? Why are they different and why do they need thousands of pounds extra? You won't find loans cheaper than those your children will qualify for as students.

Keep your savings for when your children may need them - after they have qualified and completed their education.

Bethankim

Hiya,

as your on a low income made up of benefits, your children should be entitled to a grant and bursary plus have their fees paid.

my friends daughter is just starting her second year and because she was very careful last year she even managed to save a little bit

if you have a look at this link it will give you an idea of what help may be available. The bursary wont cover everything and they will end up taking student loans too, but they wont kick in until the earn a certain amount. they could get jobs etc to give them a cushion and avoid having to take the loans.

http://www.direct.gov.uk/en/EducationAndLearning/UniversityAndHigherEducation/StudentFinance/Applyingforthefirsttime/DG_171524