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University and Loans
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MoneySavingUser
Posts: 1,667 Forumite
Hi,
My cousin is going to uni next year
His household income is £12000
He has been offered tuition and maintenance fee loans and a maintenance grant
As he is eligible for the grant the univerisity will also give £1000
Is their any other help available for people on low incomes rather than taking out the loan?
thanks in advance
My cousin is going to uni next year
His household income is £12000
He has been offered tuition and maintenance fee loans and a maintenance grant
As he is eligible for the grant the univerisity will also give £1000
Is their any other help available for people on low incomes rather than taking out the loan?
thanks in advance
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Comments
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No, he will be expected to take out the loan, just like the rest of us!Gone ... or have I?0
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indeed.But I would also checkout the local council website there may be a few extra bits around. I get a small grant every year from a trust fund set up for people in further education who went to 3 local secondary schools. Not means tested either which is nice.0
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he might be able to get a scholarship?Sealed pot challenge #232. Gold stars from Sue-UU - :staradmin :staradmin £75.29 banked
50p saver #40 £20 banked
Virtual sealed pot #178 £80.250 -
Yeah things like this I thought - no they don't have anythingMankysteve wrote: »indeed.But I would also checkout the local council website there may be a few extra bits around. I get a small grant every year from a trust fund set up for people in further education who went to 3 local secondary schools. Not means tested either which is nice.
nopehe might be able to get a scholarship?0 -
What's wrong with taking out the loan? it's there and it's the cheapest loan he'll ever get. And if he wishes to apply for help with health costs whilst at uni, the loan will get taken into account, regardless of whether he takes it out or not.Sealed pot challenge #232. Gold stars from Sue-UU - :staradmin :staradmin £75.29 banked
50p saver #40 £20 banked
Virtual sealed pot #178 £80.250 -
He should just put it in a savings account, then at the end of his course he can pay it off, and have a bit of extra left over from the interest.
I can understand not wanting to tak eon debt, but if he gets into financial difficulties it'll be there in the account if he needs it.
The interest rates are very low, savings accounts will probably always beat them; and it doesn't go on credit reports, and it gets written off after 25 years.
It's not something to take lightly, but it isn't anything to be too afraid of.“I could see that, if not actually disgruntled, he was far from being gruntled.” - P.G. Wodehouse0 -
ok thanks everyone for your comments0
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