Tips on how you can graduate debt-free (not spam).

Ferris

BullyCornedBeef wrote:

Did you live at homw while at Uni?

no, i lived in halls for the first and third years and typical mancunian coronation street-type house in my second (the less said about that year, the better).

i had a credit card but never used it, made full use of the interest free part of my overdraft (and only the interest free part) and worked just enough hours over the summer etc to get myself back into the black without affecting my studies.

oh, and i didn't get a student loan.

also, i don't drink, which is probably the key :P

jiffk

surely even if your not going to spend it youd take the student loan?

the rate is about 3.2% or something like that

even if you just keep it in a reasonable savings account your still making money on it!!??!

Skyhigh

DrFluffy wrote:

Surely it is quite simple:

Get a job, not a loan
Don't spend more than you bring in.

I would like to see you fit in a job that earns you enough to support your housing fee's and tuition fee's when you have 26 hours of lectures a week.

Oh and then theres the coursework, projects, reading, research, documentation.....
So thats the evenings gone - pretty much.

And you're really screwed if you want to join a society/club, nevermind be on the committee for one.

Then maybe try and squeeze in some social life, if possible.

Sure it may be easy to do if you study "Film Studies" at 4 hours a week, but its almost impossible for most of us.


I can highly recommend ebay, since you can make it fit around your schedule and there are no 'real' committments.
You just have to find a market on ebay thats not cornered and stake your own claim.

:!:

Skyhigh

jiffk wrote:

surely even if your not going to spend it youd take the student loan?

the rate is about 3.2% or something like that

even if you just keep it in a reasonable savings account your still making money on it!!??!

Correct

A student loan is probably the 'cheapest' that you can readily get with the least hoops to jump through - and possibly one of the easiest to pay back.

You can always use the cash for a car, rent....anything.

Or even a high intrest account


We'll all need to take out a loan at some point, if you are in a position where you can pay your way - or your parents can, then great!
But theres no harm in having £10k ready for you to use when you graduate, as long as you are responsible with your finances.

:!:

DrFluffy

Skyhigh wrote:

I would like to see you fit in a job that earns you enough to support your housing fee's and tuition fee's when you have 26 hours of lectures a week.

Oh and then theres the coursework, projects, reading, research, documentation.....
So thats the evenings gone - pretty much.

And you're really screwed if you want to join a society/club, nevermind be on the committee for one.

Then maybe try and squeeze in some social life, if possible.
:!:

I did it. Graduated with a high 2i (despite a result of well above 70%!) in genetics - so lots of exams, lab reports and essays to write (not to mention getting the year prize for my dissertation), and no debt. I worked [paid] on average 20-26 hours a week. That was on top of about 12-16 hours a week of lectures and 16 hours a week of labs.

We're not all rich enough to expect mummy and daddy to pay, and I was bought up to believe that if you couldn't afford it, you didn't have it. So I worked my !!!!!! off - academically and in my job - to ensure I could do it. Certainly teaches you about work ethics and the value of a good education.

Now stop your bleating.

BigBouncyBall

DrFluffy wrote:

We're not all rich enough to expect mummy and daddy to pay, and I was bought up to believe that if you couldn't afford it, you didn't have it. So I worked my !!!!!! off - academically and in my job - to ensure I could do it. Certainly teaches you about work ethics and the value of a good education.

Now stop your bleating.

Now who's bleating?

Why is the phrase "mummy and daddy" inserted when talking about parents paying for education? It really annoys me when people use it. If parents can afford to pay for their child why shouldn't they? I'm not going to be made to feel embaressed or ashamed because my parents pay for me. Do those who not work not know the value of a good education just because they haven't paid for it?

Can we all stop this "i have to work all hours god sends, therefore i'm getting more out of life" attitiude and just realise that in other countries it is an honour for your family to pay for you at uni, not an embaressment to hidden away.

heymylastnameislewis

lol so ur mum wiped ur bum this morning did she? university is about standing on your own 2 feet and learning who u really are as well as getting a degree. class ur self as independented and see how long u last! lol

letsgobilliejoe

DrFluffy wrote:

Surely it is quite simple:

Get a job, not a loan
Don't spend more than you bring in.

Voila - you will graduate debt free. It worked for me the first time round...

well considering that I personally have to take out a £3k a year loan for fees, my accomm costs £80 a week, food £20ish, and travel £25, i'd have no time to study if I didn't take out a loan to live. I'll graduate with about £24k of debt. TBH it doesn't bother me too much. Bothers me more than if Blair hadn't introduced top-up fees, but ah well.

letsgobilliejoe

DrFluffy wrote:

I have a bit of a track history for collecting degrees

This time, I'm going all out for the debt!

i've just thought, are you fluffy off TSR??!!

DrFluffy

letsgobilliejoe wrote:

well considering that I personally have to take out a £3k a year loan for fees, my accomm costs £80 a week, food £20ish, and travel £25, i'd have no time to study if I didn't take out a loan to live. I'll graduate with about £24k of debt. TBH it doesn't bother me too much. Bothers me more than if Blair hadn't introduced top-up fees, but ah well.

I'm not as worried about debt this time round, so am taking out loans etc. I work over the summer to cover my fees (but am lucky, as my previous study and qualifications mean I can get a salary that allows me to do this). Last year [first year] I worked in an office job 10-15 hours a week on top of study (bought in £100-150 a week), but this year I haven't taken a paid job as such (although I am working on a project that will see a return soon), so it has been harder. I think i'll probably graduate with about £40k of debt this time round, but hopefully it won't be too torturous to pay off. If medical recruitment is totally !!!!ed and I can't get a job when I graduate, then I'll make sure I do not earn over £15k a year!

letsgobilliejoe wrote:

i've just thought, are you fluffy off TSR??!!

Erm, yes