Student MoneySaving: Funding, Borrowing & Living as a student Article Discussion Area

Oldernotwiser

thornhill wrote: »

Should we pay upfront or take out the tuition fee loan and invest the equivalent amount of money in an account in her name for her to access after finishing uni?

It will be your daughter who takes out the loan and decides what to do with it, although it's a good idea to do this if the money isn't needed.

PLEASE_HELP_-_NEED_ADVICE

im going to study medicine undergraduate abroad, can i get financing anywhere? if so where and how? please im in desperate need of help. its between singapore and india. Is there any company that will finance this?

dmg24

PLEASE_HELP_-_NEED_ADVICE wrote: »

im going to study medicine undergraduate abroad, can i get financing anywhere? if so where and how? please im in desperate need of help. its between singapore and india. Is there any company that will finance this?

Is there a reason why you cannot study in the UK? Is the course connected with a UK university?

torchie

I have just started to complete the online details to support an application starting in September but am puzzled that (if I am reading it correctly), my support is based on my income in the 2008/2009 tax year ending 5th April 2009. Since that time I have been made redundant and have no income but because of my income in 2008/2009. my son will receive no additional help because the income figure was over the threshold. How can this be fair? Surely it should be based on more recent income figures?
Can anyone advise me please?

MrsManda

torchie wrote: »

I have just started to complete the online details to support an application starting in September but am puzzled that (if I am reading it correctly), my support is based on my income in the 2008/2009 tax year ending 5th April 2009. Since that time I have been made redundant and have no income but because of my income in 2008/2009. my son will receive no additional help because the income figure was over the threshold. How can this be fair? Surely it should be based on more recent income figures?
Can anyone advise me please?

You can fill in a current income assessment form to be assessed on current figures if your income has fallen by over 15%. You can download the form from HERE

janirovado

Hi Mike

I am a 21 year old student living away from home for 7months now with my partner. Both of us are working and attending university. Paying all Bills ourselves. There is no campus at the place I do my course which is for special needs teaching in children. My work also relates to this. However our income is less than 25000 but when I approached the Council here in Cumbria about Student grants I was told I could not apply as I had to take into account my parents income. My father lives abroad and my mom works from home. Do I have to take both my fathers income and my moms into account. My 18 year old sibling still lives at home but has no income and my parents support another younger child. Also I have heard rumours about there being grants available for people who are studying along the lines I have chosen. please advise.

Lokolo

janirovado wrote: »

Hi Mike

I am a 21 year old student living away from home for 7months now with my partner. Both of us are working and attending university. Paying all Bills ourselves. There is no campus at the place I do my course which is for special needs teaching in children. My work also relates to this. However our income is less than 25000 but when I approached the Council here in Cumbria about Student grants I was told I could not apply as I had to take into account my parents income. My father lives abroad and my mom works from home. Do I have to take both my fathers income and my moms into account. My 18 year old sibling still lives at home but has no income and my parents support another younger child. Also I have heard rumours about there being grants available for people who are studying along the lines I have chosen. please advise.

Unless you can prove you are independent, so supporting yourself for 3 years before start of the course (which I assume isn't true), then your parents household income - whoever you would class as your 'main' residence when growing up. I would in this case, assume your mothers.

When you apply for student finance you can get extra support if you give them finance information of your mother in your case.

starryataris

Hello all,

I will be starting a Graduate Entry Medicine degree in September and have applied for a maintenance loan from the SLC. I am hoping (fingers crossed) that I will be given Independent Student Status as I have previously funded myself for three years which will allow me to obtain the maximum loan with a proportion of the amount allocated as a grant. However, I have to find £1,300 fees this year and I am currently in a fair bit of debt:
- 3 credit cards - TOTAL DEBT £7,250
- Bank Account Overdraft: £1,750 (just been turned back into a student account so not being charged interest)
- Graduate loan: £680 (three repayments left - which I think I will save for)

I fully intend on getting a part-time job whilst studying although I have been told that the course is very intensive and I will not have much free time. I have been researching grants and bursaries that various charities offer, however the vast majority require you to be in at least your second year of medical study.

I have been researching Career Development Loans and have spoken to NatWest which have said I am eligible to apply, but will only offer £3,000 towards paying off previous debt on top of living expenses and tuition fees.

Basically I have read a lot of information and mostly know what is available to me, I just don't know what the best option is? I currently have a full-time job (£32k p.a.) and will be working right up until the week before I start university. I don't know whether to try and save as much of my wage as possible to supplement my living at university, whilst making the minimum repayments on my credit cards, calculated at approximately £190 per month, having balanced transferred them to interest free cards? Or should I try and pay off as much of my debts as possible now and then reduce my monthly debt repayment to as minimum as possible but have no other money available to me other than the Loan/grant I receive from the SLC to live off? Should I take out a CDL to clear my debts and then worry about the repayments after I have graduated and am earning?

Who should I talk to that knows a lot about the situation I am in and can offer unbiased advice?

Thank you for reading - sorry it is so long...
Starry

Indie_Kid

Starry - you may get a better answer on the debt free wannabe board.

leese2504

Hi All,

I have never done a HE degree before and find the finance application a bit of a nightmare lol

I am sure this has been asked before but dont have long to fill in the forms. Here goes:

Child income part of the form: Do I fill in my tax credits award in this section?

Total Household income: Is this my income ( I work part-time nothing to do with my degree tho ), my hubby's income, child benefit and tax credits?

Thanks in advance :T