Student Loans 2012

setmefree2

Lokolo wrote: »

Weekly. First few weeks, it's likely to be £60.... but as the term progresses it gets harder to go out because of work. I don't think I went out once in the last 4 weeks of term! Eeek.

£60 a week? Just on drink at home? (see now I'm thinking you've got a drink problem lol) Or is that in pubs/clubs?

setmefree2

Ha Ha - she followed up with this

Well a dress is normally like 60-100, tops 20-30 a pop, makeup an eyeshadow is like £10 etc.
i could cut down obviously but that wouldn't be living comfortably for me!

LOL:D


This one's funny too

I'm planning on £30 a week tops. £10 for food and £20 for everything else....

and the other extreme - this one's very MSE

Could even live for free after accomodation. Not exactly the best plan but with soup kitchens, charities, food parcels etc its not impossible.

As is this

Tap water - £0.00 (Sort-of)
Asda brand noodles - £0.07 per packet
Haircut £3 (Might sound awfully cheap but if you find the right place they do an awesome job)
Meat from polish food market - £5 (1 week's worth)
£5 per month phone bill

Going out / booze = Optional :'D

http://www.thestudentroom.co.uk/showthread.php?t=1008717&page=4

Lokolo

setmefree2 wrote: »

£60 a week? Just on drink at home? (see now I'm thinking you've got a drink problem lol) Or is that in pubs/clubs?

Thats estimating going out twice a week, which he will do for the first couple of weeks, then he'll get freshers flu

katie89

Lokolo wrote: »

Thats estimating going out twice a week, which he will do for the first couple of weeks, then he'll get freshers flu

In the first fortnight of uni it's more like twice a night, rather than twice a week! :eek:
I've found this quite an interesting thread to read. I've just graduated, but my parents didn't set me budgets/ give me cash/ want to pay off my loan. They helped me work out the loan assessment form, which was based on their income, but its always been (silently) understood that my decision to go to university was just that, and any debt incurred from it would be mine, not theirs. I find it bizarre that anyone would expect their parents too, but maybe thats just me.

Oldernotwiser

katie89 wrote: »

In the first fortnight of uni it's more like twice a night, rather than twice a week! :eek:
I've found this quite an interesting thread to read. I've just graduated, but my parents didn't set me budgets/ give me cash/ want to pay off my loan. They helped me work out the loan assessment form, which was based on their income, but its always been (silently) understood that my decision to go to university was just that, and any debt incurred from it would be mine, not theirs. I find it bizarre that anyone would expect their parents too, but maybe thats just me.

Not just you, quite a lot of us would agree with this.

evespikey

I would expect my parents to pay (not all, but certainly some) of the costs involved with being a uni student as my father was able to move up a class because the state funded his education and living costs, and teacher training costs for free. My mum was able to escape the poverty her parents were thrown into due to WWII through state grants. Both parents paid nothing and lived for free.

I would be ashamed as a parent to see my child accumulate £20,000+ (my current debt) in student loans just to get to the same level of education I had for free. Especially if I was earning a very good salary (as my dad is, just retired early because he wants to) and could afford to support the child. If you don't support them in that case, it is very malicious, and not good moneysaving either. With that being said, I would always encourage my child to get a part-time job so they learn the value of money- providing it meant part time, that is under 10 hours. I wouldn't want them working over 10 hours- university should be a full time job and luckily our top universities (Oxford) recognize this.

setmefree2

Lokolo wrote: »

Thats estimating going out twice a week, which he will do for the first couple of weeks, then he'll get freshers flu

Oh my - what the heck is freshers' flu?
£30 for a night out - what does that go on? Club entrance, taxis, just booze?

setmefree2

katie89 wrote: »

I've found this quite an interesting thread to read. I've just graduated, but my parents didn't set me budgets/ give me cash/ want to pay off my loan. They helped me work out the loan assessment form, which was based on their income, but its always been (silently) understood that my decision to go to university was just that, and any debt incurred from it would be mine, not theirs. I find it bizarre that anyone would expect their parents too, but maybe thats just me.

Hi katie :hello:

Our son would never be able to get a large amount of student loans, as me and my hubby earn too much. Parents are expected to contribute to their children's maintenance. That's the system. I have no idea why your parents chose not to contribute to your upkeep. Maybe they didn't earn enough and you got the full amount of loans? Maybe they were supposed to contribute to your upkeep but didn't and you are ok with this? Maybe neither you or your parents knew that they should be contibuting to your upkeep?

Here is a link. It shows the maximum student loan our son would get is £3,564. (It is the minimum that a student is given) Do you expect our son to live on £3.564????

http://www.studentfinance.direct.gov.uk/portal/page?_pageid=153,4680136&_dad=portal&_schema=PORTAL

Presumably, you will reach the (obvious) conclusion that no-one could live on £3.5k per year. So, what do you expect me and my hubby to do? Just hand over money to our son without any regard to what Uni really costs?

I can't really understand why some posters don't get this?

Furthermore, the studen loan system is changing in Autumn 2012 so potentially student loans may not seem like a good deal. Maybe we could borrower cheaper than the govenment are lending. (I can't understand why posters don't get this either)

Or maybe - since we will have absolutely no debts then (not even a mortgage) and also have large amounts of savings - we could just give him some money!

.... And then, the question becomes how much money should we give him and that, my friend, is why I am here (phew!)

setmefree2

Oldernotwiser wrote: »

Not just you, quite a lot of us would agree with this.

But plenty don't! We have to pay for our son's upkeep. You seem to think that he can just tell us how much he wants. I really don't get that. Maybe you don't understand how the system works?

setmefree2

evespikey wrote: »

I would expect my parents to pay (not all, but certainly some) of the costs involved with being a uni student as my father was able to move up a class because the state funded his education and living costs, and teacher training costs for free. My mum was able to escape the poverty her parents were thrown into due to WWII through state grants. Both parents paid nothing and lived for free.

I would be ashamed as a parent to see my child accumulate £20,000+ (my current debt) in student loans just to get to the same level of education I had for free. Especially if I was earning a very good salary (as my dad is, just retired early because he wants to) and could afford to support the child. If you don't support them in that case, it is very malicious, and not good moneysaving either. With that being said, I would always encourage my child to get a part-time job so they learn the value of money- providing it meant part time, that is under 10 hours. I wouldn't want them working over 10 hours- university should be a full time job and luckily our top universities (Oxford) recognize this.

An excellent post imho. Some baby boomers just don't seem to accept that the system has changed. Though I have to say the system is changing rapidly and I don't think many parents are actually keeping up with what is really going on.

Good Luck!