Student Loans 2012

setmefree2

Oldernotwiser wrote: »

Considering that the people who disagree with you are students,academics and a retired careers adviser, it's hard to see which of us could have a vested interest in anybody doing anything!

Most posters arguing with me on this thread seem to be employed in Unis. On the other hand, ALL the PMs I am receiving are from parents.

Do you realise that many parents are scared to post on this board? I personally think that is really sad. A large proportion of parents have to pay quite a large proportion of their child's maintenance costs yet their is a cohort of posters that seem to want to prevent parents from talking about this. Can you explain why that is please?

setmefree2

Oldernotwiser wrote: »

You, on the other hand are an accountant who's advising students and their parents (if I've understood you correctly) to take on substantial commercial loans which will have to be repaid regardless of personal circumstances. You may not have a vested interest but it seems to me to be highly dubious advice from a finance professional.

I'm not giving any advice at all. However, I will give links to others who are giving advice. Please feel free to do the same.

You still haven't told me what your VI is?

setmefree2

littlepinkstars44 wrote: »

£3k is easy to live on. uni is not for a full year, it is only 24 weeks! I don't live on £6k, my loan works out at just over £4k, and i work for anything extra i need. Tell your son to get a job if he needs extra cash.

Thank you for your input. I don't understand, if your Mum earns less than £25k, how do you end up with SLs of only £4k. Why don't you get a £3k maintenance grant? Do you live at home?

The_One_Who

setmefree2 wrote: »

Most posters arguing with me on this thread seem to be employed in Unis. On the other hand, ALL the PMs I am receiving are from parents.

Do you realise that many parents are scared to post on this board? I personally think that is really sad. A large proportion of parents have to pay quite a large proportion of their child's maintenance costs yet their is a cohort of posters that seem to want to prevent parents from talking about this. Can you explain why that is please?

No one wants to stop parents from talking about this, we want to try to encourage their children to do it though, considering it is the student who will be taking out the loans and the student accounts. Remember, these 'children' are actually adults and are going to university, the institution of independent learning with no hand-holding.

setmefree2 wrote: »

Thank you for your input. I don't understand, if your Mum earns less than £25k, how do you end up with SLs of only £4k. Why don't you get a £3k maintenance grant? Do you live at home?

In Scotland the maintenance loan is much lower. This year the absolute maximum is around £5,000 (for those living away from home), although it has been sitting at around £4,500 for a number of years. There are no added university bursaries here either, or added grants. The grant is included in the loan amount.

setmefree2

The_One_Who wrote: »

Setmefree, you still haven't answered what alternatives the students have. We all know the system isn't perfect, and it never will be.

I'm not suggesting anything!:money::D I'm not wandering down that Cul-de-sac :rotfl:

People have to make their own minds up

setmefree2

The_One_Who wrote: »

In Scotland the maintenance loan is much lower. This year the absolute maximum is around £5,000 (for those living away from home), although it has been sitting at around £4,500 for a number of years. There are no added university bursaries here either, or added grants. The grant is included in the loan amount.

Presumably it is cheaper to live in Scotland then, which is why the loans are much less, and would explain how someone could live on £4K?

I can't imagine how anyone could live on £4k in the SE.

setmefree2

The_One_Who wrote: »

No one wants to stop parents from talking about this, we want to try to encourage their children to do it though, considering it is the student who will be taking out the loans and the student accounts.

Student loans are only half the story when it comes to student finance though. Many parents are having to pay for half their kids maintenance costs, so why can't parents discuss this?

Maybe we need our own sub-board? I think the amount of hostilty parents have to put up with on this board is ridiculous. I think the fact that we have to communicate by PM because parents are to scared to post is ludicrous. I also think it is robbing MSE of a very useful resource because I have had some really interesting and thoughtful PMs which could be helpful to many people not just me.

Lokolo

setmefree2 wrote: »

Student loans are only half the story when it comes to student finance though. Many parents are having to pay for half their kids maintenance costs, so why can't parents discuss this?

Maybe we need our own sub-board? I think the amount of hostilty parents have to put up with on this board is ridiculous. I think the fact that we have to communicate by PM because parents are to scared to post is ludicrous. I also think it is robbing MSE of a very useful resource because I have had some really interesting and thoughtful PMs which could be helpful to many people not just me.

They can. And all we'll say is that they are being taken for granted. If a student got a partime job, and a summer job, there would be no need for any parent to ever contribute to anything.

My ex lives in central London, she is paying £125 a week exclusive just for rent, she then has travel etc.. She has a partime job, she doesn't ask for money from parents because they can't afford to. It can be done. (edit - although she does get paid £12 an hour! so a pretty good job!)

And there is actually a families board, it's here:

http://forums.moneysavingexpert.com/forumdisplay.php?f=24

If parents want to post they can, we aren't abusive, we don't swear at them. If we disagree with people we give reasons, they can choose to ignore them if they want, but we're the ones that know the system because we've either been through it, taught others about it, or had to as part of our job.

The_One_Who

setmefree2 wrote: »

Presumably it is cheaper to live in Scotland then, which is why the loans are much less, and would explain how someone could live on £4K?

I can't imagine how anyone could live on £4k in the SE.

Not really, Edinburgh can be quite an expensive city, and most University of Glasgow students live in the more expensive west end.

Looking at the estimated costs of living for international students, Edinburgh University suggest a weekly budget of around £174-£186 if in a private flat. In Glasgow (where the cost of living is a bit less than other places) the average monthly rent is £250-300, not including bills. Most students do need to find a job to survive. We may not pay tuition fees, but the maintenance amounts aren't great.

setmefree2 wrote: »

Student loans are only half the story when it comes to student finance though. Many parents are having to pay for half their kids maintenance costs, so why can't parents discuss this?

Maybe we need our own sub-board? I think the amount of hostilty parents have to put up with on this board is ridiculous. I think the fact that we have to communicate by PM because parents are to scared to post is ludicrous. I also think it is robbing MSE of a very useful resource because I have had some really interesting and thoughtful PMs which could be helpful to many people not just me.

Parents can discuss it. In fact a lot of people here make good suggestions such as making up food hampers, or having those shopping voucher things. Or giving students a set amount per month/term and letting them budget it themselves. No one here has any problem with parents helping their children, only with trying to do everything for them.

littlepinkstars44

setmefree2 wrote: »

Thank you for your input. I don't understand, if your Mum earns less than £25k, how do you end up with SLs of only £4k. Why don't you get a £3k maintenance grant? Do you live at home?

Scottish student loans work differently, we get a loan and a bursary - together mines adds up to £4250 a year. Yes i live at home, but i still pay my mum rent, bring in shopping and pay my share of gas, electricity, tv and internet. I also need a monthly bus pass, and manage a few nights out/gigs a month.
So i am paying out the same amount i would if i lived on my own, but getting less money. But again that is my choice, i have debts to pay as well, and i manage just fine, so i don't really see why your son would not manage on a budget.