Student Loans 2012

Lokolo

BACKFRMTHEEDGE wrote: »

Ha ! Ha ! setmefree2 you are so right. This is got to be some of the most hostile posters on any board on MSE. Anybody would think you were abusing your kids not looking out for them. You couldn't make it up

When you've had to answer questions about interest rates of student loans, had people start threads asking for £5k loans to buy a car at 18, then you'll understand why we don't hold back.

setmefree2

Lokolo wrote: »

That honestly shows how little you know about this situation. Not meaning to offend of course, but given that I am now in my 4th year of being a student - I know a heck lot more than you do about finances with them.

So - you, a fouth year student, are advising me an accountant of 30 years on financial planning - oh my, you really couldn't make this up.

But well done on the savings by-the-way. I'm sure that must have taken a great deal of effort. What are you saving for?

By the way I have obviously strayed onto the wrong board and will be moving along very sooooon....

Lokolo

setmefree2 wrote: »

So - you, a fouth year student, are advising me an accountant of 30 years on financial planning - oh my you really couldn't make this up.

Only in terms of what you need in terms of finance as a student, not anything else! By all means, you can give you son £8k a year in total to live off, but he doesn't need it. (expect him to have a PS3/Xbox, plus games, plus a spanky new gf )

And thanks! Not saving for anything yet. It would be for a house deposit but I have yet to decide which job I am going for. That's another story!

setmefree2

Lokolo wrote: »

Only in terms of what you need in terms of finance as a student, not anything else! By all means, you can give you son £8k a year in total to live off, but he doesn't need it. (expect him to have a PS3/Xbox, plus games, plus a spanky new gf )

And thanks! Not saving for anything yet. It would be for a house deposit but I have yet to decide which job I am going for. That's another story!

That's all I wanted to know... how much he needed... and he's got all of the above including the girlfriend See, he really is self motivated - he found her himself:rotfl:

Hey well done on getting together the money together. I really mean it. I'd be very proud of my kids if they managed to do that.

When you do buy a house visit the mortgage free board. They are a great supportive bunch and you'll be free of that mortgage in no time.

Oldernotwiser

PaulW1965 wrote: »

I, for one, admire you very much. I honestly can't understand why you are taking so much flack.

My comments certainly haven't been intended as "flack", I've simply been saying that no parent should do all the financial arrangements for their "child", as was implied in the OP's earlier posts.

Oldernotwiser

setmefree2 wrote: »

So - you, a fouth year student, are advising me an accountant of 30 years on financial planning - oh my, you really couldn't make this up.

.

But HE/student funding is a very different thing from the sort of financial planning that you're familiar with, which is presumably why you've posted here.

Those of us who have been trying to offer an alternative perspective are either current students, academic staff or student advisers so our advice and opinions are both relevant and current.

GeneHunt_2

Oldernotwiser wrote: »

Those of us who have been trying to offer an alternative perspective are either current students, academic staff or student advisers so our advice and opinions are both relevant and current.

Your user name wouldn't fill anyone with inspiration though, would it?

unhappy_shopper

setmefree2 wrote: »

Roughly, how much do students need to live each year away from home?

Just happened to come across this thread.
I have seen your graphics many a time in the MFW thread.

Based on my experience (DS1 in his 3rd year at Oxford), you need to budget at least 6K per annum for their room rent, food, books, transport and other miscellany during term time. During holidays, he spends his time at home, so food and rent is accounted for. Some universities have restrictions regarding the students working during term time, Oxford does not allow its students to work during term weeks. HTH.

Derivative

unhappy_shopper wrote: »

Based on my experience (DS1 in his 3rd year at Oxford), you need to budget at least 6K per annum for their room rent, food, books, transport and other miscellany during term time.

It is fairly dependent on institution (and location) as to how much money they'll need. I'm at Oxford also and we're in university accommodation for the first year, knocks up the rent/food bills quite a lot.

I would say 5-6k is reasonable for me (full maintenance grant and loan just about covers it) - but that's probably the high end of the scale, with perhaps the exception of central London. I have friends that pay less than 160pm in shared housing - my rent is currently 600pm (bills inclusive, thank god)

And about working during term time - I can say that for my course, if it was possible, it wouldn't be advisable. 8 hours would be the max I could do without fatigue.

setmefree2

EdgEy wrote: »

It is fairly dependent on institution (and location) as to how much money they'll need. I'm at Oxford also and we're in university accommodation for the first year, knocks up the rent/food bills quite a lot.

I would say 5-6k is reasonable for me (full maintenance grant and loan just about covers it) - but that's probably the high end of the scale, with perhaps the exception of central London. I have friends that pay less than 160pm in shared housing - my rent is currently 600pm (bills inclusive, thank god)

And about working during term time - I can say that for my course, if it was possible, it wouldn't be advisable. 8 hours would be the max I could do without fatigue.

EdgEy Thank you sooooo much for your reply. It was very helpful:money: