Leaving university debt free

mightymixty

Do you think it's possible to leave university debt free? I start uni in October (in London!) and plan to save as much money as I can to see if I can leave university as near debt free as possible.

Lokolo

Er it'll be difficult but it could be done yes.

Oldernotwiser

Do you mean debt free apart from the tuition fee and maintenance loans?

spadoosh

Possibly if you were earning 20 - 25k per annum or had the equivalent in savings

Probably more than this in london!

melancholly

i'm sure that plenty of people from more well off backgrounds manage it every year......

Person_one

I went to uni in London and left with only my SLC debt and about £500 of interest free overdraft.

My parents paid for my phone bill and my travelcard, I worked full time every summer and part time sporadically during term times.

mightymixty

Oldernotwiser wrote: »

Do you mean debt free apart from the tuition fee and maintenance loans?

Nope. I mean with the loan but also the equivalent in savings, so completely debt free really.

mightymixty

spadoosh wrote: »

Possibly if you were earning 20 - 25k per annum or had the equivalent in savings

Probably more than this in london!

Wow where do you get those figures from? i'd estimated 15k per year max!

Person_one

mightymixty wrote: »

Nope. I mean with the loan but also the equivalent in savings, so completely debt free really.

Not gonna happen unless you have incredibly generous parents or an amazingly lucrative part time job.

Oldernotwiser

mightymixty wrote: »

Nope. I mean with the loan but also the equivalent in savings, so completely debt free really.

Unless you have very wealthy and generous parents it's extremely unlikely.

Personally I don't even feel that it's a desirable situation to aim for. Getting good grades and having a well rounded student experience would be far more valuable for your future than leaving debt free.

Person_one

Oldernotwiser wrote: »

Unless you have very wealthy and generous parents it's extremely unlikely.

Personally I don't even feel that it's a desirable situation to aim for. Getting good grades and having a well rounded student experience would be far more valuable for your future than leaving debt free.

Agreed. Student debt is the best debt you'll ever have anyway!