Leaving university debt free

southoftheriver

No way I could have done it. Was at uni seven years and had no parental support financially. Well done to those that do (through working and th elike). I am always surprised at how blase some students are about the amount of support they receive from their parents. They are so incredibly lucky to be in the situation where people can support them through their studies. I am proud that I got through without their help but it angers me when people are so flippant. My children will know the value of money, I can see them getting annoyed with me going on about it!

Oldernotwiser

Person_one wrote: »

So? If that person is ok with it and actively wants to help you, what's wrong with that? Most parents don't actually want to just wash their hands of their kids when they turn 18, they care about them and want the best for them. They've been paying for them for many years, its not a new and shocking experience!

Fortunately, many young adults want to be independent and not cadge off their parents for longer than they have to.

I think that there's a big difference between supporting your student offspring so that they can study effectively and subbing them so they can line their pockets with their parents' money and boast about it.

Just as well we're all different, isn't it?;)

Person_one

Oldernotwiser wrote: »

Fortunately, many young adults want to be independent and not cadge off their parents for longer than they have to.

I think that there's a big difference between supporting your student offspring so that they can study effectively and subbing them so they can line their pockets with their parents' money and boast about it.

Just as well we're all different, isn't it?;)

I bloody hate that winking smiley.

Dealio

Oldernotwiser wrote: »

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..

I completely agree. If you focus on not being in debt you are more likely to miss out on very worthwhile and desirable skills that employers really value. A placement year is a good shout, so you can get the experience AND make some cash.
I think so much depends on the University you go to/course you do. Mine was only 5 hours a week so very easy to get a part time job, however, there is no way some of my friends would have been able to do this on their courses that demanded more hours.
However, I wouldn't be too engrossed by making money whilst your there. The worst thing that can happen is that you spend too much time making money and too little time studying so you don't make the grade you want and then ask yourself...was it worth it?

rainbow_carnage

Person_one wrote: »

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

Sorry, but you have no idea what you're talking about.

I did my BSc and MSc f/t at a prestigious London uni. Paid overseas tuition fees for the BSc. In total, tuition came to over £40k. I didn't take out any loans. My parents didn't pay for anything. I worked. Sometimes I worked p/t, other times f/t. When I finished my MSc, I had no overdraft and no debt. And I did well academically.

My husband did two degrees in London. His parents didn't contribute a penny. He finished debt-free, too.

Yes, it's definitely possible. Work as much as you can when you have the time (summer, half-term, start of term) so you can cut down in the weeks before exams. Find a decent-paying job. Why work in a pub for £6/hr when you can work behind the bar in a club and make two or three times as much? A friend worked p/t as a receptionist/PA while doing her degree. She earned £14/hr. You don't need to be a call girl or a dealer to make an OK living.

Learn to budget. Some of my classmates were buying weekly travel cards. Even with the student discount, that gets very expensive. Get a 0% APR credit card and buy an annual travel card. Better yet, get a bike.

London is expensive, but not prohibitively so. You can pay your bills and still have a bit of cash leftover to go out or do some low-budget traveling.

Good luck with your degree. And don't pay any attention to people who think you need to have rich parents to avoid debt. They're just bitter 'cause they didn't figure out how to do it, and are looking for someone else to blame.

dekaspace

Person_one wrote: »

So? If that person is ok with it and actively wants to help you, what's wrong with that? Most parents don't actually want to just wash their hands of their kids when they turn 18, they care about them and want the best for them. They've been paying for them for many years, its not a new and shocking experience!

I cant tell if you are saying parents who do charge dont care.

Anyway my parents charged me £28 a week(this is going back 9 years) as I used eletricity, got food cooked and bought for me etc and internet access.

My parents werent that well off anyway but my dad wasnt fond of the idea of him having to work for a few hours a week to support me when I had the cash.

They also took me on holiday when I lived with them and gave me the odd £5/£10 as a gift.

I wish I could easily live off £28 a week now for utilities, food and other stuff!

melancholly

rainbow_carnage wrote: »

Good luck with your degree. And don't pay any attention to people who think you need to have rich parents to avoid debt. They're just bitter 'cause they didn't figure out how to do it, and are looking for someone else to blame.

i think it is increasingly hard for students to get part time jobs during uni..... which is making things harder for those who are fully self financing. i also think that some students work so many hours that it really impacts on their grades, making the longer term benefit of the degree worth less. it's great that you managed so well, but there's never a solution that fits all. i don't think people are looking to blame others, just realising that to do it all alone, without student loans, is very hard and is the exception, rather than the rule. being proud of what you've done doesn't have to mean looking down on people who've done it differently.

Oldernotwiser

rainbow_carnage wrote: »

Sorry, but you have no idea what you're talking about.

I did my BSc and MSc f/t at a prestigious London uni. Paid overseas tuition fees for the BSc. In total, tuition came to over £40k. I didn't take out any loans. My parents didn't pay for anything. I worked. Sometimes I worked p/t, other times f/t. When I finished my MSc, I had no overdraft and no debt. And I did well academically.

My husband did two degrees in London. His parents didn't contribute a penny. He finished debt-free, too.

Yes, it's definitely possible. Work as much as you can when you have the time (summer, half-term, start of term) so you can cut down in the weeks before exams. Find a decent-paying job. Why work in a pub for £6/hr when you can work behind the bar in a club and make two or three times as much? A friend worked p/t as a receptionist/PA while doing her degree. She earned £14/hr. You don't need to be a call girl or a dealer to make an OK living.

Learn to budget. Some of my classmates were buying weekly travel cards. Even with the student discount, that gets very expensive. Get a 0% APR credit card and buy an annual travel card. Better yet, get a bike.

London is expensive, but not prohibitively so. You can pay your bills and still have a bit of cash leftover to go out or do some low-budget traveling.

Good luck with your degree. And don't pay any attention to people who think you need to have rich parents to avoid debt. They're just bitter 'cause they didn't figure out how to do it, and are looking for someone else to blame.

PersonOne did say you could do it with a lucrative part time job . I would say that earning £14 ph as a receptionist or £18ph (really?) on the bar in a club comes in that category.

£18 ph equates to over 32 grand pa, which most graduates would be lucky to earn even when they finish their degree!

Gillyx

£18 p/h working in a club? A strip club maybe.

Most people I know who have worked in nightclubs get paid minimum wage.

Reactive

I studied in London and left debt free, without any help from my parents I might add. I never worked part-time and I ate out at least 5 nights a week. I also lived alone, which was extremely expensive.

How did I do this?

I obtained a placement year in 3rd year inside the EU. For this I was paid 35,000 euros, tax free. After rent, utilities, travel etc, this came to 30,000 euros.

I set out not to get PT employment, but instead I worked hard during 1st and 2nd year ensuring that my academic work was outstanding, allowing me to get the best possible work placement. Therefore, not only did I get paid, I obtained a year's invaluable relevant work experience, built up many contacts, learn't a new language (well, not as good as my English), and was able to use the experience to get onto a postgraduate PhD course with only a BEng when I was competing against MEng students (who have paid an additional years [FONT=&quot]tuition!)

I'd recommend this to all science and engineering students. Just don't expect to get offered a position after you graduate!
[/FONT]