what does student debt mean???

studentloan

I hear people talk about their student debt. I changed course after my 1st year of uni and am now on year 3 of a 4 year degree.

I've taken out the loan in all of the 4 years i've studied. £3000 for the first two and £3900 for the last two. That is £13800. I consider that (plus interest) will my student debt (i don't need to take it out next year.

I know people on the new system will need to pay £3000 extra a year so that will contribute to their debt.

Do some people have debt beyond this??

I hear of student debt a lot but i'm wandering what they (the media etc.) mean by it?

i look it my stent loan as a student tax anyway

Blacksheep1979

well some people will have one or more overdrafts and maybe a credit card and the foolish have catalogue accounts too - so maybe an extra £5k there.

Karnam

london loans are currently over 5k a year.

i owe well over 15k for 3 years. and thats just student loan

DrFluffy

Karnam wrote:

london loans are currently over 5k a year.

Mine's well over 6k - damn extra weeks!

Diminutive

Well, theres now two official "student loans" that people starting this year will have (except gappers from last year!). Theres the tuition fee loan for £3,000 paid direct to the university. Then theres the maintenance loans which are around £3,200 but its means tested, I can't remember what the non means tested amount is. So roughly about £6,200 a year.
Any other loans are like unofficial student debt!

Karnam

almost all students caterogise debts into two general debts.

one is anything done through the student loan company. tuition loans maintance etc. etc.

two is personal debt. this is the truly crippling stuff. over drafts credit cards family loans etc.

priority is always for the most expensive debts which is obviously going to be credit cards for most people, followed by overdrafts, and then the SLC debts. its just common sense.

like some people consider immediate debts things like credit cards and overdrafts, but the mortgage is a long term low priority debt.

Tallulah22

i wil owe around 16k maybe more for my loan with the SLC

impy78

Hmm, nice.

If it makes you guys feel any better, as a direct result of this course i owe my family...wait for it......


£22,000!!!! (For the course fees and living costs, as they wouldn't let me take out a loan)

and £5k to the student loan co from the first time, many moons ago (our student loans were £1.5k a year back then)

DrFluffy

Tallulah22 wrote:

i wil owe around 16k maybe more for my loan with the SLC

I owe more than that already - and I have another 3 years to go... *sobs*!!!

Tallulah22

DrFluffy i feel for you, but in the long run it will be worth it, just keep telling yourself that..