How am I supposed to afford college at 30 with 2 children?

TrickyWicky

Student loan sounds attractive despite all the recent stigma..

As I understand it.. You don't pay anything back until you're earning £25k, if your pay drops below it stops again, payments are £30 a month and if its not paid off after 25 years they write it off. I know its a bad deal compared to Scotland who get it all for nothing but even so, £30 a month ain't bad and most people could spend that on the pub without even thinking about it.

I'm seriously considering it myself. On the suns website the other day they featured a 25 year old lady who is £80k in debt after all her training. In reality she's never going to easily pay it all off but at least she's doing her dream job and earning fairly decent money in the process. If she's paying that lot off at £30 per month then she's never going to repay the entire amount anyway is she? (although that may not be student loans she's used as you don't exactly go to uni to learn to fly a commercial airliner!).

It made me sit and think.. if the SLC are willing to lend you the money for the courses and you end up £50k in debt does it matter for such low repayments and security if you end up out of work? (Remember the repayments are only if you're on £25k+ ). Sure it's a ball and chain around your neck for 25 years but most folks have credit cards anyway so whats the difference? At least the SLC won't try to bankrupt you or send in the bailiffs if you're in the ****!

Sambucus_Nigra

princessdon wrote: »

Do you have a "full level 2 qualification"?

If so then under "current rules" you are entitled to the course free and the childcare can be subsidised if you can show a low income once essentials (rent, bills, childcare)

Can you post a link to this please?

blissfulbabe

TrickyWicky wrote: »

Student loan sounds attractive despite all the recent stigma..

Student loans are not available for FE courses.

Funding for FE courses can be a bit challenging at times as the Government can (and does) make last minute changes to what can and can't be funded - the only thing we can be sure of is that is less money for adult learners as the government is currently pumping money into apprenticeships.

Emmzi

by living like a student?

part time job and beans on toast. That may not match your current standard of living, but it is how many students do it.

Dunroamin

Sambucus_Nigra wrote: »

Can you post a link to this please?

I doubt it, it wasn't true even before the cuts! And anyway, an Access course is level 3.

Dunroamin

TrickyWicky wrote: »

Student loan sounds attractive despite all the recent stigma..

As I understand it.. You don't pay anything back until you're earning £25k, if your pay drops below it stops again, payments are £30 a month and if its not paid off after 25 years they write it off. I know its a bad deal compared to Scotland who get it all for nothing but even so, £30 a month ain't bad and most people could spend that on the pub without even thinking about it.

I'm seriously considering it myself. On the suns website the other day they featured a 25 year old lady who is £80k in debt after all her training. In reality she's never going to easily pay it all off but at least she's doing her dream job and earning fairly decent money in the process. If she's paying that lot off at £30 per month then she's never going to repay the entire amount anyway is she? (although that may not be student loans she's used as you don't exactly go to uni to learn to fly a commercial airliner!).

It made me sit and think.. if the SLC are willing to lend you the money for the courses and you end up £50k in debt does it matter for such low repayments and security if you end up out of work? (Remember the repayments are only if you're on £25k+ ). Sure it's a ball and chain around your neck for 25 years but most folks have credit cards anyway so whats the difference? At least the SLC won't try to bankrupt you or send in the bailiffs if you're in the ****!

Wow, what a lot of misinformation in one post!

1. The OP can't get student loans for an Access course.

2. The OP can't get a maintenance loan for a part time degree course.

3. The repayment threshold for student loans is £21,000, not £25,000.

4. Scottish students don't pay fees but the do have to take out maintenance loans.
5. If someone's taken out a loan to train as a pilot, it'll be a PCDL and not a student loan so..
6. The repayments would be vastly higher than £30 pm.

Alas, I feel that degree level study may not be for you!;)

SwipernoSwiping

Have you looking into what the local University offers on a part time basis.
I'm a mum of two, hubby brings home less than 20,000. I'm doing a 6 year/part time degree. one night a week but it started with an access year.

I do get some assistance with the fees, but not with childcare because of the time the course is run.
While I am aware that this is somewhat slower than full time, but importantly for me I can manage the study requirements without crippling us financially. If it doesn't work out the credits are transferable to another course, but you'll find it will sate that need to learn.

justjohn

you husbands on 35k...drop your standard of living then you can afford it.

princessdon

Dunroamin wrote: »

I doubt it, it wasn't true even before the cuts! And anyway, an Access course is level 3.

If people quoted the whole quote and not a partial quote then perhaps people like youreself wouldn't be quick to judge! The full quote was asking if they had a full level 2 qual (Ie 5 GCSE's grade A-C or NVQ Level 2 etc). Under CURRENT rules (guidance not yet fully given for 12/13 - but indicates that this will go for under 24's), the access course would be FREE regardless of income.


I can't post the link (won't let me)

But here is the relevant section of the Skills Funding Agency Guidance (google it for information)

"Section 94

From 2011/12, only the following learners will be entitled to full fee remission:


Individuals on Job Seekers Allowance (JSA) or Employment and Support

Allowance in the Work Related Activity Group (ESA (WRAG)). Fully

funded provision for these learners can include units as well as full

qualifications


Learners (of all ages) studying their first full Level 21 qualification


Entry2 or Level 1 aims (excluding Skills for Life) where a learner has an

entitlement to a full Level 2 qualification, in that they must have a highest

prior attainment of Level 1 or below, but need a step up from basic skills

in order to progress to a full Level 2


19-24 year old learners studying their first full Level 3 qualification


Level 3 ‘jumpers’ of all ages (those taking a full Level 3 or above without

having attained a full Level 2 qualification)


Learners studying aims that are Adult Basic Skills and Functional Skills in

literacy and numeracy, excluding Skills for Life English for Speakers of

Other Languages (ESOL)


Individuals studying Trades Union Congress (TUC) learning aims


An individual studying their first full Level 3 qualification that has left the

British Armed Forces
3 after completing 4 or more years of service or

have been medically discharged, due to an injury in active service, after

With regards to childcare funding there is "no rule". It is college by college who deal with hardship. For Eg I deal with 3 main FE colleges, their rules vary. One will pay 20% towards costs if disposable income is under a limit, one will pay 30%, the final one refuses to contruibute. All have one thing in common - They only do this at the end of the year (ie now) IF they have spaces in their own childcare facility and it suits them, they may not guarantee the same for Sept.

mynameistallulah

Emmzi wrote: »

by living like a student?

part time job and beans on toast. That may not match your current standard of living, but it is how many students do it.

Excellent point - it seems that some with children expect state support in whatever they wish to do.