Money (and the lack of it)

Oldernotwiser

I have to say that Ringo's right. If you have a joint mortgage with your parents you're equally responsible for paying it. If your parents stopped paying (not likely, I know) you would have to pay the whole amount.

I agree with Melancholly about renting out the other room. You really shouldn't need the hardship fund if you've got this available to you. If it's the grotty third bedroom that's left you might even have to consider giving up the good room if this would be more lettable. You do seem to be getting through a lot of money. An SOA would enable people to suggest ways of cutting costs.

emmaglet

I have two people interested in the other room,but its for June time. Still better than nothing!

Sus1e

Emma,

Come over to the DFW board - we will help you find ways to cut costs and increase you income.

seaweasel

Apply for the hardship fund. The money is there for students who are in financial difficulty, which you are. Don't think that because you technically own some of your property, that you're not entitled or you're taking money from poorer students. Universities need to shift all the money in the fund or they don't get as much for it the following year, in fact it's sometimes rebranded now to encourage students to apply.

Last year I got a short term loan from the student support people at my university to tide me over when I was waiting for my SLC loan, and paid it back when it came in. However a few months later we got a council tax bill in (we only got a 25% discount as my fiance was working) and when I went to get another loan I was told just to apply for the hardship fund. I did ask as to whether I was eligible as the other half of my household wasn't a student and we could normally cope with the bills, however I was told that the fund is there for that very reason - to help students manage financially. Many students have mortgages that they are wholly responsible for and unless you're fortunate enough to have very wealthy parents who'll throw money at you, then pretty much everyone is in the same boat in that being at university is financially difficult, and can sometimes be a struggle. In fact, even when we were both working we still didn't have much money, and we don't have a huge amount of debt. My fiance jokes that we'd be better off giving up work and going on benefits, but it's not that far from the truth (by the way, thanks Gordon for doubling my income tax, nice one).

Yes, you really should check out the exact situation with you and the mortgage but I don't see why you're getting a hard time on this thread.

Actually I just noticed you were applying for said fund but that your printer wasn't working. Just go along and speak to your student support people, they'll probably just go through it with you and sort out the application.

emmaglet

seaweasel wrote: »

Actually I just noticed you were applying for said fund but that your printer wasn't working. Just go along and speak to your student support people, they'll probably just go through it with you and sort out the application.

I managed to get the forms printed, although the printer kept jamming. GR. I went in today and spoke to a lovely lady, she said that she thought I would be eligible, and was impressed by everything I had done(Filled in forms, photocopied everything, as well as highlight what transactions over £100 were for) and that the application would be looked at on Tuesday, and then someone would be in contact with me.

Thanks for the advice.

techno_geek

emmaglet wrote:

I applied with Smile for a student account, and need to send them info, but I only just realised (Literally 5 minutes ago browsing the boards) that its not a good idea to have 2 student accounts/not really allowed.

It's not a bad thing having 2 student accounts, as long as you manage them properly and don't spend spend spend... I have 3 student accounts, 2 to pay my rent and bills (any money I earn is in a savings account, and I'll pay those overdrafts off at the end of each academic year). My third student account is what I live off, and I don't really go overdrawn on it at all but it's there if I need it.

Being sensible with overdrafts and credit cards is the key!