OU transitional fees v student loan

WildGeese

Hello,

I'm new to MSE but have been lurking/reading for ages. As I'm not terribly good with money, I thought I'd canvas some opinions here.

I'm a mature student who has to decide between carrying on with the OU under transitional arrangement or going to a brick uni in Sept.

I did a couple of openings courses with the OU in the summer to allow me transitional fees and now have until April to scrape in another course (L1 30 credits) to continue on the arrangement.

I'm in two minds about whether to continue with the OU or to go to a brick uni and get a student loan. I would be part-time so would not be eligible for any other maintenance loans etc. I've been offered a place but due to terminal indecision I'm not sure what to do.

Compounding my indecision is the Access course I'm on has been a bit of a disappointment (I was convinced I wanted to do OU then changed my mind so started an Access course in Sept.) I'm the oldest by far and it's surprisingly isolating. I worry that I'll still feel like this at uni but will end up with a £27,000 debt for the privilege.

Another option is to start afresh with the OU in Sept with a student loan but the new qualification pathways are a lot more restrictive and some courses are ending (I'd be able to do them under TA) and the OU haven't said what they are to be replaced with.

So, I'm wondering if I should base my decision on finances. Would it be better to pay for a £4,000 degree as I go and have no debt or, because of my age (in my 40s) would a student loan be better for me.

Just to add to my general dithering I'm a SAHM and I don't quite know what I want to do eventually but do know I want to study.

Thanks for reading this epic post.

Dunroamin

What do you want to study and which universities are within your geographical area?

WildGeese

Thanks for replying!

I want to study English Lit and History and there are two small, new universities in my area both of which have offered me a place.

pjread

At risk of sounding biased (I'm a current OU student, although did my first degree at a 'real' university), and perhaps a little 'snobbish';
Teaching and materials quality is likely to be lower at a "new/small university" than from the OU in my opinion.

That said, if you need more prodding than the OU tends to give and feel on-site is needed due to your own learning style, then the decision should be simple.

The transitional arrangements vs loan really comes down to a few things;
1/ will you realistically need to repay the loan?
2/ can you afford the TA fees 'upfront'?
3/ does changing stifle your course choices?

Frankly I'd take TA every time unless you're never likely to repay the loans. But then I might be a little jaded as it took me a long time to clear my first set of loans (and I think I was one of the first to get clobbered with them)

nb - possibly a minor consideration, but also bear in mind core materials with the OU tend to be "inclusive" whereas most (all?) bricks and mortar establishments will expect you to go out and buy textbooks etc - depending on field this can get pricey (or at least seemed it 15 years ago...)

Dunroamin

WildGeese wrote: »

Thanks for replying!

I want to study English Lit and History and there are two small, new universities in my area both of which have offered me a place.

I'm afraid that I'm going to sound snobbish as well. I wouldn't get into many thousands of pounds worth of debt to go to small, new university.

Personally, I think that in your situation, I'd stick with the OU.

Good luck with whatever you choose.

WildGeese

pjread wrote: »

Teaching and materials quality is likely to be lower at a "new/small university" than from the OU in my opinion.

Thanks for your reply. The quality of materials and teaching at the universities is something I'm concerned about. I've checked the stats and various league tables and they are OK, nothing special. Not dire though.

I'm also concerned about resources - I wonder if there would be much competition for library books.

Really, if I'm getting into debt for thousands I want to go to the best uni I can but family commitments make this impossible. Thanks for your input - much food for thought there!

WildGeese

Dunroamin wrote: »

I'm afraid that I'm going to sound snobbish as well. I wouldn't get into many thousands of pounds worth of debt to go to small, new university.

Personally, I think that in your situation, I'd stick with the OU.

Good luck with whatever you choose.

Thank you!

I think that's what it boils down to - if I can't go to a Russell Group uni (because of family commitments) then maybe the OU is the next best option.

Fire_Fox

Have you made an effort to get to know your fellow students and to organise to study together? Are there are parents societies or organisations so you can meet other mature students on other course?

I've studied at degree level in my mid twenties and my mid thirties and whilst it is a little strange being around youngsters it's possible to fit in if you put in the effort. I've also worked in larger universities and there are mature students about: in fact in one our first class honours grads and the PhD students were generally mothers - often single ones - and the oldest was in her fifties.

Often I think very young people don't know what to talk to you about, especially given you mention your family commitments so often. But you being the one with life experience can break that barrier.

I wouldn't necessarily go to a new small university either. You won't have the facilities of a larger place, library resources (not just up to date books but access to online stuff, you will want journals and databases for history) are pricey and they won't have that for a new course or a small number of students. Some smaller places of study have arrangements with local larger universities to use their library facilities. Have you considered asking to sit in on a couple of classes at the two unis that have offered you a place?

Remember that student finance is not the same as a regular debt, it's not counted on your credit file nor if you want to take out a mortgage, it doesn't have to be paid if you are not earning enough, the amount owing is wiped after 30 years regardless if you have paid a penny.
http://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes

WildGeese

Fire_Fox wrote: »

Have you made an effort to get to know your fellow students and to organise to study together? Are there are parents societies or organisations so you can meet other mature students on other course?

I've studied at degree level in my mid twenties and my mid thirties and whilst it is a little strange being around youngsters it's possible to fit in if you put in the effort. I've also worked in larger universities and there are mature students about: in fact in one our first class honours grads and the PhD students were generally mothers - often single ones - and the oldest was in her fifties.

Often I think very young people don't know what to talk to you about, especially given you mention your family commitments so often. But you being the one with life experience can break that barrier.

I wouldn't necessarily go to a new small university either. You won't have the facilities of a larger place, library resources (not just up to date books but access to online stuff, you will want journals and databases for history) are pricey and they won't have that for a new course or a small number of students. Some smaller places of study have arrangements with local larger universities to use their library facilities. Have you considered asking to sit in on a couple of classes at the two unis that have offered you a place?

Thanks for your reply - apologies for my v belated response (post had slipped down the pages and I hadn't thought anyone else had replied).

I have made an effort with the young ones on my course but it is a bit of a one way street (for instance, they don't ask if I'm on FB/Twitter. Not sure if its occurred to them!).

Also, I've mentioned my family commitments on here as they are pertinent to my question. I don't bang on about them but equally, I am a SAHM and 'family' does fill a large portion of my time. I have admired pictures of one of the student's dogs dressed up but have never shown anyone pics of my kids.

Thanks for your response, general opinion seems to be small, new uni= not worth it. I think the best option is to do an OU degree with a student loan. It would certainly be the cheapest. Then perhaps I could visit local uni libraries where I could study.