OU coninue on Transitional fees or get a student loan???

storymaker

I’m looking for some advice please.
When I started with the OU last year I wasn’t sure what Iwanted to study, ideally a Physics and Maths route (if I’m not too thick) but the options available were, Maths or Natural Sciences or an Open Degree, so I opted for the Open Degree although I know it sounds snobbish I’d much prefer a named degree.

With a lot of the courses being replaced I still can’t decide on a plan, although I have found out that with the Open Degree I now have until 2019 to complete it but probably only get transitional funding until 2017 then full fee for two years (to be confirmed). And a lot of the courses are being replaced by newer modules that transitional students can’t study so choices are limited.
To gain the transitional status I completed Y182 in June 2012 worth 15 credits at Level 1, I need to complete another course between now and October to remain eligible but none of the short courses are jumping out at me and I've left it too late to sign up to a 30 pointer.

I have however noticed that the OU now offer a Bsc (honours) Maths & Physics…perfect, but as a transitional student I wouldn’t be eligible to study for it.
So…do I give up my transitional status and study the new Bsc Maths & Physics via a student loan or do I make up my own Bsc (Honours) Open with 50% Maths and 50% Physics modules?

My main concern is although the student loan will be cheap to pay back the amount of interest accrued will probably double it.

A brick Uni is no good for me as I work full time and I have two young children and simply couldn’t afford to live on just my husband’s income and grants whilst studying.
My dream is to eventually do a PGCE and become a teacher.

Any advice is much appreciated…:)
x

WildGeese

As I understand it, the amount of the loan doesn't affect how much you repay a month. So whether you borrow £15,000 or, say, £27,000 your monthly repayments would be the same. Of course, you'd pay it back over a longer period but as you sound like a mature student that might not be an issue as you may be retired before the end of the loan period (which is 30 years I think).

I'm in a similar situation, transitional or loan (whether brick or OU). I'm a bit worried about future governments changing the loan terms/conditions or the £21,000 threshold not being raised. It's a tricky decision.

Good luck with your studies.