Do not need loans to survive but shall I still get them?

DannyWhoWorks

Hi, next year I am living at home instead of staying inrented student accommodation. I have a part time job so if I get the loans Ihave applied for, this will go straight into my savings as I won't actuallyneed them to survive.
I thought I was being pretty sensible but a friend of mymums have told her that I would be better off not getting the loans in the longrun as it will work out more expensive in the long term with interest on the loans etc?
Any advice would be great!

Voyager2002

Check what interest you will receive on the money in your savings account, and compare that with the interest that is charged.

In any case, remember that your situation may change and at that point having money available will broaden the range of options open to you. And if at any point you need money for a deposit on a place to live or whatever, student loans will certainly be the cheapest credit available to you.