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Save student maintenance monies?
nancybetty
Posts: 15 Forumite
My daughter started a 3 year course in September 2013 and I have just discovered that she is eligible for maintenance monies of approx. £3600. She doesn't need these monies to live on (we give her a monthly allowance), should she apply for the loan and simply bank the funds in an interest bearing account?
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nancybetty wrote: »My daughter started a 3 year course in September 2013 and I have just discovered that she is eligible for maintenance monies of approx. £3600. She doesn't need these monies to live on (we give her a monthly allowance), should she apply for the loan and simply bank the funds in an interest bearing account?
Probably yes, although there are better things to do with the money than leave it in the bank.0 -
Don't forget that the loan attracts interest of RPI + 3%.0
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