Mature Student - no loans available - what to do?

fi-bi-ge

Hello,
I'm 42, have 2 kids (aged 10 and 6). I have a place on Pharmacy (4yr full time) starting in September and if I'm successful at interview next week, I hope to also have a place to start Medicine (5yr full time) in September (2015).

I went to private secondary school, my parents scraped the money together to pay for it. I paid for my own education after leaving at 16. I paid for myself to study BSc. in computing over 5 years part-time whilst working full time.

I'm now hoping to start studying again in September. My husband earns 73K per year which means we can pay our mortgage and support our children and pay the bills. Our mortgage is 1k a month, he brings home 4k and our bills are 2k. It doesn't provide spare for the tuition fees and I could really do with a tuition fee loan so that I can start paying back once I'm earning again as opposed to paying back immediately like a normal bank loan. Also the interest rates are lower for student loans. I do not appear to be entitled to any help at all despite not having received any money for any of my education after the age of 11.

Could you advise what companies or government organisations or charities or anything that I could try. I do understand that 73k is a good wage but our outgoings with mortgage etc are 3k a month. That does not leave 9k for tuition fees.

thanks
Fiona

rageagainstessays

fi-bi-ge wrote: »

Hello,
I'm 42, have 2 kids (aged 10 and 6). I have a place on Pharmacy (4yr full time) starting in September and if I'm successful at interview next week, I hope to also have a place to start Medicine (5yr full time) in September (2015).

I went to private secondary school, my parents scraped the money together to pay for it. I paid for my own education after leaving at 16. I paid for myself to study BSc. in computing over 5 years part-time whilst working full time.

I'm now hoping to start studying again in September. My husband earns 73K per year which means we can pay our mortgage and support our children and pay the bills. Our mortgage is 1k a month, he brings home 4k and our bills are 2k. It doesn't provide spare for the tuition fees and I could really do with a tuition fee loan so that I can start paying back once I'm earning again as opposed to paying back immediately like a normal bank loan. Also the interest rates are lower for student loans. I do not appear to be entitled to any help at all despite not having received any money for any of my education after the age of 11.

Could you advise what companies or government organisations or charities or anything that I could try. I do understand that 73k is a good wage but our outgoings with mortgage etc are 3k a month. That does not leave 9k for tuition fees.

thanks
Fiona

With all due respect, you have a degree and a good household income. I think as this is another BSc or MPharm or whatever, I think the only way to pay is to re-mortgage.

Gaz83

fi-bi-ge wrote: »

Hello,
I'm 42, have 2 kids (aged 10 and 6). I have a place on Pharmacy (4yr full time) starting in September and if I'm successful at interview next week, I hope to also have a place to start Medicine (5yr full time) in September (2015).

I went to private secondary school, my parents scraped the money together to pay for it. I paid for my own education after leaving at 16. I paid for myself to study BSc. in computing over 5 years part-time whilst working full time.

I'm now hoping to start studying again in September. My husband earns 73K per year which means we can pay our mortgage and support our children and pay the bills. Our mortgage is 1k a month, he brings home 4k and our bills are 2k. It doesn't provide spare for the tuition fees and I could really do with a tuition fee loan so that I can start paying back once I'm earning again as opposed to paying back immediately like a normal bank loan. Also the interest rates are lower for student loans. I do not appear to be entitled to any help at all despite not having received any money for any of my education after the age of 11.

Could you advise what companies or government organisations or charities or anything that I could try. I do understand that 73k is a good wage but our outgoings with mortgage etc are 3k a month. That does not leave 9k for tuition fees.

thanks
Fiona

Unless my basic arithmetic is way worse than I thought (and I hope not, given I teach mathematics for a living) if he brings home £4k, your mortgage is £1k and your bills are £2k then you have £1k a month spare.

andyfromotley

No as you already have a BSC you don't qualify for student finance. There are charities and bursaries available, but almost without exception they will be income based and you would be ruled out.

Difficult to know what to suggest, perhaps look for part time work to fund say half, at least that makes the shortfall somewhat more manageable? 19-22k sounds a whole heap more palatable than 38-45k. It may make sound sense to borrow for the course in light of potential earnings after graduation but thats pretty risky given the risk of failure, dropout or significant change in life circumstances that may befall you. Contact the universities Lifelong learning dept or similar, see if they have any suggestions.

andyfromotley

Ask for a deferment for a year and work and save like the clappers to get a good proportion of it? (i see labour are hinting at a max 6k fees per year if they get in, so the landscape may change.)

lynz68

I really don't know how you're going to fund this. You don't qualify for student loan as you already have a degree. Really the fact you were privately educated rather than state funded is irrelevant that was your parents choice.

You may well have to defer and either save up that £1000 surplus you have every month or get a job to subsides the cost.


You're braver than I am considering starting medicine at this stage in your life you will be 47 the age I am now when you graduate and then to start working the crazy hours a junior doctor works. Working shifts is not easy and the older you are the harder it gets I work 12hr shifts day and nights working 48hrs a week minimum. Junior doctors can work double that.

redmel1621

I'm sorry but 72k a year and you can't save £9000 a year. You say your bills are 2000 pm Maybe you need to start by reducing your outgoings!!!

You clearly can afford it anyway (despite your ridiculously high outgoings) as you have already said you have £12000 per year SPARE after ALL OUTGOINGS!

jonesMUFCforever

Can you do 2 full time courses at the same time?

thebritishbloke

You hope to have a place on a Pharmacy course AND a Medicine course? I hope you're only planning on doing one.

You need to sort out your outgoings. Your household income is 73k, yet you can't afford to save £9000 a year, your budgeting must be absolutely horrific.

andyfromotley

if you really want advice you could fill an SOA in, follow this link
http://www.stoozing.com/calculator/soa.php

post it on here, and i am pretty certain that the people on here will find you 9k out of your existing budget no problem.

If of course you are just looking for loans or bursaries then i think the previous answers stand, unlikely.