Moral and Financial dilemma

amarrly

Shall i take out a student loan if i have savings that could cover the degree i am taking. I'm 39 years old and need/want to leave my unfulfilling job to pursue a passion i should of long ago in computer science. Martin wrote a blog/post saying you should take the loan and stick the savings in a high interest earning pot, due to life.. but i'm guessing this only applied to some one in there twenties and i'm already half way through a normal working life, well if they don't increase it to eighty!.

Also is this morally wrong to hedge your bets on yourself, if for some reason i cant pay of the student loans in the future due to ill health or something, at least my loved ones would have the savings and any interest accrued.

[Deleted User]

Take the loan and stash your cash, although with base rates at 0.25% don't expect a great return on savings. Remember you won't start paying the loan back until you earn 21k

DCFC79

I take it day to day finances are covered, go and do the degree and have fun.

Mojisola

amarrly wrote: »

Shall i take out a student loan if i have savings that could cover the degree i am taking.

Also is this morally wrong to hedge your bets on yourself, if for some reason i cant pay of the student loans in the future due to ill health or something, at least my loved ones would have the savings and any interest accrued.

Most people won't pay off their student loans so you will be part of the majority.

Martin always advises to take out the loan to live off and keep your capital safe.

takman

venison wrote: »

Take the loan and stash your cash, although with base rates at 0.25% don't expect a great return on savings. Remember you won't start paying the loan back until you earn 21k

You obviously haven't been reading any of the threads in the savings part of this forum!. There are plenty of accounts offering interest of 3 - 6% interest on limited amounts!.