post grad loan or not

ard123en

I've just completed a degree with the open uni and considering a masters part time over 2 years

I could pay the £6k fee myself over the 2 years as have small outgoings but wondering if personally id be better taking the 10k loan

I'm 50 and earn in the region of £25 k so am I correct in thinking if my wages never go up ill only ever pay them about £19 a month so over the 15 years to retirement from 52 that will be less than £4k back paid back :eek:

If that is so happy days Ill take the loan and leave my money in the bank

WibblyGirly

Yes, it's only once you earn £25k that you start paying back the loan. I'd take the loan, its always better than paying that money yourself. You could end up not working at all soon after the course for whatever reason and then you wouldn't pay any of it back.