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Student Loan Query - Living at Home in Scotland
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My daughter will be starting university this autumn and plans to live at home whilst studying. We live in Scotland so tuition is free and given our parental income, my daughter can borrow upto £5,100 a year. We won't be charging her for rent, food etc. but she has a part time job and bus travel is free upto 22 years of age here. The loan would be repaid once she earns over £25k and the current rate is 1.5% from what I read.
Given her outgoings are mainly covered (holidays with friends, nights out etc would come out of her earnings) would there be a benefit to taking a loan. I'm thinking that any that is unused (which should be most) could be invested for example to go towards a deposit for a house etc. Wondering if anyone else has been in a similar situation? Thanks
Given her outgoings are mainly covered (holidays with friends, nights out etc would come out of her earnings) would there be a benefit to taking a loan. I'm thinking that any that is unused (which should be most) could be invested for example to go towards a deposit for a house etc. Wondering if anyone else has been in a similar situation? Thanks
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