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Bursary v maintainance loan
H2003
Posts: 1 Newbie
My daughter hopes to study nursing and will receive a £5000 annual bursary which is a similar amount to the minimum maintainance loan she’d be eligible for. If she can manage off this amount, should she avoid taking out the maintainance loan to reduce her future debt, or would she be financially better taking it still and maybe investing the bursary money?
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Comments
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Will she have a loan for tuition fees or is that provided by the NHS? Will she be able to manage off £5k or will she have other income?
My general thoughts are that if you need to take a relatively large chunk of loan, tuition fees or maintenance, you should take as much as you can get if you aren't going to be a super high earner. The reason is that it will be written off if you don't pay it all back and interest rates mean most won't pay it all back.I'm a Forum Ambassador on the housing, mortgages, student & coronavirus Boards, money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.1
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