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Plan 5 Student Loan Help
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yogisarah
Posts: 3 Newbie
Starting uni this Sept 2024, on an Occupational Therapy degree course which gives a bursary of £5,000. I need a student loan for fees, (£9,250) but not sure whether to take one for maintenance and invest it in a LISA, and use the bursary and help from my parents for living. Or just take the loan for the fees. Starting salary as an OT is around £28k, rising to approximately £40 for senior OT. On plan 5 I know I will be paying back my loan for 40 years, or may pay it off sooner if I take a lower loan. Any advice appreciated. It's making my head hurt 
Thank you
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Comments
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The maintenance loan is 'soft' and so owing that money will not do you much harm. And you or your family may need extra money at particular points during your course, or when you need to find somewhere to live to start your first job.
In short, I suggest that you take every penny that is on offer.
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