Being a guarantor for rent - how risky is this?

EssexHebridean

newsgroupmonkey_ said:

Just as an aside, people may not realise that PhDs aren't like regular students.
There's usually a stipend (like a salary, but it's tax free) attached and guaranteed.

So the likelihood of her sister not paying her rent is highly unlikely.

Unless something completely unforeseen was to occur which would lead to her having to abandon her studies - at which stage, the bill falls to the OP to settle, and they are not going to be able to do that. 

newsgroupmonkey_

silvercar said:

newsgroupmonkey_ said:

Just as an aside, people may not realise that PhDs aren't like regular students.
There's usually a stipend (like a salary, but it's tax free) attached and guaranteed.

So the likelihood of her sister not paying her rent is highly unlikely.

But is it enough to live on? Usually it would require some part time work eg lecturing / marking/ tutoring alongside in order to make ends meet. Also PhD’s can often take longer than the funded 3 years.

"The average stipend for a PhD student in the UK is at least £19,237 per year". Normally more in London.
So more than the average wage when you take into account that it's Tax and NI free.

Don't think of it as a grant. It really isn't like that. And they normally last 3.5 years, although if you finish on time, it stops immediately.

Jami74

Cannotrememberusername said:

My sister is doing her PhD at the moment, and is looking for a flat. She needs a guarantor, but I’m very concerned with regards to the risks on me.

I suppose it depends how much you trust your sister. I wouldn't not be a guarantor for my sibling as they have a track record for money problems. I would for my parent because I know their rent is treated as a priority and they would never not pay.