Student With A Plan

Shoshannah

I think this is just a case of who your parents are.

My parents are poor. They contribute nothing to any of my living costs, although I know they would if they could. I need my student loan to live off, I can't invest it to make a profit. That said, I am careful with my money and have not dipped into my overdraft for 2 years now, and I have a little bit stashed away for emergencies.

There is no question of a job, since my course runs for 48 weeks in every 52 (no long holidays), 12 hour shifts during the week and being on-call at weekends.

I attended a private school - most pupils had their parents pay for their education - but I was on a scolarship so my parents paid nothing. In sixth form we had a 'student finance' talk. What advice did they give me? "Your parents will probably just continue paying your uni costs after they finish paying your school fees, and may invest the student loan instead." Well, thanks a bundle for that useful information, school. :rolleyes:

However, if my parents were paying for me, I would probably do the same as the OP. Whilst a lot of it is down to luck, the remainder is down to good sense. I have a lot of friends at uni whose parents pay for their living costs, and their just blow Daddy's allowance on crap and still manage to get into debt anyway! Nice to see some people being careful with the money entrusted to them.

Nenen

chappers wrote: »

Those that knocked the OP for investing student loans are getting on the back of the wrong person if you think this shouldn't be allowed then it's the government you should be blaming not a savvy young person who is doing the best for himself.
What he is doing is about as MSE as it gets.
As for having fun at uni personally i agree to some extent but think of it this way he will be the sort of driven person who will have his mortgage paid off by his mid thirties and be doing the sort of things that most of us in our sixties will be incapable of doing, when we have paid off our mortgages.

A big slap on the back to you fella!!!

As one of the people who was (admitedly) a little harsh on the OP (I've since edited my post to reflect this) I would like to apologise for the harshness and sarcasm in my first post. The reason for my harshness was not because I disagree with using the student loan in this way... (my argument with student loans is with the government and I don't condemn anyone for manipulating a legal loophole to their advantage) but the thing I found offensive was that this was the Jordan's very first post on MSE and he used it to brag about how clever he was being. Maybe I'm just too 'British' but I do believe that 'pride goes before a fall' and I just wanted to point out that not all students are in his fortunate position with parents who are able to support them... as many others have admitted and Shoshannah posted so eloquently. Jordan seems to lack basic human empathy in his eagerness to boast about how secure his own future will be and admits that he finds it difficult to relate to his peers (which I find sad). I have seen the situation for my own children at university (one graduated last year, one currently in 3rd year and one going next year) and know how hard they (and we) work just to try and stay afloat. They need every penny of their loans and will graduate with huge debts... a situation I find terrible. Not everyone is on the comfortable position of Jordan!

It is a great shame, IMHO, that his university education is not giving him more social contact and empathy with his peers. Perhaps this is another disadvantage of continuing to live at home. It sounds to me as if he will leave university with a great wodge of cash and be able to buy a house but maybe will have far fewer friends. I suppose it depends upon your definition of 'success' as to which you think is most important!

chappers

Fair enough Nenen, I do in some ways agree with you but different people introduce themselves to the boards in different ways.

jordan_2k1

Nenen, well put, and thank you for the taking the time to explain your point of view.

On the note of

a great shame, IMHO, that his university education is not giving him more social contact and empathy with his peers. Perhaps this is another disadvantage of continuing to live at home. It sounds to me as if he will leave university with a great wodge of cash and be able to buy a house but maybe will have far fewer friends

Thankfully ive managed to find a balance of saving my money and living a healthy social life.
I compete in karate almost every month, with a great much of mates there. This summer im heading to greece for a weeks holiday and a months working in the clubbing scene.

pleease dont take that last bit as more boasting.. i just didnt want every1 thinkin of me as a work work work guy lol
i sure as hell know how to play too