Finally Debt Free After 34 Years, But Still Need to Live Frugally

elizabethhull wrote: »

I went to uni when they still had grants, and even though I was married for my final year, my father was still responsible for making up the grant. Based on his salary, I received minimum grant, whereas if it had been based on hubby's it would have been a full grant. Seemed very strange to be still beholden to parents.

My girls, due to differing salaries, both finish repaying their loans this year. One is 31 and the other 36. SIL, thanks to being out of work a lot or low income, has never repaid any !

Both girls thoroughly enjoyed uni, as did I. But a lot of students now are having to factor into their pay the student loan, hopefully some pension contributions, attempting to save the deposit for a house, not to mention all the pressures to have the latest gizmos that can make you feel a real loser if you have none. These pressures did not exist in the 60's, along with must-have trainers etc etc. You need to be made of strong stuff to resist the lot and go your own economical way, not get into horrendous debt and try to be happy with less.

I brought my girls up to love charity shops, think George at Asda is a wonderful clothing shop, cook from scratch, and, of more recent years, to relish what you can acquire via Freegle. Like me, they're quite independent thinkers, but I don't criticise those who like to fit in, it's a normal part of human nature, and being 'odd' can be isolating.

To be honest, I'm just glad I'm not young now - it's really difficult in so many ways.

Hillwalker11 wrote: »

My two sons both went to Uni ,both doing very long degrees one did Medicine and the other Architecture. Both were 6 year courses and for both during term time they had no time to do any sort of employment. Both worked in the holidays and luckily they avoided the £9000 fees. It was a tough time financially for the whole family, we paid the fees and the accommodation, so in reality their loan was for them to live on. Neither had a credit card and managed not to use their overdraft very much.However with only a 2 year age difference for 4 years they were both at Uni! Bad planning there! We certainly couldn't have afforded to pay £9,000 a year fees, which for 4 years would have been £18,000 per annum. Absolute madness.
Their loans are close to finishing, the eldest lives in Hong Kong and the student loan is paid back at a set figure monthly. The other who is now a doctor got a shock, as when he covered locum shifts and his pay was sometimes double his normal his loan repayment shot up.
The only way to look at it is that it is viewed as a graduate tax. They have both bought houses and although mortgage providers ask for the outstanding amount it is not used in any calculations for the mortgage.
I really feel for students and families struggling through Uni now with the excessively high fees. Leaving with a debt of £10,000 to £20,000 is bad enough but today's students leave with debts in excess of £50,000.
What is more galling is that all the politicians that decide on these fees all went through University for free. So unfair.

Seasidegal58 wrote: »

So many interesting posts on the university issue -lots of food for thought here.

Hope your Saturday saunter has gone well today Hairy and you've found some good books in the charity shop!

redofromstart wrote: »

Sounds like you had a lovely birthday weekend - many happy returns to you.

carbootcrazy wrote: »

It sounds like a lovely weekend, HH. You say you've probably had your fill of rich food but here's a belated slice of birthday cake:bdaycake: and a cider or two:beer:


The silver jewellery sounds lovely. I love silver:T. I saw some really nice silver and turquoise earrings recently but had spent so much on getting organised for my brother's funeral that they seemed like an extravagance at the time. I didn't intend to wear them for that occasion anyway so I thought it best to keep my purse clamped shut. They were surprisingly inexpensive for the quality and I promised myself that I'd go back and buy them this week if the coins in my loose-change money tin went most of the way to paying for them. I'd been dropping small change into that money box for months, it was so heavy. There were a lot of coppers in it:rotfl: but enough silver coins to be a pleasant surprise:j


I popped into the shop this morning after a Morrisons trip but the earrings had been sold:(. Disappointing but probably all for the best as they were definitely a want rather than a need. By the way, I didn't lug the coins with me:rotfl:, I didn't intend to pay with them. They've been bagged up and paid into the bank.