Discussion in 'General Discussion' started by Elliot6267, 9 Apr 2010.
happy student loan day to all who receive it =D
now... what random crap should i buy?
nothing, stick it in an ISA if you don't need it for essentials and a bit of fun, the amounts taken out your pay packet are not small, once you start earning a decent wage.
Don't blow it on crap...
This. I pay £150 a month
course stuff? what course do you do?
Dohn't do what a friend of mine did, blow the entire lot on a guitar, it was a ruddy nice guitar....but the rest of the term, he had pretty much nothing to eat, couldn't go out, and generally screwed himself over, but it was such a nice guitar
Obligatory grumble about mooching students.
Seriously though, I'd save it. Save for the expensive tomorrow you can afford today as opposed to spooging it all on guff you'll only end up selling to buy Pot Noodles with anyway.
haha wow, voices of reason. i like it.
i don't need any course materials because i finish in a month (yay!)
i might put it towards a stint of travelling.
i very almost blew the 1st one this year on a guitar, but a friend managed to make me see sense... i do wish i had it though hehe
As someone who was in the same position a few years ago - don't spend it unless you really need it. I get a pretty hefty amount taken off my wages each month because I spent nearly my entire student loan on *****!
How much do they give out these days?
i thought the idea was that they take balls all off you... =/ this makes me sad.
geting just over a thousand bean
Depends how much you earn.
major league disapointment
The take something like 9% of your earnings over 15k.
The biggest kicker is they take it out of your bonuses as well.
Does that seem unfair? Seems ok to me.
How do people actually have money left from their student loans...
Mine pays (well will when I get round to going) for the cheapest accomodation I can find (£88 a week) and nothing else
Considering I've had to lend a sibiling money twice in the past month because they spend their student loan payments on stuff that they don't actually need, I think you should save it until you need something or are in the position to pay it off.
because that contributes to your earnings over 15k... why wouldnt they?
You need it for your essays
This man speaks the truth!
Although wouldnt that be about 1.5 years worth of SL payment?
That's not the point I'm making. I'm fully aware of the terms of student loans and I'm happy with them. I'm just trying to emphasize that it's not free money you are given like the attitude of many implies (i.e. the OP), there are numerous drawbacks compared to a traditional loan (fixed repayment) in the sense that the more you earn the more you pay and thus this is reflected in bonuses.
As suggested, don't blow it on crap or stuff that you don't need - you will regret it later on when you really need the money for something more important.
A friend of mine blew it all on crap and had very little money left for food and ended up in debt with his bank, this was 2 years ago and he's still paying it off now!
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