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Big fat loan holes
Former Member
Posts: 1,876,323 The Mix Honorary Guru
So, I cant possibly be the only one who has blown pretty much all their student loan already, what has everyone been spending it on!?
I've just bought shit loads of clothes, been out on the razzle a hell of a lot and ive paid for a deposit and 1st months rent on my house for next year!
I've just bought shit loads of clothes, been out on the razzle a hell of a lot and ive paid for a deposit and 1st months rent on my house for next year!
Post edited by JustV on
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It also paid off alot of my overdraft.
What do you think it's meant for?
It's to help a student out in all ways: food, course material, entertainment, clothes.
But in most cases, it all goes on drink.
You pay that after you graduate and not everyone has to pay it, like me.
Ohh okay gosh i'm dumb.
So in three years how much student loan do you get? And that is just to help you along the way with buying books or whatever right?
So then what is the maintenance loan? Ha i should know all this !!
Depends on the person. Someone coming from a rich family will get little and in some cases no money.
From poorer backgrounds you get benefits like not having to pay tuition fees and getting grants as well to help pay for stuff.
I thought that everyone got a student loan and also a maintenance loan?
I've applied for both i think.
No they don't. You can apply for one but you have to get the green light from the loans company first. Not everyone gets it, have to fit a certain economic bracket. I get quite a lot of money cos me ma's on the dole and is separated from my da.
Oh okay there is a basic entitlement for the maintenance loan thought isn't there which is not non-income assessed? That is what i am on about as my parents earn too much for me to have an income assessed one.
I could be talking shit here, but even so what's is the maintenance loan for?
(I am not always this stupid, promise)
Maintenance loan is to pay for materials related to the course in theory, and accomodation if you need it.
Depending on your families circumstances you may get a grant as well which is non-repayable.
But as yerascrote said, the majority goes on drink related purchases!
this loan installment is the biggest amount over the shortest time, you guys have spent it already?
ooh, also, what I said is likely no longer relevant given new uni people have this topup fee stuff to deal with. so ignore me
1. Maintenance Loan. This is for your day to day living expenses, your accomodation etc. It gets paid direct into your bank account and is there for you to do what you like with. This is worth from £3000-£4000 (ish) depending on family income but everyone is entitled to just over £3000.
2. Tuition fee loan. This pays your tuition fees, you never see this one it gets paid straight to your university/college and is worth precisely what your fees are for that year. Your fees will vary depending on your family income and what year you stared uni and which uni you go to and which course you do. Generally this is between £0 and £3070.
That more clear now?
Thank you so what these guys are talking about is the maintenance loan?
Planning on booking a summer trip to Serbia for the Exit festival so it's about to be a whole lot more spent.
I blew £490 tho......fuckin hell.
So im penniless already
that's a lot of money to get for a loan..i only got £1031 this time. and that's more than the last 2 times!
£600 of mine went on rent. the rest won't last long with car tax etc. :grump:
Yeah i scored some special circumstances and extra money due to a long standing medical thing.....advice to anyone applying for student loans: big up anything that could get you more pennies. disability, dyslexia, low income anything, just play the game and apply for anything.
i applied for some fucking scholarship grant thing for students who have faced adversity in their education .... i missed a couple of months of college due to illness....didnt get it but i got considered....
apply for everything!
£65 will go towards the graduation ball. Graduating is expensive.
I've spent £450 since i got the loan on the 16th on clothes, shoes and drink!!! I owed a mate 200, and ive got 750 rent coming out pretty soon... ooops!!!!
last of the big spenders eh.