This question is really for UK posters. I'm in my 3rd year of uni, but I'm living at home and so my expenses are completely covered by my part time wagecuck (though I'm not really able to save much after expenses). Therefore, I haven't taken out a maintenance loan from student finance for this year.
Am I being autistic by passing up on the loan, or is it better to carry on as I am and avoid having to pay interest on the borrowed amount later? What's getting to me is I kind of want to have that money handy so I have a little headstart when my course finishes, but simultaneously I don't want to increase my debt unnecessarily and have to pay back more later.
It's interest free money that you could and should be making work. Even if you just throw it in a savings account you could be getting 2% interest on money that's not yours
Evan Torres
Are you taking the “student loan” for the tuition fees of £9k a year or do you live in a based country like Scotland?
Isaac Bell
Mate yes you're being autistic by not taking out the loan.
You do not have to pay it back unless you're earning over 21k, and then it's only a small % of whatever you're earning above that 21k minimum. The % increases as your wages increase - so you'd have to be earning decent money to have to be paying off any significant amount.
If you never earn over 21k then you never pay it back.
There's literally no drawbacks to taking out the student loan. I never needed one to live off - had ample savings + work in first 3 years and final year moved back in with parents - but I took it out anyway cos why the fuck not? You'll never get better terms on a loan.
Jayden Bell
This explains everything OP
The likelihood is that you’ll end up in an entry level job and be stuck trying to climb the corporate ladder but won’t be able to because you’re on Veeky Forums and your probably an introverted faggot.
Tl;dr
Unless your going to earn megabucks after you graduate then you’ll probably never pay it back anyway so you might as well just take it.
If you don’t think you reallly need it then just take it and buy Monaco
Rather live in Scotland than dogshit capital of the world England lad
Carson Moore
It's not interest free unfortunately. Whether or not you actually end up paying the interest varies, but it definitely accrues interest and at a higher rate than 2%.
England - dogshit capital unfortunately.
I hope to earn 21k as a fucking minimum to be honest lol. Good points though.
I have high aspirations, but you're probably right desu.
On another note - does anyone consider it an ethical issue considering it's drawing tax money that I might never pay back? Just out of interest.
David Price
well the boomers didn't consider it to be an ethical issue, so why should you?
Nicholas Wright
You won't be paying back the loan because it's a massive debt bubble that will collapse
Robert Price
>does anyone consider it an ethical issue That ship already sailed. Rob them of everything you can and run.
Liam Hernandez
Treat student loans as more of a graduate tax, there are no obligations to pay it unless you're successful. They're raising the repayment threshold to £25k anyway.
Take it all and invest it
Andrew Nguyen
WE WANT INDEPENDENCE! >oh shit it could actually happen? won't we be fucked on our own!? NO WAIT! WE WANT TO STAY! FEED US MUMMY ENGLAND!
Chase Hill
OP again.
Think I'm just gonna go for it. One reason as well is that I kind of want to study postgraduate, so the money will come in handy for any future fees.
Xavier Perez
It is interest free until you earn over 21k per year
Isaiah Gutierrez
Dyor you brainwashed idiot
Isaiah Hernandez
That's why I love bongs. Every third world immigrant making 30k there with some common sense while the natives wagecucking for pennies till death.
Parker Reyes
One drawback is they harass you like the tv licence people.
Tyler Flores
Taking out the maintenance loan would have been a good idea. That with the free £500-1500 student overdraft gives you a lot of money to throw about.
Parker Carter
if you're making 30 grand that's about £90 a month deducted after tax and it scales up quite a bit from there
