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Saturday, 28 May 2011

Quick bit O'Debt

I was going to do a post about stuff that's just happened (will do this later) but just wanted to say that I have just completed my student finance loan applications. This is where i get two types of loan from the government to pay for some of my uni fee's: like the cost of my course and some of my living expenses.

Anyway, once i get my results in August and am accepted at a Uni, i will have a LOT of money ... or a LOT of debt ... depending on how you see it. It will be £6939 or about $11462.



Anonymous said...

It truly is Jack. But, if the UK is anything like the US, your earning potential with a degree from uni is far, far greater than without, even in this miserable economy. The filling out of the forms, and looking at those HUGE numbers is quite a shock though! I do understand!

To put it in perspective, I listened to a friend here moan and groan that a very exclusive private (no tax money) uni had only offered his (self-described) brilliant son only $160,000 in loans over 4 years. Can you imagine that?!?!?! Oh, and that didn't cover all the expenses!

Peace <3

Wayne said...

The thing to remember is to live frugally for the first 5 years after graduating until your wages improve and your loans are paid down as quickly as possible. Try and get by with the minimum in student loans. bfn - Wayne :)

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