Get one (Student Loans Co.)

Member Name: bailey_kipper_uk

Product:	Student Loans Co.
Date:	29/09/01 (224 review reads)
Rating:

Advantages: Free money, Make money whilst at Uni!

Disadvantages: You do have to pay it back, Don't get carried away and spend it all at once.

I know the majority of students these days are poor and have very little help from their parents.

When you come to University you will have already had 2 years in which to have earnt money by working. Do it. Save it. When you come to University you can get a job in the first year and it will not affect your studies as long as you don't do too many hours.

Also get a loan as soon as possible, even if you don't need to. A number of people come to Uni and say 'I don't need a loan my parents will support me'. So! if you have no financial problems then get a loan and have even less by making more money out of the government. A chance you will never have again.

At about 2.5% Interest rate it is almost free. Take the money and put it into an ISA or a longer term account if you don't need it. All the time it is in there you will earn interest on it.

Don't be tempted to get a credit card as you will be paying about 8-10% even with a student acc. If you really need to then get an overdraft with your bank and any others that are willing to give you it. £1250 you can get interest free with most banks. Again even if you don't need it get it anyway and put it into a high interest acc to make money out of your bank, it's the only chance you'll ever get.

Of course not everyone can afford not to spend their loan but don't fret because when you graduate you should be able to earn about 16-20k a year (All my friends who recently graduated have all been offered 16k minimum) and you will only be paying about £150 a month back on your loan. Which is nothing when you're earning over £1000 a month.

Again any spare money don't just spend it, put it into an account and make money. When your older you will realise why you did this as you will be able to pay off your mortgage quicker and easier and you will have more spare cash to play with rather than most people who s
pend their whole life in debt due to a poorly managed youth.

I know it sounds boring but you don't need to spend £100 a night to have a good time.

Whilst at Uni there are so many clubs to join that hardly charge a thing. Do them and you will find that you will save so much money that you will be surprised why you even worried about your finances.

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