| Product: |
Student Loans Co. |
| Date: |
04/02/02 (69 review reads) |
| Rating: |
 |
Advantages: Survival
Disadvantages: Should we really be forced to borrow money to survive?
I am in my final year of a four year degree, and unfortunately I have had to take out a loan every year.
Although I have taken out so many loans, it is not something I would recommend to anyone who can manage without one. Unfortunately, although my family are very supportive and would have helped me out with money if they could, it was just not possible.
The money I have borrowed has admittedly not all gone on literal survival, I have taken a few holidays abroad and recently bought a car. This is one of the problems found by all students, that when the money is there, you spend it.
If getting a loan really is necessary, I would suggest trying to make the money go as far as you can by investing it in a high interest account until you need it. It would perhaps be better to go for an account to which access is not too straight forward, to discourage you from using it unnecessarily.
The other way to make your loan go further is to supplement the money you borrow with a part time or holiday job. Personally, I took a job in the local spar during term time for a few months. This was, however too much along with the pressure of a law degree, so I decided to stick to summer work.
With regards to summer work, I have found that temping agencies are the way forward. They pay very well, and there always seems to be work available during university holidays. I am with Adecco, who have been absolutely brilliant. The most recent jobs I did were over the summer, and all jobs I took paid more than £5 per hour. The one thing to be aware of with temping agencies is that they are over run with students during holidays. Therefore, sign up early, and just keep on nagging at them to find you a job. If you phone them every day, they'll soon find you something to shut you up!
Without supplementing my loans in this way, I know I wouldn't have enjoyed university half as much, so look into making more money any way you can! Rem
ember the armed forces and many large firms will sponsor you through university if that is the way you want to go.
I do think that loans are a necessary part of student life, but I certainly don't think they should be. One of my friends is a firm believer that students should be able to claim job seekers allowance, which sounds like a very good idea to me, what do you think?
I think that the grant system worked perfectly well, especialy when there were no tuition fees. The government are cutting of thier nose to spite their face by making students pay their own way, as the economy is losing out in the long run as many talented accademics can't afford to go to university, especially those with a family to support. This is such a waste of talent.
I will be atleast twelve thousand pound in debt on finishing my degree. I am doing law and would quite like to become a barrister, but there is no way I could afford to take the risk of borrowing even larger amounts of money to fund myself for the Bar Vocational Course. I will therefore not be going into law when I graduate.
I hope this opinion will help anyone considering taking out a loan. Good luck to you all.
Summary:
|
|
