student loans

[miss behavin]

Im filling in forms to apply for a student loan, the thing is, I don't know how much laon I shoudl apply for. I intend to live at home and fees are around £1000. Ne 1 know any sort of figures for students living at home?

thanks

[Kath2003]

Not much, probably not much over £1000.

[lucifer devil]

Originally posted by Kath2003
Not much, probably not much over £1000.

I'd say more than that, she needs to live - plus there will presumably be transport costs.

[Docter Lurve]

Also what banks to people find the best and what goo deals have people got?

[Kath2003]

Originally posted by lucifer devil
I'd say more than that, she needs to live - plus there will presumably be transport costs.

She's not paying accommodation or food. My student loan £3000 barely covers my £2850 SELF-CATERED accommodation. I have to find enough money for food, transport, and fees (£1125) a year on top of that. So she shouldn't get much more than £1000 MAX.

[lucifer devil]

Originally posted by Docter Lurve
Also what banks to people find the best and what goo deals have people got?

a lot of people i know seem to be with hsbc, however i'll be sticking with rbs.

[Henny]

Well there are different kinds of financial help you can get, you should have been given some sort of guide to help you fill it in.

For the basic student loan everyone is entitled to 75% of the maximum, the other 25% is dependant on you or your parents income. If you're living at home you will be entitled to a maximum of 3240 pounds which means you will be entitled to a minimum of 2430.

There are also two other things that could help you:

Help towards tuition fees:
If your parents earn less than 21,475 you wont have to pay anything
If they earn Between 21475 and 31972 then you will have to pay some
If you earn over 31973 then you will have to pay the full 1100

Higher Education grant
If your parents earn less than 15200 you get a 1k grant, its then a sliding scale until 21185, if your parents get more than that you get nothing :)

[budda]

Even if you plan to do nothing with the loan and are rich I would take it out anyway and invest it. The interest rate on student loans is stupidly low, some months its lower than inflation, you make money by lending it from them.

[girl with sharp teeth]

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[BumbleBee]

Originally posted by girl with sharp teeth
She may well have to pay towards her food and rent, you don't know that. I would never dream of not giving my parents something towards keeping me, if I ever had to move back in with them.

Oooh, same here!

[Kath2003]

*shrugs* if I was a student, my parents wouldn't expect me to pay rent.

The cut off points for help with fees are in my opinion far too low - we have to pay full fees for both me and my sister PLUS we need money for food on top of our loan.

[dominatrix]

I'm living at home and I get over £3000 a year. I don't pay any rent or anything either :) Although now I've already filled my 2nd year application in saying I'm living at home and now I'm moving out...hmmm.

[littlemissy]

Originally posted by lucifer devil
a lot of people i know seem to be with hsbc, however i'll be sticking with rbs.

i like the RBS. i am with them and they seem to be really good :)

[Kermit]

When you apply to the Student Loans Company, request the maximum amount of loan that you can. If there is a surplus at the end of the year you can invest the money, and make a profit on the interest differential.

The best student bank account I have found is with NatWest, part of the Royal Bank of Scotland Group.