To consider taking out a loan I might not pay back?

[berrygirlie]

So first off, yes I probably am BU (I know) and I'm not seriously considering this because I know it's shitty.

I'm in full time education right now, which just so happens to amount to about 2 days a week 9:30-2pm most of the time. I'm keen to do a 3 month course starting in January that's an evening course and I could juggle both courses easily enough as this shorter course is only on every Tuesday night.

However, the payment upfront is £125 - if I don't pay it, they can't enroll me properly and there's no payment plan scheme. I'm on a very low income at the mo and I could potentially save it if I absolutely scrimped and scraped it together, but it would be very uncomfortable. However a mate of mine is advising to just take out a student loan - with the issue being I'm disabled and there's not a definite guarantee I'll be able to work in the future and may never get to the income where I'd need to pay it back.

Very keen to do the course and have something to focus on given my area is going into Tier 4 lockdown and I'll be bored to tears without enough to do, but it's tricky given I have essentially no disposable income right now (mostly spent on the vitals).

I'm in Scotland and already getting a bursary due to my low income, but this money is really keeping me afloat at the moment. Desperate times and all that. I probably won't do it but interested in opinions.

@Redlocks28 I guess I can always apply for a student loan for this first course and use it to pay for the second one if it's not got enough modules - that's how my mate is funding it as this first course is full time

Do it, thousands of people get their student loans written off each year and many will never repay them.
You are low income and will struggle to get the money together.
Education should be free for all and shouldn't be just for those that can afford it.
Get the loan, if you repay it great if you don't you don't. Do your course, educate yourself and better your future.
Ignore those that say it's wrong, making education accessible for those that can afford it is wrong.

@Ragwort Getting a bursary already, will look at the local council website and see but I'm not sure if they'd give anything else out to me already on my bursary

Nothing wrong with taking a student loan knowing you might not pay it back. However I'm not sure you'd qualify, in England you wouldn't because you're already in full time education and because the course is too short. Check with SAAS that you would be eligible, don't rely on what your friends think they know.

thank you @whyareyoulying. I appreciate it, I'm considering it. It's just so much money to me right now and I don't want to take that money away from anyone else if I can't pay it back

[quote berrygirlie]@Redlocks28 I guess I can always apply for a student loan for this first course and use it to pay for the second one if it's not got enough modules - that's how my mate is funding it as this first course is full time[/quote]
I don’t think it works like that.

Is it one of these courses?

There's no guarantee that any student will pay back their loan. If you hope to be in a position to work at some point then I can't see how your application is any different to any other student. It's honourable for you to think about your ability to repay but the uncertainty should not deter you from applying and presumably additional skills or a qualification will improve your employment chances even if the type of course proves nothing more than you are committed to learning.

Are there any charitable organisations which maybe able to help you?

Good luck

I think there are/will be many people with student loans who will never pay them back. It's the way they're set up. Education can have unexpected benefits though, and this is what the money is there for so I don't think you should feel any shame in taking it. You really never know where it might lead you.

@Redlocks28 Okay so I'm doing an HNC as my main course, so if I tried to get a student loan it would have to be on that one then

I guess I can always apply for a student loan for this first course and use it to pay for the second one if it's not got enough modules

When you apply you have to specify the course you wish to be funded. You can't use it for other purposes.

@Hayeahnobut Yeah so (unless I'm being thick) I could take out a loan on this HNC and use that money to pay for the shorter course. My friend gets the money as a monthly chunk but they don't monitor how she spends it

Go for it, education is about more than job prospects. The course will keep you occupied and improve and mantain your mental health. A private covid test costs more than, it's a small amount of money.

@berrygirlie

thank you *@whyareyoulying*. I appreciate it, I'm considering it. It's just so much money to me right now and I don't want to take that money away from anyone else if I can't pay it back

But you are a person that needs it! It sickens me that education is thought as a privilege and not a right. Creating a vicious cycle of poverty for generations of families. Do it.

The people who are saying YABU have clearly never had a student loan.

The VAST majority of students will never repay their loan. Nobody can possibly see into the future and know if they will be able to pay it back or not. It’s the chance the student loan company takes. You are JUST as entitled to a student loan as anybody else!

What I would say though is:

1. Are you even likely to want to do any more studying one day (e.g. a degree?) You can only ever get a student loan once, but it can cover fees of tens of thousands of pounds. If you might like to do more strudying, I wouldn’t waste the student loan opportunity for such a small amount, wait until you do a more expensive course.

1. £125 is a comparatively small amount of money, compared to thr loams most students take out. It’s not really designed for 3-figure sums. You might be able to find a charity or church or bursary to help you get the £125? Maybe you could even start a crowdfunder? I think there might be ways of raising the money without getting a loan at all...

@whyareyoulying I know but I'm fortunate to be keeping myself afloat (most of the time) and I don't want to keep anything from anyone who absolutely needs this course / the student loan if I can't pay it back.
Worries haha

I really don't think you would qualify for any kind of student loan, OP.

Yes, good idea for getting the loan for your HNC.

@Wandafishcake

The people who are saying YABU have clearly never had a student loan.

The VAST majority of students will never repay their loan. Nobody can possibly see into the future and know if they will be able to pay it back or not. It’s the chance the student loan company takes. You are JUST as entitled to a student loan as anybody else!

What I would say though is:

1. Are you even likely to want to do any more studying one day (e.g. a degree?) You can only ever get a student loan once, but it can cover fees of tens of thousands of pounds. If you might like to do more strudying, I wouldn’t waste the student loan opportunity for such a small amount, wait until you do a more expensive course.

1. £125 is a comparatively small amount of money, compared to thr loams most students take out. It’s not really designed for 3-figure sums. You might be able to find a charity or church or bursary to help you get the £125? Maybe you could even start a crowdfunder? I think there might be ways of raising the money without getting a loan at all...

I'm moving onto a degree hopefully (probably an OU degree as a big daily commute would be a stress for me). Yu can only ever get a student loan once Is this true? I didn't know this.

I've looked up charities and the like in my area, but I'm not seeing anything really

Can you get a tuition loan for a course you have a bursary for to pay the tuition? You might get a maintenance loan

[quote berrygirlie]@Redlocks28 I guess I can always apply for a student loan for this first course and use it to pay for the second one if it's not got enough modules - that's how my mate is funding it as this first course is full time[/quote]
Not sure you can do that. If the loan is for course fees the company usually pay it directly to the college so they will only pay it for the course that qualifies.

[quote berrygirlie]@Redlocks28 Okay so I'm doing an HNC as my main course, so if I tried to get a student loan it would have to be on that one then[/quote]
I think you can apply for tuition fees for an HNC (which would pay your fees directly-you don’t ever ‘see’ that money, but I don’t think you can get a maintenance loan for an HNC.

Have a look at the calculator

www.gov.uk/student-finance-calculator/y

I'm not sure what the best option is - sorry I know I'm chatting about my friend a lot, but she gets a student loan monthly which is paid directly to her and not the college itself. Am I using the wrong terminology? She calls it a student loan

YANBU to consider it.

I decided I was probably never going to pay back my student loan and I graduated in 1999. Managed to defer it every year since and I think it's only another 4 years now until it gets written off for good. Result!

I think you can apply for a student loan more than once for different levels of course. I had one for my degree course and then another for my PGCE course a few years later.

I know a woman who is at university and gets 12000 a year student loans. She freely admits that's the only reason she's at uni, she's definitely not bright enough to be there. She has 3 children, a boyfriend who is on a minimum part time wage but she is always bragging about what she has bought and she's always going abroad.

£125, go for it!