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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

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

192 replies

berrygirlie · 17/11/2020 18:15

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.

OP posts:
SnackSizeRaisin · 17/11/2020 21:53

I've not paid anything off my student loan in the past 14 years, other than interest. (I have paid towards it through PAYE but not reduced the initial amount owing) I've earned between 20,000 and 35,000 for all those years except one. Most people will never pay off their student loan unless in higher rate tax band. It's not dishonest to apply for one knowing this. Otherwise we'd have no teachers, nurses etc.

AlexaShutUp · 17/11/2020 21:54

I personally wouldn't begrudge an education to a disabled person because they might not earn enough in the future to pay it all back. There are tons of people who don't pay back their loans. What about all the women who become SAHMs or reduce to very part time hours? The OP hasn't said that she won't try to work, she is just being realistic about the prospect that it might not work out.

I think it's fine to take the loan if you need it to finance your education, OP, but I would urge you to get professional advice on the potential implications for any further study that you might want to do, as you don't currently seem to have a good grip on this. Does the place where you're studying right now have a student advice service? If so, please talk to them so that they can explain how the rules work for people in your particular situation.

Original poster
berrygirlie · 17/11/2020 21:55

Hiya @MintCassis that definitely looks promising and I managed to find the course I want on there, which is a good shout (mentioned this a wee bit earlier). There's just the issue of applying and waiting for the money before the course closes it's application, as unfortunately they don't hold your place unless you pay upfront

OP posts:
HollowTalk · 17/11/2020 21:58

This wouldn't be given under the rules of the ordinary student loan and it's unlikely you'd be eligible under the loans offered eg for Masters programmes.

Can you afford to pay £12.50 per week? If you are, then I would ask the college whether you could pay that way. I know colleges will try to make it possible, but you'd have to pay it back before the course finished.

FundamentallyFucked · 17/11/2020 22:01

This wouldn't be given under the rules of the ordinary student loan

Yes it would. OP is doing an HNC so 100% qualifies for a student loan.

Littleposh · 17/11/2020 22:05

Find free courses?? Find something else to occupy yourself.
Why do you think it is acceptable to steal??

Sloelydoesit · 17/11/2020 22:08

I would advise to do whatever you can to better your situation. For now and for the future.
I went to uni in the 90's - I took out a student loan. Compared to the loans today it's a relatively small amount however my loan got sold and sold again to the point where I don't even know where it is anymore. I've not paid it back but my tax and NI each month is huge and I haven't needed to claim benefits. More importantly I'm happy working and fully independent. Certainly not asset rich!
So, borrow what you need to borrow. And good luck on your new venture

MintCassis · 17/11/2020 22:09

Like PPs have suggested, get in touch with Student Support or the finance team. They’re there to help and if they can set up an installment plan or put a delay on your fee payment they will try to find a way to help. Good luck!

titchy · 17/11/2020 22:09

@Littleposh

Find free courses?? Find something else to occupy yourself. Why do you think it is acceptable to steal??
And the prize for thickest, nastiest, and plain old ill-informed post goes to...

Seriously - how is it stealing if she is entitled to it?

Original poster
berrygirlie · 17/11/2020 22:14

Hahahahaha. If I ever get the capacity to write a quote or an acceptance letter down the line in my academic career I'll just quote;

"Why do you think it is acceptable to steal?? You need to suck it up. You're a pretend fraudster"

(As these are some pure gems of this thread 😂) thanks @Littleposh, @howtobe and @tessiot many blessings to you too👌

OP posts:
FundamentallyFucked · 17/11/2020 22:17

@Littleposh

Find free courses?? Find something else to occupy yourself. Why do you think it is acceptable to steal??
Can you explain where the theft element comes into this
Littleposh · 17/11/2020 22:18

In that case, it's surely not a loan you are refusing to pay back?? Make your mind up!!

Original poster
berrygirlie · 17/11/2020 22:20

I'm not "refusing" to pay anything back, @Littleposh. I've every hope I can pay it back. What are you talking about?

OP posts:
Sunflower20001 · 17/11/2020 22:23

A student loan for £125?
Have you not got family you can ask for the loan instead?

Littleposh · 17/11/2020 22:23

@berrygirlie

The title of your thread . . .

"AIBU to consider taking out a loan I might not pay back"

Original poster
berrygirlie · 17/11/2020 22:25

@Sunflower20001 I don't have any family, unfortunately.

@Littleposh "Might" is the operative word in that sentence. "I might not pay it back" does not have the same meaning as "I refuse to pay it back".

OP posts:
Sunflower20001 · 17/11/2020 22:29

I did a 3 year nursing degree, worked my ass off doing weekend work to help fund it.
No payment for working placements either... So working for free on busyy wards.. I took out minimal loans, and I'm still paying what I did take out now... Every month.
And on top of that having to pay 120 quid a year just to be a nurse on the register too!

I'm not sure taking out a student loan for just £125, is either reasonable or Moral tbh.

Original poster
berrygirlie · 17/11/2020 22:30

@Sunflower20001 What do you suggest I do?

OP posts:
TeeniefaeTroon · 17/11/2020 22:31

A few years ago I claimed ILA (Scotland) which gave me up to £200 a year towards college courses. I used it to get some computer qualifications. I've just googled and it's been replaced by this. Would this help you?

www.myworldofwork.co.uk/learn-and-train/sds-individual-training-accounts-ita

Littleposh · 17/11/2020 22:31

In that case, if you do not pay back a loan you have taken out then yes, you are being unreasonable.

Bear in mind that it's the same as people not having insurance etc, everyone that does pay for it has to pay for those that don't in the end up. It's not fair on your fellow citizens to carry that cost

PizzaForOne · 17/11/2020 22:35

Go for it. Take out the max student loan available to you if you think it will make your life easier rather than just scrimping by

You may not end up paying anything back, you may pay some, you may pay it all. Can't be sure for certain.

TeeniefaeTroon · 17/11/2020 22:35

Ah, just realised that you can't already be in education to use it 😢.

titchy · 17/11/2020 22:38

@Littleposh

In that case, if you do not pay back a loan you have taken out then yes, you are being unreasonable.

Bear in mind that it's the same as people not having insurance etc, everyone that does pay for it has to pay for those that don't in the end up. It's not fair on your fellow citizens to carry that cost

What re you on about - her fellow citizens would be paying the cost anyway. Regardless of whether OP took out a loan or not. That's how higher education loans work. Perhaps you should read a little bit about it. Or do a course in public policy. Maybe even a degree. You could get a loan.
Original poster
berrygirlie · 17/11/2020 22:39

Thank you @teeniefaetroon it's been mentioned a bit upthread and it's definitely on the cards! I just need to see what application might go through the fastest, I'll probably start on it tomorrow if that's the route I decide to go down.

@Littleposh Bear in mind that it's the same as people not having insurance etc, everyone that does pay for it has to pay for those that don't in the end up. It's not fair on your fellow citizens to carry that cost

Er, if not being able to pay back £125 had anywhere near the financial and emotional impacts of a car crash maybe I'd see your point. However, I'm fortunate and grateful to live in a country where education is valued and I think £125 is probably a lot lower than the average cost of student loans in Scotland.

OP posts:
titchy · 17/11/2020 22:39

You do understand the majority of students won't be paying back their loans? @Littleposh