University Loan

[Ritasdaughter1969]

Hi, I have a daughter who is due to go uni next year, this is all new to me so I am looking for some advice. I am divorced from her father and now live with a new partner. Our household income is such that she will only get the bare minimum in student loans where as if she registered at her father's she would get the full amount. We have joint custody so she can use either address, I think.

My question is would you let her apply using her dad's address meaning she would have more to pay back later (she is hoping to go into teaching so would end up paying it back) or apply from our address and help her out so she has less to pay back?

Any points of view would be very welcome.

More to pay back and put any helping out money aside to help with a house deposit in the future 🙂

She certainly won’t pay it all back if she got dc into teaching as things stand. Unless she gets very quick promotion and never works part time. She would almost certainly pay £0 for her NQT year and very little after that. Where are you getting your figures from? My DD pays loads but she earns 3/4 times a NAT does.

Basically get the biggest loan you can. It’s a grad tax. It’s not a bank loan. Look at money saving expert for better info on how repayments work.

goes into teaching.....

Thanks both. I've watched the Martin Lewis talk on the subject and it makes things clear (for us oldies that didn't have to go through this and avoid loans like the plague).

As you point out if she teaches she would end up paying nothing like the full "loan" back, even going into lecturing (which is really where she is aiming) she wouldn't.

Thanks again

Let her take more money, I’m earning just over the threshold for plan 2 loans and it’s the equivalent of £50ish a month. You get used to it, it’s only when you earn a lot more that it’s very noticeable