Medicine 2026 Part 3

[MyGreyBiscuit]

Hi everyone, here's the new thread!

Oh and they refuse to use RPI for pay rises as it 'artificially inflates interest rates'. Mmmm

definitely not what was agreed. It's hideous, and on top of that the lack of jobs? What's that about - most people I speak to can't believe it... (and people from overseas even more incredulous).

@MyGreyBiscuit it's about money. GMC been making a fortune from PLAB, companies making a fortune convincing IMGs to come here (who are then often exploited into different jobs they signed up for) and it's easier to 'control' people who require a visa to stay. There are enough jobs for UKGs but the backlog will take years to clear.
I'm v grateful that my DD got into training first time and is in a run through 7 year programme. So many of her friends are struggling to even get work. Again, not what they signed up for !

Thanks for starting this topic... I'm so conflicted on this and have no idea yeat what we are going to do. I'm divorced and that adds to the complexity of it all. At the moment her father and I loosely agreed for DD to maybe take the tuition loan, but not the maintenance loan (which would be minimum level anyway...). Then support her with everything else. Everyone is telling me that doesn't make sense and DD is better off taking both and we give her money later on for a house deposit OR we pay off her loan early. I need to spend some time on this...

One question though: assuming our YPs start in September 2026, will they be on plan 5? Meaning interest rate is RPI only, right? So something like 3.2% currently?

Yes, plan 5 this year so 'just' RPI. From day 1 of loan. You'll still not start paying off the capital until earn about £50,000 I believe.
We had no choice but get them to take loans. I'm a teacher and 2 of them at Uni at the same time was more than my annual gross salary !

Don't think about paying off early ! You'll be paying interest from day 1 so will be an expensive thing to do if can pay in advance.

Thanks! I sympathise... I find student loans appalling. I grew up in Europe and paid 0 in tuition fees for about 18 years of schooling from primary to post grad...

Would this make sense, financially?

• DD takes both the tuition and maintenance loan. She only qualifies for minimum maintenance loan, which is a little under £5K outside of London, a bit more in London.
• DD opens a Lifetime ISA when she turns 18, and adds £4K per year. Basically most of her maintenance loan goes into a LISA, but the govt will add £1K to this each year. That way she'll have a house deposit when she is ready to buy, after her med school & training years are over.
• We support her while at uni with all living costs incl accomodation.

Obviously we would need to be flexible if something happens e.g. her dad or I lose jobs etc.

Was free when I went to Uni. In fact they gave us a grant ! I'd not have been able to go otherwise. It's going back to being the preserve of the wealthy. 😡

Friends of ours did that for their child in their first year (not medic but potentially just as long)… so the child took the tuition loan, and then father paid for accoms (roughly £5k) and mother gave weekly allowance which worked out to similar - so as a family they forked out £10k. The following year, the child took both loans.

We were thinking of doing that, but my accountant said not to do that. Let’s just say we had a robust conversation and essentially unless we as a family can afford to do that for both kids over the next 8 years (with an overlap of both going for 3 years in a couple of years) and not be forced into beans/toast for the next decade, then we should take both loans (even the maintenance loan at its lowest, which will be us as well).

Thanks for the input, we are all thinking the same things really it seems. @catty29 it would be interesting to know what your financial adviser says. @MyGreyBiscuit thanks for the info from your advice too, I was sort of thinking along those lines but have this underlying worry of the loan rising out of control so quickly because interest in accrued immediately that I was thinking of avoiding taking some /all of it at all. We are not wealthy by any means, DD2 is our youngest and we could afford to fund her with careful planning I'm just not sure if it is wise.

I like the idea @inae had too. Seems like more thought and planning needs to be done here but I really appreciate everyone's opinions on this.

@mumsneedwine I completely sympathise with your DD, being a fellow plan 2 holder myself. I am hoping some amendments might be made following this latest media coverage to bring more fairness to plan 2. I am going to sit down with DD to explain how it all works and what she has to expect to repay and for how long but really, if she wants to be a doctor she doesn't have a lot choice to take it or not.

Thanks for starting this important discussion @bluefineliner My dd has 2 interviews this week - Southampton and Lancaster - so I feel like I don’t gave much capacity for all this stuff - but it’s looming 🤯

That looks like a clever plan @inae if you can afford it. So a guaranteed 25 percent return - hard to see a downside?

I think the LISA is definitely a no-brainer. You have a max of £4k to put in - you can open one with £1 - with the 25% return.

Good luck to your YPs @PurryGrowls and @MyGreyBiscuit I think both have interviews this week?

DD is doing week 1 of mocks. Those student loans can wait 😁

Oh, I know. The question is affordability :) and DD can only make use of it if she gets the tuition loan + min maintenance loan, but we pay her accomodation, food, and everything really. I think it's still worth it though.

Thanks so much @inae for remembering! Yes, QM tomorrow, online. Then half term which will be spent studying for mocks…!!

Southampton today - fun times with a last-minute train issue (severe delays due to an earlier train breaking down) - which meant I had to drive… appalling rainy conditions and time stress! But seemed to go ok…

Good luck for QM tomorrow @MyGreyBiscuit and anyone else still interviewing!

@PurryGrowls I hope it went well, so incredibly rainy - i studied at Southampton many moons ago and had the absolute best time, I do remember my poor parents taking me to visit with horizontal torrential rain which was not a reflection of the amazing sunny days I had as a student.

Good luck @MyGreyBiscuit for tomorrow, final push, it does feel never ending.

DD got an Exeter offer tonight which we are absolutely over the moon about! I saw on Reddit some offers coming out hours before and she had nothing, assume in batches over next 24 hours - definitely adds to the anxiety/ insane email checking knowing offers are happening and playing the waiting game. Thrilled to bits for her though.

Big congrats to your DD @Peanuts79 ! Is this her first offer? Such a relief to have something concrete in place.

@Peanuts79 congratulations on the Exeter offer! What a huge relief if it is her first one, well done.

@MyGreyBiscuit good luck for QM today, fingers crossed for your DS.

@PurryGrowls glad Southampton went well sounds a stressful journey, I have been very lazy and got DH to drive to all of DDs interviews so far whilst I have been emotional support crew providing travel sweets and drinks 😂.

Dd gets her mock results today so hoping they reflect the effort she put in.

Good luck to anyone else having interviews this week.

Thank you so much @PurryGrowls and @bluefineliner - first offer and such a relief.

I so hope mock results are what DD is hoping for and like you say reflect the effort.

Good luck to anyone else still with interviews.

Ah thanks @PurryGrowls , @Peanuts79 and @bluefineliner ! And well done on getting the offer!

Fingers crossed it goes ok… we happen to all be home today, so hopefully not too distracting.

Twice we’ve been to Southampton and twice it’s been horizontal rain… !

DD got her mock results A star (bio), A star (psych), A (chem). Very happy and on track for her 3 As needed hopefully!

Congrats @Peanuts79, that must be such a relief and joy! DD is still on hold with Exeter and I'm trying not to read anything into it. (It's damn hard!) DD is not checking forums, luckily.

@bluefineliner that's impressive given everything else going on!

All done! He's now doing a driving lesson! I guess it's chill time/revision time for the next couple of weeks...

How did it go?

Driving lesson now, and revision, it’s never ending is it.
Thankfully my son got through his driving test in December so just head down for AH starting in April.