Random Student Loan Purchases Thread.

Shayper

Shayper

Shayper

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So, I'm sure there are many, like me, who upon seeing that their student loans have come in pressed the buy button on a purchase that has nothing to do with university.

Post them here :)

I'll start it off. Just bought a Numark Mixtrack Pro.


(I need it for my set at the o2 in June. Honest. )
 
Never understood the mentality of saddling yourself with a student loan when you clearly don't need it to actually pay for uni :p
 
Kenai said:
Never understood the mentality of saddling yourself with a student loan when you clearly don't need it to actually pay for uni :p
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Mainly because it's essentially an interest free loan (note the word essentially) even if you don't need the money, you can take it out, put it into an ISA and easily make a fair bit of profit.
 
in my 1st year with the Jan loan i bought a new mixer; still got it today (6 years on)

aside from that, i think i bought a 4870 with one too, aside from that, it just went on booze ;)
 
lukeharvest said:
Mainly because it's essentially an interest free loan (note the word essentially) even if you don't need the money, you can take it out, put it into an ISA and easily make a fair bit of profit.
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Putting it all into an ISA is fair enough (even if none of the people I know who started out doing that actually finished uni still doing so :p) but just spending it on toys seems frivolous IMO.
 
I've been looking at my finances for next year, and it looks like I'll be spending all the maintenance loan on... well, food really. Not much else for extravagant purchases.
How do you guys manage it? Do you have parents that help you out?
 
tres said:
I've been looking at my finances for next year, and it looks like I'll be spending all the maintenance loan on... well, food really. Not much else for extravagant purchases.
How do you guys manage it? Do you have parents that help you out?
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Only can really do it in the third term, as I only have to pay 2 months worth of rent. It's basically the term of WOO EXTRA MONIEZ! And 4 exams.
 
remember many moons ago (nigh on 15 years) spending my student loan on a deposit for a shiny new punto GT Turbo :)
 
Kenai said:
Putting it all into an ISA is fair enough (even if none of the people I know who started out doing that actually finished uni still doing so :p) but just spending it on toys seems frivolous IMO.
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I agree to an extent. I don't invest in an ISA, but shares (just because the fixed tiny %age increases are pointless really) and if you can afford to do so I wouldn't really call it frivolous, even to spend on toys. However, seeing as the vast majority of students struggle to make ends meet, it is frivolous to spend lots on hardware if you can't even afford to feed yourself.

tres said:
I've been looking at my finances for next year, and it looks like I'll be spending all the maintenance loan on... well, food really. Not much else for extravagant purchases.
How do you guys manage it? Do you have parents that help you out?
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It depends, most of my friends have to seriously budget, or have their parents help them out.
 
Kenai said:
Never understood the mentality of saddling yourself with a student loan when you clearly don't need it to actually pay for uni :p
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Well I will certainly need it, one of my parents has recently been made redundant and was the main income earner and also I have a sibling at university already and because student finance is done on last years earning I'm completely ****** :(

I will only get £3575 and the accommodation is £5k.
 
flibbage0 said:
Well I will certainly need it, one of my parents has recently been made redundant and was the main income earner and also I have a sibling at university already and because student finance is done on last years earning I'm completely ****** :(
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Actually, if your parents' income has significantly changed since the previous tax year then you usually use the most recent one. Phone up Student Finance and let them know the circumstances.
 
tres said:
I've been looking at my finances for next year, and it looks like I'll be spending all the maintenance loan on... well, food really. Not much else for extravagant purchases.
How do you guys manage it? Do you have parents that help you out?
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i survived a month on nothing but toast and noodles. definitely wouldn't do it again, but it was possible :D
 
lukeharvest said:
Actually, if your parents' income has significantly changed since the previous tax year then you usually use the most recent one. Phone up Student Finance and let them know the circumstances.
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Yeah, this is what I had to do for next year, as my mum was made redundant, and rent is going to be more next year :(
 
flibbage0 said:
Well I will certainly need it, one of my parents has recently been made redundant and was the main income earner and also I have a sibling at university already and because student finance is done on last years earning I'm completely ****** :(

I will only get £3575 and the accommodation is £5k.
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Flipping sucks, I am in a similar situation as you. If you have divorced parents can you register with the one on the lower income? I have a feeling both my parents are over the bracket though.
My accommodation is £4k and they expect my parents to pick up the rest, fortunately they will but I don't understand why the government expect the accommodation prices to be the same everywhere.
 
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