Poll: Spend Student Loan?
Poll Options
View poll results: Spend Student Loan?
Spend It
8 14%
Save It
30 53%
Half and Half
17 30%
Other (Please Specify)
2 4%
Voters: 57.
#1
So in about a week i get £1,000 of my £3,000 student loan and the same amount in grant (which will be going towards petrol getting to and from Uni). The Loan however i don't actually need for anything. I do have a lot of things i want to buy (new amp, Multi effects pedal, electric drumkit, monitors, new bass, etc).

Whats your opinion on this? Shall i keep the money and probably not use it or spend it on stuff i will actually use?
#2
Id maybe hold onto it for a short amount of time in case expenses come up, but other than that i'd just use it to pay off the loan, interest sucks.
Quote by Jack Off Jill
I feel bad looking at porn simply because of the ol' story that a lot of those girls were molested as children, But I've never heard of midgets being molested, so it doesn't matter to me anymore, as that's the only kind of porn I watch.

#3
Quote by pandasxsharpies
Id maybe hold onto it for a short amount of time in case expenses come up, but other than that i'd just use it to pay off the loan, interest sucks.

Thats what i was originally thinking but apparantly you can't pay back the loan in one payment, it comes out of your wages gradually.
#4
Do not make any big purchases. You need to realise that next year you're going to be paying summer rent + September rent. You might also realise that you might be so bad with money you need to trim down next term.

Wait a few weeks, seriously. Then you can tell.
#5
Why did you take a loan you didn't need?

Anyway, I'd advise that you save it or at least only spend some of it.

I made the mistake of blowing a large amount of extra grant money on stuff my first semester of college, so don't spend unless it's needed
Oh f*ck it,
I'm gonna have a party.
I had the blankest year,
I watched life turn into a TV show.
It was totally weird.
#6
Quote by Craigo
Do not make any big purchases. You need to realise that next year you're going to be paying summer rent + September rent. You might also realise that you might be so bad with money you need to trim down next term.

Wait a few weeks, seriously. Then you can tell.

Living at home, no rent.

Quote by soXlittleXtimeX
Why did you take a loan you didn't need?

Anyway, I'd advise that you save it or at least only spend some of it.

I made the mistake of blowing a large amount of extra grant money on stuff my first semester of college, so don't spend unless it's needed

I got the loan to get the grant, i'm not going to say no to free money lol
#8
Put it in a high interest account.

longing rusted furnace daybreak seventeen benign nine homecoming one freight car
#9
There's never a downside to saving money when you're a student.
Spend when you need to, end up minted.
#10
Quote by Afroboy267
Living at home, no rent.


Save it up for future rent or other expenses. Maybe you want to move out some day; having £1000 in the bank will really help.

Quote by Afroboy267
I got the loan to get the grant, i'm not going to say no to free money lol

If it's a loan you have to pay it back eventually...
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#11
Quote by Craigo
Boring bastard, but suit yourself.

Save some, spend some.

I've had my share of living with friends, long story.

Quote by EndTheRapture51
Put it in a high interest account.

Lol, do they still exist?

Quote by Kensai
Save it up for future rent or other expenses. Maybe you want to move out some day; having £1000 in the bank will really help.


If it's a loan you have to pay it back eventually...

And yeah, the Loan i do but the Grant i don't.
Last edited by Afroboy267 at Sep 28, 2011,
#12
Save it. There's no way you're not going to need it in the relatively near future.
You who build these altars now

To sacrifice these children
You must not do it anymore
#15
From experience,

Save it.
Yeah, now you're gonna die wearing that stupid little hat. How does it feel?

Help me to live.


I make custom guitar wiring harnesses and I'm pretty damn good at it!
#16
just realize that everything you buy now can end up costing twice as much once you start paying back the interest on your loan.
#20
Yeah, paying student loans back is a hassle. I'd save it. I made the mistake of spending the $1400 I got on strippers and CDs and regretted it.
#21
You won't be as good with money as you think you will... you're going to need every penny you've got. Forget about music gear!
#22
Quote by bklinger83
Yeah, paying student loans back is a hassle. I'd save it. I made the mistake of spending the $1400 I got on strippers and CDs and regretted it.

You regretted getting strippers?

What a fag.
#23
Might as well save it, you have to pay it back (and more) anyway, so it doesnt make sense to blow it. Use it to make the payments on it, plus whatever extra for interest. Don't unnecessarily screw yourself over for fun stuff
NOPE
#24
Save it, use it in order to gain experience during the summer by doing an internship somewhere. The ability to work for free will be a massive advantage and will put you head and shoulders above the rest when you go to actually get a real job.

Quote by Godsmack_IV
just realize that everything you buy now can end up costing twice as much once you start paying back the interest on your loan.

AFAIK there's not a whole lot of interest on British Student Loans.
"Why should we subsidise intellectual curiosity?"
-Ronald Reagan

"Knowledge is in every country the surest basis of public happiness."
-George Washington
#25
Quote by Butt Rayge
You regretted getting strippers?

What a fag.

Oh, it was awesome at the time, but when I had to pay the money back a year later, it wasn't so good in retrospect.
#26
Quote by Afroboy267
Thats what i was originally thinking but apparantly you can't pay back the loan in one payment, it comes out of your wages gradually.

You can pay back more if you want. I know my sister and a few other people did.

But you should still save it, don't forget you'll want to go on nights out with your friends and stuff.
Quote by Renka
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#27
Open up one of them halifax accounts where you pay in £1000 each month and get a 5er for doing so (but be sure to withdraw that grand when you get the 5er). Do that each month for the year and you get £65 free from free money. free.
Just gotta be willing to visit the bank.
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#28
Based on your location you're going to end up pissing it up the wall at the Forum i expect, so dont worry about it
Such is posting in Soviet Russia
#32
When I was getting my 2,500 euro student loan, the bank asked me what I needed the extra 500 euro for.

"Cocaine and Thai ladyboys" wasn't quite answer they were looking they were looking for, apparently.
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even now, an 8 year old could go download gorilla rape porn and jack off to it.