EvoStu wrote:Just Dirk wrote:EvoStu wrote:RSFN2GT wrote:Exactly why the country is a shambles.
Student loan is not money for an Evo ffs.
To be fair though, the money you get is to be spent on whatever you want. Whilst I agree it should be spent on financing their education, there is no stipulation to this.
OP's attitude stinks regardless...
Not disagreeing with you. IMO all student loan expenditure should be vetted.
Even students with multimillionaire parents are allowed a maintenance loan, they just won't get a maintenance grant - which is the part you dont have to pay back. My maintenance loan is about £3k and my grant is the same, so i get £6k a year to live on if i don't get a job.
If OP already has a job and savings he won't much of a grant so the loan is pretty much a bank loan with a tiny repayment amount unless OP starts earning a lot. I think the most you pay back per month is about £300 but you have to be earning £60k +. That repayment figure includes the tuition fee loan and the maintenance loan.
You're allowed to spend your loan on whatever you want. I do agree though, the grant should be vetted at least because that won't get paid back.