Being a student at university in London

Discussion in 'London and the South East' started by mwgdrwg, Feb 13, 2019.

  1. skyscraper101

    skyscraper101 0891 50 50 50

    Tell me about it. I'm still paying mine off, and I'm 37. And I didn't even pay tuition fees as it was means tested back in the day and I was from a low income single parent household.
     
  2. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

    I'd say this, tbh.
    A degree from CSM is going to be worth the cost later - and I say that as someone who doesn't do debt.
    Fwiw, my daughter did an 'Into University' thingy at school, where the debt was explained - she'd only start paying back if/when she was earning over £21k (? that was a couple of years back and iirc, that's been raised now, too :hmm: ) and at a fairly insignificant rate, once you ARE earning that back.
    There are actually various charts around that demonstrate what you'd actually have to be earning to ever pay it back, too (like £100k, lol).

    Having said that, it's worth mentioning that I think (again, iirc) that it's written in to the student loan company that all rules can be changed (eta - retrospectively, by the government), at any point :rolleyes: so be mindful of that, but that's very *worst case scenario*.


    There are other sources of income she can apply for too...

    Educational grants for students from trusts and charities | The Scholarship Hub

    Also, the stuff already mentioned about flat sharing being cheaper, unless you think she'd really do better in halls.

    On balance, I'd still totally tell her to go for it - it's a GREAT offer - but obvs you know your daughter best, ultimately.
    Could you have/have you had a trip down to look around CSM, where you could also incorporate a visit to some of the halls, or just do a bit of general milling about, so that she can get a feel for the place?
     
    Last edited: Feb 13, 2019
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  3. Bahnhof Strasse

    Bahnhof Strasse In the area

    South Bank.

    He's in halls, he works on Regent Street and started at uni to fund life in town, but is now enjoying it and finding the work easy, so there's talk of a Masters degree...
     
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  4. B.I.G

    B.I.G Well-Known Member

    Forbid them from hooking up with any religious second years.
     
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  5. hash tag

    hash tag never too old

    :):thumbs:
     
  6. mwgdrwg

    mwgdrwg Be a Pisces. Jam.

    Hopefully we will manage to get down there for a look in the next month or two.

    Still waiting to hear from a couple of other Universities too. Plenty to ponder over! :)
     
    friedaweed likes this.
  7. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

    Looks like she'd be on Plan 2 - so, as it currently stands, she'd only pay 9% back on any earnings (before tax) over £25,000.

    So if she earned £24,999, she'd pay nothing back - but if she earned £26,000, she'd pay 9% of £1000 (so £90 p.a.) - so y'know, meh.
     
  8. skyscraper101

    skyscraper101 0891 50 50 50

    I remember like yesterday going up on my own to interview for Universities in London. Had a choice between Kingston and Westminster and just remember that feeling of being all grown up and almost independent.
     
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  9. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

  10. skyscraper101

    skyscraper101 0891 50 50 50

    Yeah. It's good it doesn't take effect until after £25k but it's a hefty whack out of your pay packet when you earn any more. Like £360 per month if you're on £28k. After taxes, travel costs and other living costs ared factored in it can leave you on the breadline for years.

    The one upside to when I was living abroad was not paying the loan for a while as my pay was split between US and UK so I fell below the threshold in UK terms. Not that it helped in the long run as it just sat there waiting to get paid when I returned but I really needed that short term respite.
     
  11. skyscraper101

    skyscraper101 0891 50 50 50

    IIRC (in England and Wales only)

    On plan 2 they actually have a slightly better repayment deal in that the debt gets wiped after 25 years from the date of first eligibility to pay. So e.g. a 22 year old graduate can be debt free by 47 regardless of how little they paid off.

    On plan 1 (pre 2006/7 academic year) you don't get your debt wiped until you reach 65.

    Though Plan 1 are more likely to have lower debts... so it kind of evens out.
     
  12. Sue

    Sue Well-Known Member

    FWIW, I would have struggled with university in London. I was too young and shy and would've found it overwhelming. Was much more ready for it when I moved here at 21.

    So depends a bit on your daughter's personality really. Would she prefer halls or a shared flat (where it might be more difficult to meet people/meet up with them)? Going out can be really expensive too -- is she prepared to go out less/go to cheap places?
     
  13. Manter

    Manter Lunch Mob

    I think there is loads to weigh up London vs somewhere else..... but there is no real competitor to CSM though is there? If she wants to do something creative, it’s internationally famous and will open doors for her later. Many degrees you can do them anywhere. But CSM...is what it is. If she has the opportunity to go she probably should
     
  14. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

    I can't find the thing I was looking for but this is one more good website, which you could pass on to your daughter, too (very much written for students).

    The Big Fat Guide to Student Finance 2019

    (loads more on there not related to finance, too)

    There's also a repayment calculator on there which allows you to enter a starting salary - and then allows for pay rises and inflation etc - to give an idea of what your repayments will actually look like.
    I forgot the part about the whole debt being scrubbed after 30 years, too (although again, that's just as it stands now).
    It's still very scary to look at - and quite obviously our children should not have to pay fuck all for their education - but the reality is that it's also debt a that is really never worth overpaying and where the benefits of that education still outweigh the debt left (so far, at least).
    Given that lots of graduates would never pay it off anyway, it's pretty fucking dark that they didn't just reduce/scrap tuition fees on that basis alone - what I find disgusting about it, more than anything, is not that it makes uni unaffordable, cos it doesn't, but that it introduces the idea of debt as being a normal thing, to young adults.
     
    mwgdrwg likes this.
  15. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

    28k-25k = 3k @ 9% per year = £270.

    ETA £270/12 = £22.50 a month.
     
  16. spanglechick

    spanglechick High Empress of Dressing Up

    If it’s ok to say, what’s the course?

    London doesn’t offer the same university experience so beloved of most of us, but the flip side is that it hosts far and away the best institutions for a number of courses.

    Now Central St Martins (which is UAL now, right?) is going to be hard to beat for a whole stack of courses (Fashion and Jewellery courses, sculpture, fine art, possibly photography...) but not for everything.

    Where else has she applied? Still in London but Ravensbourne or Camberwell would be excellent for some of those courses. And regionally there are some awesome art schools. It’s only really fashion/jewellery that’s a hands down winner at csm- and there’s always the LCF in contention even then.
     
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  17. spanglechick

    spanglechick High Empress of Dressing Up

    Umm. I don’t think that’s quite true. It is world class, no question. But it’s not the only world class art school in the uk (tho admittedly most of the others are also in London).
     
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  18. hash tag

    hash tag never too old

    CSM is certainly part of UAL
     
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  19. friedaweed

    friedaweed Sitting down for a wee

    I moved to the East end and attended Goldsmiths in sarf London many moons ago. I loved it. I knew London a little bit before I moved there but it was still a bit to take in. It was quite easy finding digs back then but I'm not sure my daughter would of found it as easy as I did to secure digs and have a life because I got a full grant.

    She started at Liverpool last term and is loving it. I'd of loved her to go to London though. It's scary whatever they do and having mine just down the road does give me a bit of comfort if anything should happen but I'm also savvy enough to know that really I wouldn't hear about half of what actually does happen anyway.

    I never hear from her unless she needs owt or I call her :D
     
  20. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

    It sounds like the other options would all be out of London, tho? :hmm:
     
  21. spanglechick

    spanglechick High Empress of Dressing Up

    But then depending on the course there may be non-London competition. Falmouth has a world class rep for fine art, for eg.
     
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  22. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

    In the end, I think the single, MOST important thing is that she ENJOYS it - and that may come down to a smaller place and a course/uni that doesn't have the reputation of CSM (and my god, how hard is that to think on when you're that young) so I'm making no comment about where would be best if it's London that she might find difficult (I hate London and I'm a Londoner, born and bred :D - but I also think it's potentially a great city to move to - it's very Marmite, eh!) but in terms of costs, taking on a debt that you will likely never pay back anyway also allows some choice (mad though that is!), if the decision does come down to cost (expensive halls etc).
    Still totally amazing that she got an offer from CSM though :cool: - but then she'll likely do well wherever she goes. :)
     
    mwgdrwg likes this.
  23. sheothebudworths

    sheothebudworths Up the bum - no babies!!!

    You'd know way better than me there (was just responding to your post mentioning that most others are in London, iyswim)!
     
    spanglechick likes this.
  24. marshall

    marshall Well-Known Member

    Falmouth/London, now that IS one extreme to another...
     
  25. mwgdrwg

    mwgdrwg Be a Pisces. Jam.

    Thanks for all your comments, really useful. It's her decision but I just want her to be happy so will back her wherever she chooses. She is concerned about money and obviously I will sell the shirt on my back to support her financially if she goes to London. I agree that CSM has an amazing reputation and will look good on the CV, but one or two of the other places seem really excellent too. At the end of the day this is an awesome pickle to be in! How lucky she is to have the world at her feet, couldn't be prouder of her. :)
     
  26. spanglechick

    spanglechick High Empress of Dressing Up

    If you want to PM anything, my role is sixth form focused (and am at an arts specialist school) these days, so I’m fairly up to date.
     
    mwgdrwg likes this.
  27. mx wcfc

    mx wcfc Well-Known Member

    I haven't read every post, but I lived in the Berkshire sticks before going to Uni in London. My first "digs" was a bedsit in a house on the Brixton end of Stockwell Road. I was OK there as I was already an SWP member (yeah I know, sorry) and I hooked up with the local party.
    This is 35 years ago. I loved every minute of it.

    if your kid wants to go to London Uni, my thoughts are she should do it. But stick to Uni accomodation in year one, make mates and go from there.

    But London is expensive, for everyone, not just students. If It's the right course, and much better than anywhere else, go for it.

    I lived, studied and worked in London for 25 years, and I don't regret any of it. But I'm happy to be out now. Lot's of young people do that.
     
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  28. 8115

    8115 sitting down is bad for you

    I went to university in London, I do think I missed out on a lot, lots of travelling and working. But bonuses like great museums etc. And I loved living there after uni when I actually had a tiny bit more money. I should never have left, loads of opportunities for work as well.

    Generally I'd agree with your reservations but CSM is supposed to be amazing.
     
  29. hash tag

    hash tag never too old

    It's great to hear to much independent support for CSM :):thumbs:
     
  30. what

    what Well-Known Member

    yield likes this.

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