Extra gap year?

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Looking for help
Posts: 3767
Joined: Thu Dec 18, 2008 11:12 am
Location: Berkshire

Re: Extra gap year?

Post by Looking for help »

Marylou, I'm not surprised we are all confused for this year. Are they ever going to declare the universities with the lower fees, or where these AAB places are ?

Dublin sounds like a nice idea, but I don't know how you get any loans for studying outside the UK :P
daughter
Posts: 140
Joined: Wed Oct 07, 2009 4:23 pm
Location: Warwickshire

Re: Extra gap year?

Post by daughter »

Hi, just to throw another idea in ... If you think applying for deferred entry may disadvantage yr DD ( I have no idea as to whether it will or won't), how about applying for 2012 then when she has the unconditional offer asking if they will defer. I known this often happens and have never heard of a case when it has been refused. This would give her a chance to think further about whether or not she wants a 2nd gap year (probably gain 6 months plus decision time). Good luck whatever she decides.
mystery
Posts: 8927
Joined: Tue Jul 21, 2009 10:56 pm

Re: Extra gap year?

Post by mystery »

I'd just go for it in 2012. I don't see a gap year on low or no wages contributing more to the overall lifetime financial picture than qualifying one year earlier as a vet. I find that hard to understand mathematically, particularly as she has this year to earn as much dosh as possible. Babysitting and cleaning in posh houses - that's what I recommend.
mystery
Posts: 8927
Joined: Tue Jul 21, 2009 10:56 pm

Re: Extra gap year?

Post by mystery »

Oh and some tutoring too!
sherry_d
Posts: 2083
Joined: Tue Sep 01, 2009 4:38 pm
Location: Maidstone

Re: Extra gap year?

Post by sherry_d »

In Yesterday's email, Martin had a section on "Don't pay your children's fees upfront"

You can find the article in the link below if you scroll down.

http://www.moneysavingexpert.com/latesttip/" onclick="window.open(this.href);return false;
Impossible is Nothing.
Marylou
Posts: 2164
Joined: Sat Feb 25, 2006 2:21 am

Re: Extra gap year?

Post by Marylou »

Daughter I think you are right, and DH and I are going to attempt to take this approach with DD just to leave a few more options open. There should also be more clarity by next year as to whether there are going to be penalties for early redemption, so it could be a good move in the long run and allow for a more informed decision so that any money she does save for her studies could be put to most effective use.

Mystery - DD has a fortunate knack of landing jobs...she's a reliable babysitter, has a paper round and a regular weekend job teaching music and was recently "headhunted" :lol: for an hourly-paid data-entry job. I occasionally pay her to clear some of my business admin so that I can get on with more pressing stuff, and there are also plans afoot to start an Avon business....so no shortage of potential income, even without a regular 9 - 5 job. That wouldn't be any good anyway as she needs to allow for weekly blocks of work experience. I think that living at home she could save enough to cover a year's fees or at least cushion the inevitable shortfall in the maintenance loan.

Sherry, thanks for that link - I've followed it up. Much of the advice seems to be aimed at those pursuing 3-year courses and ending up not earning enough to pay off the loan. The difference in interest between a 3 and a 5-year course is quite significant though, and I (and others) have asked Martin to tweak his "ready reckoner" to include courses of more than 4 years. Our own calculations were based on the BBC website's calculator, so it would be nice to be able to make predictions with a bit more accuracy.
Marylou
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