I am now starting to look at student finance for my DD for the academic year starting 2014. I have some questions but can't find any answers on the various websites.
1. Has anyone looked into alternatives to the the gov. backed schemes that may work out cheaper?I have thought about re-mortgaging, with rates at 2.9%, these seem much favourable than the gov schemes.
the trouble with this is that you would have to pay all that back if you borrowed it from elsewhere regardless of how much is earnt. if the student loan is not paid off in 30 years (and many won't pay it back) then it is written off.
2. If one decides to self finance is the tuition fee payable in full at the beginning of the academic year or termly. Does this vary with the universities?
probably varies, some I have seen require 50% at the beginning of the year and then the rest in installments
3. Can you decide to borrow one year and not the next?
yes you can vary the amount you borrow each year too
I've looked at the various student finance websites and used the calculator and quite shocked at how much my DD will have to pay each month as her salary increases as she progress in her career.
Has any one any ideas? try studying in europe - low or no fees but on the other hand no maintenance grants available