Quizzes & Puzzles1 min ago
Student Finance
9 Answers
I'm about to drop out of my course, and I was wondering if this was a wise I idea:
I'll be getting my 2nd Student loan payment (�1,450) at the same time as I drop out from the course, and I was thinking, well, seeing as i'm going to BIMM (Brighton Institute for Modern Music) I might as well buy some pro equipment with this loan, so i'm buying a �1,000 amp. Wise? Will the Loan Company do anything un-just to make this decision less ingenious than it seems?
Thanks!
I'll be getting my 2nd Student loan payment (�1,450) at the same time as I drop out from the course, and I was thinking, well, seeing as i'm going to BIMM (Brighton Institute for Modern Music) I might as well buy some pro equipment with this loan, so i'm buying a �1,000 amp. Wise? Will the Loan Company do anything un-just to make this decision less ingenious than it seems?
Thanks!
Answers
Best Answer
No best answer has yet been selected by blueroseking. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.the official rule is that everyone is allowed a false start that if you drop out in the first year of study then you will have no problem with finance when you chose to start a new course. From what I understand you are not guaranteed help if starting a new course if dropped out in 2nd year. You would be best to check with your local authority as ultimately they are the ones making the decision.
You ask whether it is a wise idea.
No it is not - much the same as taking any loan that a person has no clue as to how it will be paid back.
OK, so Student Loans are a bit different - one has no choice to finance one's studies - but this is not your intention - you want to spend it some consumer durable.
Probably not what you wanted to hear - it's a balance of youth versus experience speaking.
No it is not - much the same as taking any loan that a person has no clue as to how it will be paid back.
OK, so Student Loans are a bit different - one has no choice to finance one's studies - but this is not your intention - you want to spend it some consumer durable.
Probably not what you wanted to hear - it's a balance of youth versus experience speaking.