Wanted clean er sofa for nice uni boys ..

That-Crazy-Rat-Lady

Well-Known Forumite
It is a myth that students are poor.

Get a job, you can earn tax free and buy your own sofa!

Check out the furniture exchange on sash street, I got my sofa for £30 x
 

Gramaisc

Forum O. G.
A friend of mine bought a house and had no furniture, except for a couple of cabinets screwed to the kitchen walls and a sleeping bag on the floor - we prised up two floorboards so that you could sit with your legs dangling into the cellar.
 

hop

Well-Known Forumite
It is a myth that students are poor.

Possibly in a bygone era, you seem to forget this the 2012 cohort are paying upto £9k a year in fees. I doubt this group are though since most freshers live in halls of residence and would have no interest in sofas.

In the paper today it mentioned that a typical student in London will come out with 60k of debt. I would hazard a guess that this amount is more than any outstanding mortgage balance you have and possibly more than any mortgage you have ever had.
 

That-Crazy-Rat-Lady

Well-Known Forumite
Possibly in a bygone era, you seem to forget this the 2012 cohort are paying upto £9k a year in fees. I doubt this group are though since most freshers live in halls of residence and would have no interest in sofas.

In the paper today it mentioned that a typical student in London will come out with 60k of debt. I would hazard a guess that this amount is more than any outstanding mortgage balance you have and possibly more than any mortgage you have ever had.


I actually am a student! And I can tell you students aren’t starving in hovels anymore! Yes some students struggle as it’s their first time away from home, and they don’t know what to do when they get a lump sum in their bank, but if you spend it wisely and are really sensible with money you can actually save towards a mortgage!!
 

Gramaisc

Forum O. G.
One of the main skills that I learnt as a student was how to live on bugger all - much more important than the piece of paper that I have in the loft (I think)...
 

hop

Well-Known Forumite
I actually am a student! And I can tell you students aren’t starving in hovels anymore! Yes some students struggle as it’s their first time away from home, and they don’t know what to do when they get a lump sum in their bank, but if you spend it wisely and are really sensible with money you can actually save towards a mortgage!!

This doesn't mean much though. Your employer might be paying for you study part time at the open university or for you to study for an MBA at Warwick etc...
A student where, and how much are your fees ? Are you paying 9k a year in fees ?
 

That-Crazy-Rat-Lady

Well-Known Forumite
I am employed part time by a retail company where I provide excellent customer service ;) in fact I've probably served you without us even realising!

I don’t have a mortgage and I pay full student fees!

I am very wise with what I spend and have saved money as my years as a student.

Not to stereotype, but as a student I believe it’s fair to say the majority of students spend their money on booze and crap.

I however do not.

Although I am quite flatted that you obviously thought I was older than I am lol! x

Edit to add I am a full time student and Staffs uni
 

hop

Well-Known Forumite
Edit to add I am a full time student and Staffs uni

You haven't answered the question though, how much are your fees and who pays them ? If you became a student in 2010 or 2011 then you can't compare since your fees are 1/3 of the current intake.

I worked whilst I was a student I worked part time in various roles and I would have been unable to cover the cost of fees, rent and bills and definitely would be unable to save a significant amount towards a mortgage as you suggest. Sure I saved but a few hundred possibly thousands, but nothing in the scheme of things.

At my point in life (mid 30's) I am more than comfortable, I cleared my student loans many years ago and have enough money set aside that I can even think about retirement in the not to distant future. I doubt many of the current student group will be in the same positon as me though.

I'm an full on capitalist though and believe you get out of life what you put in and that hard work pays off in the end. However I fell sorry for the student of today, they get little or nothing in terms of grant, they have large fees to pay and then they have tough job prospects on graduation. Getting your first break in the job market is difficult, you have no experience so no one wants to employ you and there is also a great deal of competition for the graduate jobs. Also with globalisation you are competing against other Europeans who are also degree educated but are multi-lingual, if you were a graduate employer who would you take on ?
 

tek-monkey

wanna see my snake?
No students pay their fees, they take loans out they'll never pay back effectively making their payments a graduation tax. A friend of mine left for uni just yesterday, he gets more in loans than I got working part time even considering inflation. Students aren't poor now, they will just be poorer once they graduate with the same piece of paper half the staff in McDonalds have.
 

That-Crazy-Rat-Lady

Well-Known Forumite
They are my fees and I pay them, I have no financial support from parents or anyone else. Unlucky for me I changed my course title and thus meaning I pay the £9,000. Even if I didn’t pay the full amount it still wouldn’t affect the amount student finance gave me as living costs.

I don’t know much of politics or globalisation but I work very very very hard to make a life for myself. There are jobs out there, okay they might not be degree level but if you work hard you can earn a living, either whilst looking for something else or work your way up. You can’t just do a degree and then expect to be given the top job. I have two volunteering jobs that will eventually contribute towards my experience and full time employment.

Obviously other students might not have the same experience I have, and obviously you didn’t 10 years ago, but I hope to explain to you that I am doing EVERYTHING I can to make a good life for myself. I have a job, two volunteering jobs, full time university, I keep my house immaculate and I care for a relative as well as spend time on Stafford Forum ;)
 

tek-monkey

wanna see my snake?
Just a thought on the whole getting a break thing, I was immediately hired back by my placement company upon completing my degree. Since then four of my further jobs have been through people I went to uni with. My degree is next to useless but the connections I made at uni are worth way more. In fact now I think about it for 10 years after graduation every job I had was through mates!

My current role is the first I've got completely off my own back, although now my pension prospects have took a hammering it may be time to get another!
 

Withnail

Well-Known Forumite
Since then four of my further jobs have been through people I went to uni with.
It can often be not what you know but whom. University is useful as a good place to meet the people who you need to know to compensate for the fact that whatever you know is no recompense for knowing the people it is necessary to know.

Know what i mean?
 

tek-monkey

wanna see my snake?
My first Web programming job was gained not through my html or asp knowledge, as I had none, but on the strength of a mate who told the boss I'd pick it up as I went along. Which I did, but few employers would usually take that risk.
 

Gramaisc

Forum O. G.
as well as spend time on Stafford Forum ;)
That's the only bit that matters, really..

It can often be not what you know but whom. University is useful as a good place to meet the people who you need to know to compensate for the fact that whatever you know is no recompense for knowing the people it is necessary to know.
Nobody I knew at the Poly was ever of any use to me afterwards.
 

hop

Well-Known Forumite
Obviously other students might not have the same experience I have, and obviously you didn’t 10 years ago, but I hope to explain to you that I am doing EVERYTHING I can to make a good life for myself. I have a job, two volunteering jobs, full time university, I keep my house immaculate and I care for a relative as well as spend time on Stafford Forum ;)

All of which I admirable however I fail to understand how you can say you are well off when you are living on debt.
I also fail to see how you can talk about saving for a mortgage. If you have a loan which incurs 4% interest yet only get a rate of 2% in the bank then each month you are worse off.
Now I know a fair amount about investments and I am prepaired to take different risk strategies to ensure my investment get a satisfactory yield. However I would surprised if many students were willing to trade in the stock market or buy funds such as ETFs / Unit Trusts / OEICs.

The way I see this rather black and white. If you have money in the bank but still have outstanding debt then you aren't truly saving, you are simply setting aside a contingency fund.

So can you elaborate on how exactly it is possible for a student in this day and age to save towards a mortgage ?

When I studies in the 90s there were no fees and there were maintenance grants. You could take out the loan and place it in an ISA which actually yielded more than te interest on the underlying loan. After 3 years you had made a few hundred in interest over and above te outstanding loan and you simply paid the loan off in full, pocketing any difference.
 

tek-monkey

wanna see my snake?
I'll still never understand why I went to uni for free and got a grant under a Tory government yet under Labour it got very expensive. Admittedly under this current shower of tossers it has risen again, but WTF?

Uni should be completely free, but only in those subject areas where skills are required.
 
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