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University course funding

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lepetitfromage:
I have split this out from the confessions thread, so that discussion of university loans in the UK and US (and elsewhere, I guess) can continue without inhibition.  The first part of this post refers back to that thread here.

Paul

Ahh, that makes sense. I definitely wouldn't say he's "lucky" per se....just getting his feet wet.


Also, for TE- if you don't like it, change your course! It might take a little longer to complete but it's not worth it to pursue something you don't enjoy. As your namesake once said- "I never did a day's work in my life. It was all fun."

Also, if your programs are anything like here in the states, most of your core classes should count towards your degree and you might get lucky and have some of your specialized ones count as well if you choose something related. (I switched from Interior Design to Fine Art to Art Education and I was able to use a lot of my Fine Art courses as my Art Ed studio work). What are you studying?

Barmymoo:
lepetitfromage, unfortunately it is not that simple to change course - unless Thomas Edison (sorry, mental black hole where your real name is, I can see the hole but not the name) switches uni entirely, Student Finance will only fund 4 years. I can't switch my course because I've done 1 and a bit years of the degree, but 2 and a bit years of funding, and to switch to a different course I'd have to do another 2 years, making it 5 years in total and no loans for the last one. Does that make any sense? Probably not.

pwhodges:
(Ryan)

lepetitfromage:
Yikes. And I thought the financial "aid" process was complicated over here....

They recently changed all of our regulations, but our funding limits are based on what year you're in and what your total dollar amount in loans is. As undergrads, they cap federal loans at just under 60k total for however long it takes you to graduate. Each year has its own limits as well. For grad students, your total amount owed can not exceed 140K (that includes undergrad as well, so assuming you hit the 60k max, that leaves you with 80K in loans for grad school). Of course, this only matters if you are approved for the loan and manage to meet the eligibility requirements as well. 

Omega Entity:
Mine were all accumulated by 2009, I think. Been deferring them ever since, since I don't make enough to make the minimums.

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