Loads of financial subjects confuse people; that’s the reason MeaningfulMoney exists. But one common misunderstanding in particular is also the source of lots of uninformed political opinions and hand-wringing – it’s the student loan system, and that’s what I’m going to try to clear up for everyone today.

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University Challenge

I remember Student Loans being introduced. They were different back then, of course. I certainly didn’t need it either to live, or to pay for tuition. Nope, I borrowed £1,100 and took another £1,000 on HP and bought two brand new Korg keyboards. I’m amazed I didn’t leave university as a bankrupt. It tells you something about my love of technology that I put having the latest musical equipment higher up the priority scale than eating!

Today’s student finance system is very different, of course, and I going to spend a good portion of today’s show going through that in the what you need to KNOW section. Then I’ll give you some action steps to take if you’re at the life stage when your kids are heading to university. And you thought the previous life stage was expensive…

Resources mentioned in this episode (there's lots!)

Website: Money Saving Expert Mythbuster guide

Website: MSE Blog – Why some students won't pay

Calculator: MSE Student Finance Calculator

Website: Gov.uk Student Finance pages

Email address for sending your questions: lifestages@meaningfulmoney.tv

And, just click the mahoosive blue box below for this week's transcript:

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