Money management problems/debt

Surely, part of "real education" is understanding how/the "art" of the con?  Are you not fascinated to see how this AI works....in it's beta-testing forms?....ie here and now?

Anything that recommends student loans is too evil for my taste. 

Real education is F.O.C at point of delivery, anything else is a con.

A bot "reignited" this thread 6 hours ago....see above...MakayLakylie....unmistakable snail-trail "wordology".

I was "engaging" with a similar specimen the other night...I suspect you'll get a reply if you want to see what this "make and model" of AI is at play.  It's interesting to me Sperg.

Since mine is the most recent reply here, maybe that isn't how I got here.

I thought it was...

Went to home, this was at or close to the top.

I just about learned not to click the stuff on the rhs...

Sound advice sir.

Slightly "bot"esque timeline?

What prompted you?

Financial life is like a game of monopoly, but when you lose that way, you lose years of your life trying to get back on top. 

It's a hard lesson.

NEVER borrow money to "get by" and that includes using credit card or an overdraft to "tide you over".

Find another way that doesn't involve you in paying strangers (who wouldn't wee on you if you were on fire) "interest" payments.  

Absolutely, loans can indeed open doors to valuable opportunities, whether for education or entrepreneurial pursuits. It's essential to weigh the long-term benefits against the challenges that may come with loan repayment.
Student loans can be a stepping stone to a brighter future, providing access to education that might otherwise be financially challenging. Investing in education often enhances one's skill set, increasing the chances of securing a well-paying job in the future.

Thank you.

RELEASE THE HOUNDS (please.)

I understand that this thread is from a couple of years ago, but I still want to offer my support and suggestions. It's unfortunate that your son faced such challenges.

"Step change" are a good organisation to help with managing debt. They will draft letters etc to the debt companies on his behalf. They will ask for details of all income and all expendature. One bit of advice i would give if he contacts them, be completly honest about all debts. Worth a try x

It's great to hear he got to university with the right support, but managing finances during this time can be incredibly challenging.

You obviously need to deal with the short term issue, but I think in the medium term it may help him to learn about budgeting.  There is a really good app called You Need a Budget or YNAB that might help him.  This really helped me to understand my income and outgoings when I didn't have much money and it is a very autism friendly:

www.youneedabudget.com/

This is a serious problem! However, I understand that there are times when you will be left with no money at all. I am sorry that the university has rejected the application for a supplementary loan. I know NaviBanker compares loans from different banks worldwide and can choose the right one for you. The interest rate on loans is very important, especially for students. Don't borrow money from black creditors - nothing bad will happen to you, so banks and debt collectors act according to the law.

Your son should have handled the money well. And if he knew what to do with money and what not - I'm sure he wouldn't have any financial problems. Unfortunately, this is a common problem not only for children but also for adults. Because of unnecessary spending, they lose money because they then get into debt and take loans to pay off debts. I have always tried to conduct [removed by Mod] before going to the bank and taking out a loan. Because the bank may offer an unfavourable offer, which I can agree to and face problems. And because people take such loans, they overpay and climb into debt again.

Spreadsheets&Pizza said:

I think the element that is unfair is the provision of student loans at a vastly unfair borrowing rate (increased due to the amount of debt that has to be written off)

absolutely.

Depending on the degree of personal payment, this may be a barrier that prevents people from poorer families from attending. The criteria to attend further education should be based on academic merit, not financial resources. 

I don't think I've misunderstood. I think we both agree that there is a benefit to society to educate to degree level and beyond, and that the government should subsidise somewhat, I think we just disagree on the amount.

I think the element that is unfair is the provision of student loans at a vastly unfair borrowing rate (increased due to the amount of debt that has to be written off)

You have misunderstood. I was explaining the case for why there should be some personal payment. There should of course also be public payment (subsidy) due to positive externalities. There is no legitimate reason why the gov should fully pay for higher education.