Published on 12, July, 2020
It took my son many years to get to university but with the right support he got there.
He has spent all of his student loan and now can't pay his rent, and his housemates are annoyed with him. His dad is in hospital and he's really struggling, he also has other health problems
We applied for a Hardship fund with the university but they rejected it because he had enough money from his student loan, but that is gone now. He also has loan sharks which is scary and making the problem worse. I don't think they've taken into consideration his needs and what that means for money management.
We are appealing it. I was wondering if there's any information we could put on the application to help win an appeal.
Thanks,
Michelle
Because as a society we all benefit from a more educated population. Every time you walk into a building that didn't fall down on you, or you receive medical treatment or an operation, If you need need legal protection or a host of other things, it's all because someone went and studied at university.
If people are earning vast amounts of money through their degree and it doesn't directly benefit society (say, and investment banker), they will still be contributing much more back into the system via tax (theoretically - I appreciate this relies on fit-for -purpose tax laws).
You raise the point about why those on lower pay should contribute. Firstly, as this is through their taxes, they will likely not be contributing very much if they are really on the lower end of the pay scale, but secondly and more importantly, That person may be very academically gifted and aspire to much more, but the tuition fees become a barrier to entry.
there are definitely issues around the edges, but the fact remains that the average private financial returns to a university degree are high. so the government (joe public) fully funding degrees then means that people who on very low incomes are contributing - through taxes - to the funding of people that will go on to earn a vastly higher salary. So, there is an equity case for tuition fees, to reflect this.
to give a stark example: why should a toilet cleaner help fund the degree of someone studying PPE at Oxford who will go on to be Prime Minister, or become an investment banker and earn £2 million per year. that is what happens when a system is fully funded by the taxpayer.
I think it's a national disgrace that education is so costly. I sympathise with your son's struggles. Universities are corrupt when it comes to funding, and the student loans company should be disbanded. Education should be free or provided at minimal cost.
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Many people are taking loans, either for studies, either to open their small businesses. I think that student loans are an excellent opportunity for kids to get a real future. Even though it might be hard to cover those loans, but it can get more challenging in the future to get a paid job without having a college degree. Speaking of small business loans, you can check more information on (deleted by Mod). That's an excellent opportunity for people of all ages to make an exchange in their life and make their dreams come true.
Loans are too easy to obtain. A life without solid mentoring for earning, and saving, leads to crisis. I know myself, from drinking the 'Education, Education, Education' Kool-Aid.
What exactly is your son spending his money on? Is he able to do spreadsheets of his spending and Bank Balances? Are his friends trustworthy?
I feel that, as a society, we're too focused on consuming than working and saving. University is only effective if you do extra-curricular work.
Hello NAS72024,
I'm sorry to hear that your son has been struggling to manage money. You may like to contact our Autism Helpline team who can provide you with information and advice.
https://www.autism.org.uk/what-we-do/help-and-support/helpline
You can call them on 0808 800 4104 (Monday to Friday 10am to 3pm.Please note that the Helpline is experiencing a high volume of calls and it may take a couple of attempts before you get through to speak to an adviser.
All the best,
ChloeMod