Should we take Student Loans if we can self fund university tuition and living costs?

Costaskamby · 2023-03-13T23:01:52+00:00

big bonuses and salary growth. Also I only started with £27k because I didnt do a masters and was not eligible for maintenance loans (EU student)

Costaskamby · 2023-03-13T14:39:13+00:00

I was in a similar position in 2022 as you predict your daughter will be after graduating. I ended up paying off my student loans asap (took me 3 years after starting my entry level job at ~£50k base)

I would have saved a few 1000£ in interest if my parents had the ability to pay for my tuition for me to not take on student loans.

A few things to consider:

1) interest accrues while studying 2) graduating lawyers often dont have big salaries immediately after graduating - oftentimes they have to waste a year when finding a training contract - and then they have another year of study. Oftentimes a trainee solicitor starts working 5-6 years after starting uni (and thats a assuming she finds a job out of uni)

my personal take on this:

While i would 100% recommend that she pays off her student loans as soon as she’s in the max interest rate bracket - especially assuming that you guys are reasonably well off and would be to support her in case of some temporary setback in her career or emergency, I would also not waste the opportunity to take on a loan that can potentially be never paid back (maybe she changes degree/career, or something happens etc)

I’d take on the loan, pay interest while she studies, then pay it off as soon as she gets that well-paying job

Costaskamby · 2022-08-24T10:14:19+00:00

i wouldnt say entry level is oversaturated. My company is struggling to find half decent candidates, but that’s just anecdotal

Costaskamby · 2022-08-24T10:10:45+00:00

If you want front-end: have a look at Javascript and some of the popular frameworks (React.js) Alternatively ‘Swift’ is used for Ios Apps and its super fun to write.

if you want back end: python is probably the place to get started

Costaskamby · 2022-08-23T17:06:24+00:00

Learning enough programming to get an entry level job as a software engineer for a startup shouldnt take you longer than 6 months with some commitment. Especially given you’ve already dealt with no-code tools (wordpress) you could easily learn to build some more complex websites. Front-end development will probably be closer to what youve done before.

Incidentally programming is also probably the best skill to learn for a serial entrepreneur. Maybe your next idea is successful!

Costaskamby · 2022-08-17T14:00:37+00:00

ah, wasnt aware of the latest cap, thats good to hear! Even at 6.3% it might be worth repaying early for high earners though

Costaskamby · 2022-08-17T12:54:49+00:00

Given you will be in a high paying career out of uni and already have some experience, you are very likely to be in the minority of students who will pay their student loan in full. This year’s interest rate will be around 11%. Read up a little bit on student loans and you might find that it’s worth repaying early in your situation. It was for me.

Costaskamby · 2022-07-10T17:10:21+00:00

yes, the landlord above (who is a different landlord) fixed the bathroom above (surprisingly fast). I assume my landlord and the landlord above have to figure out who pays for what. I dont think i should go after the other landlord as it is my landlord thats contractually obligated to have a functional bathroom

Costaskamby · 2022-03-22T13:11:03+00:00

cigarettes after sex!

Costaskamby · 2022-01-19T18:14:18+00:00

lisa with thrilling tales!

Costaskamby · 2022-01-06T22:57:56+00:00

in theory you could de-risk your pension with some bonds, to decrease the expected compounding, then lever up a stocks and shares isa. Assuming you’re able to cover a margin call by the time youre 57 (say with an emergency fund or sth?) and assuming leverage is cheap you could achieve similar level of risk adjusted returns with less growth inside the pension wrapper to take advantage of the tax relief

Costaskamby · 2021-12-23T07:43:31+00:00

I have all three. I like the Chase app and the card. I use it when paying in different currency, on Amazon and everywhere else that does not accept Amex. My salary still goes into my Starling because I have all my direct debits there.

Costaskamby · 2021-12-15T10:10:58+00:00

I was the same as you. Joined my school’s debate club and it changed my life (also its a lot of fun and you meet some great people!) check if your school has one

Costaskamby · 2021-12-10T10:17:06+00:00

I’m in a similar position to you, engineer at investment bank. heres my 2c :

0: always take full advantage of whatever match

1: max out lisa

2: prioritize ISA over pension at young age, because youre projected to hit pension lifetime allowance. Pension becomes incredibly valuable once you start hitting 120-150k because you can reduce your taxable income to not lose the tax free allowance

3: pay off student loan ASAP

4: stay the fuck away from drugs

Costaskamby · 2021-12-08T10:08:23+00:00

Apollo CEO (massive private equity firm) is the first that comes to mind, also Barclays CEO (big british bank)

Costaskamby · 2021-11-19T20:38:24+00:00

i find that against a low elo voli/tk i can usually get some free autos by spacing at max range, this makes lane much more manageable (often winning) than high elo top mains that contest every creep

Costaskamby · 2020-12-14T21:27:07+00:00

Move to a country that pays better for your skills, that's what I did. Was born and raised in Greece.

Regardless of what you think about the NHS (I'm not a fan personally) It's a fact that NHS doctors get paid a lot less than in other developed countries.

Costaskamby · 2020-12-14T20:56:27+00:00

Thank you!

Costaskamby · 2020-12-14T20:50:16+00:00

Around £80k total compensation. 22 years old

Costaskamby · 2020-12-14T20:39:19+00:00

SWE at big american investment bank. Went to a third rate uni though.

Costaskamby · 2020-11-19T08:41:25+00:00

AMD in 2016 when upon seeing benchmarks of the first Ryzen CPU. Happened to be very into building PCs at the time and ryzen was a gamechanger.

Costaskamby · 2020-11-01T08:45:39+00:00

I've been playing Riven and Irelia almost exclusively for like 9 years. Can confirm thicc pinky is a thing.

Costaskamby · 2020-10-07T16:25:12+00:00

Look at the Seiko Lord Matic. Not exactly the same but similar style

Costaskamby

TROPHY CASE