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  1. #1
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    Default student loan thinking of doing a degree.

    Hi guys,

    I am thinking of heading to University, not too sure yet,

    but I want to know how much it will cost for me to get a bachelors degree

    if it is 3 years of study that is like 15k for the degree,

    what other costs needs to be added to the study loan

    also how much does the typical student get in their loan after their 3 year degree is done.

    Thanks!!

  2. #2
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    Default Re: student loan thinking of doing a degree.

    Its slightly complicated but not too hard. If you stay in a hall of residence then you'll pay 12K+. If you live at home then your living costs will be much less.

    If your parents income is moderate you may qualify for student support.

    Over and above all of that, what you need to think about is you have 40 years of working life ahead of you. A $15-25k student debt is pennies compared to the experience and knowledge you gain at university. A degree is no guarantee you'll earn much but your life will be richer with what you know. Believe me, nobody dies wishing they had more money, but a life well lived is priceless.

  3. #3
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    Default Re: student loan thinking of doing a degree.

    yeah a degree and a education is important,

    I will live at home,

    so if it will cost me 15k for degree,

    what other expenses will i have,

    on average if you stay at home and go to uni how much should your student loan be?


    Quote Originally Posted by Winston001 View Post
    Its slightly complicated but not too hard. If you stay in a hall of residence then you'll pay 12K+. If you live at home then your living costs will be much less.

    If your parents income is moderate you may qualify for student support.

    Over and above all of that, what you need to think about is you have 40 years of working life ahead of you. A $15-25k student debt is pennies compared to the experience and knowledge you gain at university. A degree is no guarantee you'll earn much but your life will be richer with what you know. Believe me, nobody dies wishing they had more money, but a life well lived is priceless.

  4. #4
    Yup. That IS a typo. 8ftmetalhaed's Avatar
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    Default Re: student loan thinking of doing a degree.

    on the other hand uni can be pretty ****. A number of people i know, myself included, have hated this semester at uni.
    Research your uni like hell, and make damn sure you're doing what you want to do. Even if it means adding a bit longer to the degree, I was gonna do a certificate but I was pushed by my teachers into a degree first thing.

    Looking back doing the certificate and then quitting would have been FAR better than not enjoying more than half of the degree, adding 6 months due to failing some papers sem 2 year 1, and then hating the rest of the degree and not being able to start the final project till I've done a maths paper that I failed two years ago which I may or may not pass the final exam for the latest variation in 2 weeks or so.
    Seriously. If I pass that maths paper and fail the other 3, I'll be able to die happy. Might take some explaining to studylink, but by the gods I want that paper DEAD.
    I'm doing comp sci at AUT btw.

    As for my loan, it's about 6.5k plus costs per year. Just estimate you'll end up with a loan of 20-30k. In my first year I pulled some money out of studylink towards a laptop, plus a couple of text books. Second year I pulled some more for more text books. They're expensive buggers. One was 108 bucks. And the lecturer never then used the damn thing. Hated that damn paper too.

    I also get student allowance, and at the moment I get living costs, which adds a bit each week to my loan, but is rather necessary at the moment.

    Also transport costs, and keep in mind your entertainment while between classes.
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  5. #5
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    Default Re: student loan thinking of doing a degree.

    Damn,

    so for a 3 year degree it wont be 15k it will be 20k to 30k and that excludes bus, food, entertainment?

    if i get a loan for other extra stuff how much you think the whole degree experience will be?

    Quote Originally Posted by 8ftmetalhaed View Post
    on the other hand uni can be pretty ****. A number of people i know, myself included, have hated this semester at uni.
    Research your uni like hell, and make damn sure you're doing what you want to do. Even if it means adding a bit longer to the degree, I was gonna do a certificate but I was pushed by my teachers into a degree first thing.

    Looking back doing the certificate and then quitting would have been FAR better than not enjoying more than half of the degree, adding 6 months due to failing some papers sem 2 year 1, and then hating the rest of the degree and not being able to start the final project till I've done a maths paper that I failed two years ago which I may or may not pass the final exam for the latest variation in 2 weeks or so.
    Seriously. If I pass that maths paper and fail the other 3, I'll be able to die happy. Might take some explaining to studylink, but by the gods I want that paper DEAD.
    I'm doing comp sci at AUT btw.

    As for my loan, it's about 6.5k plus costs per year. Just estimate you'll end up with a loan of 20-30k. In my first year I pulled some money out of studylink towards a laptop, plus a couple of text books. Second year I pulled some more for more text books. They're expensive buggers. One was 108 bucks. And the lecturer never then used the damn thing. Hated that damn paper too.

    I also get student allowance, and at the moment I get living costs, which adds a bit each week to my loan, but is rather necessary at the moment.

    Also transport costs, and keep in mind your entertainment while between classes.

  6. #6
    Yup. That IS a typo. 8ftmetalhaed's Avatar
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    Default Re: student loan thinking of doing a degree.

    Well you could probably keep costs down but you'll be pretty hard pressed to pay yourself through week by week if you're not living at home or have an already well established income.
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  7. #7
    Senior Member pctek's Avatar
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    Default Re: student loan thinking of doing a degree.

    Quote Originally Posted by ijusthadit View Post
    but I want to know how much it will cost for me to get a bachelors degree
    It also depends on the field you choose to study.
    Dentistry for instance is rather expensive.

    Look it up..........that gives you an idea of the course costs for starters.
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  8. #8
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    Default Re: student loan thinking of doing a degree.

    If you say typically .. as you say 3yrs of study.
    1. For the course fees it is around $5k for that I think, maybe 6k. So 15-18k for the 3yrs for the uni fees.
    2. Then you can get student allowance which is around $170 per week I think, if your parents are on a higher income you may get less but if it is too high you may get NIL. Then you can get maybe $170 per week as a LOAN. But if you are living away from home, can you get others to support you? Because $170 per week is all you get for rent, food, power, internet etc ...
    3. Then you can get $1,000 per year for course related costs like textbooks, bus fares, internet bills, laptop computer etc. ..



    The per week thingy, while it may be $170 per week, for the 2 academic semesters that is 40 weeks per the year. So .. if it was a loan that you cannot get an allowance that is $170 x 40 = $6,800 x 3yrs = $20,400 + the fees of $1,5000 = $35,400.

    Bear in mind if you stay at a Halls of Residence, they provide food for you but no snacks, the weekly DVD movie maybe, pool table for free etc .. and the gym and computer rooms. But the cost is generally about $250/week on a yearly 2 semester contract. Could be paid in advanced or weekly with prior management approval. You could leave generally but need a replacement to take your room.

    By living away from home and if you get the allowance you may qualify for under $100 a week for accomodation supplement, not sure how much it is now. But diff cities have diff rates. Maybe $40-80 a week at a guess...

    Don't forget movies and student trips to the pub and junk food like chippies and chips at the student cafe

    Many students cannot do a 3yr degree and complete. Even if you don't fail any papers, because how the papers are structured, you need first yr level before 2nd year then 3rd year and there may be 2 prerequisites done before you can do that paper etc .. and b/c of the workload, in a semester or two you think you could 5 papers? And/or you may need to consider summer school as well to knock a few papers off so you finish on time if you want ........ and again summer school will eat up more fees, more weekly loan, no vacation.

    Basically the $35,400 figure if you at home. The weekly loan/SA should be enough for you for entertainments etc .. If you away from home and need to pay rent, power, breakfast, dinner etc .. you need others to support you or work part time while studying. I would think that if you get $170 per week via loan or via the allowance, you need another $100 a week and live as a student "lifestyle" if you know what I mean. Then, maybe another $50 more per week for entertainment at least or if you get the SA the accom. supplement may help that.

    15yrs ago, halls of residences used to be $160 a week, now they are $250. SA/weekly hasn't increased as much ....
    Last edited by Nomad; 28-05-2012 at 09:47 AM.

  9. #9
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    Default Re: student loan thinking of doing a degree.

    Quote Originally Posted by ijusthadit View Post
    Damn,

    so for a 3 year degree it wont be 15k it will be 20k to 30k and that excludes bus, food, entertainment?

    if i get a loan for other extra stuff how much you think the whole degree experience will be?
    This is such a vague question, that it really isn't possible to give you a correct answer. An average 3-year undergraduates degree is going to be somewhere circa 16k in course costs (24 papers, approx $650 each - though this will vary depending on which university you choose).

    You will need to live somewhere - this is cheap if you will be staying at home etc, or expensive if you want to stay on your own in a luxury penthouse.

    And if you go to Pak N Save and buy in bulk and cook your own meals, it will be far cheaper than going to Orbit every night for dinner.

    Anyway, the student loan will cover your compulsory course fees (the approx $16k above), plus you can get up to $1k per year for course-related costs (textbooks, bus travel etc), and if you really need it you can borrow about $170/week for living costs.

    If your parents' income is moderate, you may qualify for the student allowance, which varies greatly depending on your specific circumstances, and if you're not living with your parents you can tack on the accommodation allowance.

    Other than the course costs, though, the rest all depends on your decisions.
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  10. #10
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    Default Re: student loan thinking of doing a degree.

    To me I'm with Winston. Money is just that. Esp if you live away from home the experience of that and the friends you may meet for lifetime is priceless. I been to a PTE before, that just lacks the lifestyle compared to a uni. PTE was just about getting the work done and if you have anything just approach the private firms - shops, medical, some may even limit student services ie., no library and the computer rooms just shut when the staff goes home. There may not be additional (free) tutorials, counselling, budgeting advice, clubs and interests, no discounted health care, maybe not even any cafeterias on campus, the campus may just be a single floor on a business building.

    It's like you approach the Drs in the CBD for maybe $60 appt fee less 10% student discount perhaps. Or eat in the CBD. Or sign up at Les Mills or join a tennis club and pay more. Or simply that computer rooms may be shut so get your mates to help you with their computers or have your own .. There is just no campus. It is just going into meeting room #1 or #2.
    Last edited by Nomad; 28-05-2012 at 10:13 AM.

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