student loan thinking of doing a degree.

[ijusthadit]

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!!

[Winston001]

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.

[ijusthadit]

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?

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.

[Nomad]

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

As Winston I think uni is well worth it. Even for Arts students, b/c if you just want to do a job that isn't really specific. Ie., not IT, not Architecture, not medical, not law, not accounting. An arts degree still gives you some "ground" to apply for jobs. Thou you could argue that and I know people who just went to work in a bank after high school and after 5 or so years they are doing the same work as some uni grads without the loan but they might not have the unique (I think) uni life.

I've lived at home and away from home.

At home:
Fees that is $15k for the 3yrs.
Course related costs: $3k for the 3yrs.

You get the allowance or the weekly loan. $170 per week.
Most students draw out the max. If you have extra you can keep in the bank or save up for something else.

Some of the costs could be covered above with the course related costs but I'll list them all up:
Weekly IME or those around me:
$30-40 for bus.
Maybe $50 for lunches either buy or make it.
Entertainments maybe $50-100. This varies a lot, ie., cafe lunches or the odd dinner with friends outside etc ... a normal meal could be $18-25 without drinks. And how much pubs/pizzas.
Your internet and mobile phone
Buying clothes, socks, underwear as required
Haircuts
Various gifts for Christmas/birthdays/valentines/mothers-fathers day etc.
Own hobbies of your own.
Maybe trips away at the occasional weekend.

[Nick G]

As Winston I think uni is well worth it. Even for Arts students, b/c if you just want to do a job that isn't really specific. Ie., not IT, not Architecture, not medical, not law, not accounting. An arts degree still gives you some "ground" to apply for jobs. Thou you could argue that and I know people who just went to work in a bank after high school and after 5 or so years they are doing the same work as some uni grads without the loan but they might not have the unique (I think) uni life.

I've lived at home and away from home.

At home:
Fees that is $15k for the 3yrs.
Course related costs: $3k for the 3yrs.

You get the allowance or the weekly loan. $170 per week.
Most students draw out the max. If you have extra you can keep in the bank or save up for something else.

Some of the costs could be covered above with the course related costs but I'll list them all up:
Weekly IME or those around me:
$30-40 for bus.
Maybe $50 for lunches either buy or make it.
Entertainments maybe $50-100. This varies a lot, ie., cafe lunches or the odd dinner with friends outside etc ... a normal meal could be $18-25 without drinks. And how much pubs/pizzas.
Your internet and mobile phone
Buying clothes, socks, underwear as required
Haircuts
Various gifts for Christmas/birthdays/valentines/mothers-fathers day etc.
Own hobbies of your own.
Maybe trips away at the occasional weekend.

Yes and no. Some of that you would need to do even if you didn't go, so doesn't really count as a uni cost.

[Nomad]

Yes and no. Some of that you would need to do even if you didn't go, so doesn't really count as a uni cost.

Yep, if the OP was going to uni then those are the costs that would need to be somehow financed.
You could not go to uni but not factor in food for eg ..

[8ftmetalhaed]

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.

[ijusthadit]

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?

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.

[inphinity]

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.

[8ftmetalhaed]

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.