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Before the Applications Go In: The Student Loan Talk That Actually Helps

Lena Hartley5 min read
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Before the Applications Go In: The Student Loan Talk That Actually Helps — Money & career

Questions worth asking before you sign anything

Open days are designed to make you feel welcome, which is lovely, and slightly unhelpful. Send your teenager in with questions written on her phone. What proportion of students on this specific course finish it? What do graduates of this course actually do afterwards, and how does the department know? Is there a placement year, and is it paid? What does accommodation cost in the second and third years, when students move out of halls? Does the department have its own hardship fund?

Then ask the money questions of the financial aid or student services office, not the marketing team. What grants and scholarships exist, and what is the deadline? How is the loan paid out, and what happens if she changes course or takes a year out? What repayment terms apply to the borrowing being offered, and are there other, less flexible products in the mix? If a recruiter is vague, or pushes you towards signing quickly, treat that the way you'd treat a pushy salesperson at the door. We are not financial advisers in our kitchens, and there is no shame in taking the paperwork to someone who is, or to a free advice service, before committing.

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