# going back to college ;) advice please



## buddysmiley (17 Jul 2010)

Hello Every one,

The next few months I will sadly have no choice but to go into arrears.   I currently had to make a strategic choice to go back and get re-skilled and in turn will open a lot more options and get better cash flow in.  I have never missed a payment and I have since talked with my financial institution to see whether they would facilitate me with the next 2 academic year's.

I have since been to mabbs for advice and have drawn up an offer letter stating my offer, but unfortunately (bank) they turned it down.   I'am 28 so still relatively young and my mortgage is not huge therefore after my study i could start to pay the full capital amounts.  But the banks haven't favoured my plan and I do appreciate they must start to run it like a business with more a ethical approach.

so this were I am at


so I have made an offer and they rejected this, so I have since written and asked for them to reconsider my offer, and if not I can only make the offered amount.


 I have communicated with them months ago informing them about my circumstance and explained in detail all my financial details

please any one with good sound advice,


Cheers Buddy


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## goingforgold (17 Jul 2010)

Hi there,

I think if you fill out the money makeover form you will get more responses as it will give people more to work off. I'm not sure what approach the bank will take here. Will you be working partime when going back to college?


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## Brendan Burgess (18 Jul 2010)

buddy

You are voluntarily reducing your income. You should have factored that into your decisions to quit your job. It is unreasonable to expect the bank to fund your studies. 

You should remain at work and pay off your mortgage.

Brendan


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## ontour (18 Jul 2010)

The money makeover forum as suggested by GoingforGold is the way to go.  You need to look at alternatives.  Anything from deferring the return to education to borrowing further to fund the education.  There are lots of potential solutions such as renting our current property and renting somewhere cheaper (more student like !)

There is no point returning to education and then in 12 months the bank starts court proceedings.  That would be fairly distracting to your education endeavours.


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## shellcull (18 Jul 2010)

did you give up work to go to college???


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## buddysmiley (18 Jul 2010)

*Buddy*

Hi guys,

sorry *Brendan* I never explained that I was made redundant, and other factors regarding finances has made me make this decision.  And with respect i never stated I was asking them to fund my studies, just to repay lower payments until I get qualified in a specific area.


*on tour*, your very right about court proceedings, that wouldn't be a clever move but i want to try and find a way to accommodate the two.


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## shellcull (19 Jul 2010)

Hi Buddy, is there a local partnership in your area that could advise you of courses where you may be entitled to a grant to fund college?
I made the same decision after loosing my job and got excellent advice from a career mediator in my local partnership


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## buddysmiley (19 Jul 2010)

*Cheers*

Thank You Shellcull, how has college been for you??


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## shellcull (26 Jul 2010)

I'll let you know in a few months Buddysmiley, will be starting this sept


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## atheist (16 Aug 2010)

Have you been on welfare long enough to be eligable for beta and the maintenance grant (to pay the fees)


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## shellcull (17 Aug 2010)

I've applying for a maintenance grant, there are differeent 'grades' so not really sure what amount i'll receive.  Never heard of beta!! whats that?


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## Satanta (17 Aug 2010)

shellcull said:


> Never heard of beta!! whats that?


A typo  it's the back to education allowance (BTEA).


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## redbhoy (17 Aug 2010)

Brendan Burgess said:


> buddy
> 
> You are voluntarily reducing your income. You should have factored that into your decisions to quit your job. It is unreasonable to expect the bank to fund your studies.
> 
> ...


 

But the Banks should expect us to fund them when they fail??? Is that you Seanie?


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