Hello I'm in my foundation year at university and I'm moving into my friends spare bedroom in her new home she has gotten. She is hardly charging me to stay with her as we're both students and we have come up with an agreement. I have applied for a basic minimum student loan this year due to my family income being rather large however when I move home the income will be a lot smaller so I will get a much higher loan. I'm smart when it comes to saving money and tend to save rather well. So i was thinking over the next 3 years of uni I was considering saving a fair chunk of my student loan each year and just mostly try to live on the money I earn working at my current job on the side. I was thinking of using my saved student loan to either in two or so years rent my own place or even possibly save it and put it towards a mortgage when I'm ready to buy my own home? I haven't seen any posts when googling to see if anyone else has asked this question or done this but do you guys think its a good idea? Thank you!
Read more: Using student loan to move out?
