Dadinafix,
Please please take the beer goggles off.
There have been quite a few threads on here discussing the severe possibilities of becoming a bankrupt due to the gargantuan levels of debt that follow following intergrated and modular courses. Have you considered that this could seriously happen.
There are a great many who have yet to get a job several years after graduating with a shiny blue licence. Take a stroll to the Balpa conference in October to get an idea of how long it can take (for the tough/lucky/in the right place at the right time) for your son to get a job.
I took out an HSBC loan with my parents to back me up. My father isn't loaded either. They recently sold they're house at a profit......but what happens if the housing market bursts and you suddenly find yourself in negative equity....who and how will you pick up the pieces - IT HAPPENS. Most UK housebuilders are scaling back their investment and housebuilding schemes, WHY ?
Also, what would you do if your son gets knocked down by some drunk in a car the week before finishing his IR - has he taken out any sort of life assurance ??
And finally. Get him to do a business plan. Most banks will have a much more favourable outlook (especially if you can maintain a good relationship for the few years it will take to get that all elusive job). IF he can't be bothered, then he will not likely get to the RHS to pay you back.
Goldfinger
Oh and for goodness sake, get out there and go and speak to some people (for your own piece of mind ehh)
(If i could sell doses of hard reality for just a fiver I'd be a frickin millionaire by now)
