Hsbc Psl

[slackjack]

I'm nothing more than a side-lines lurker but will pass my thoughts here...

I have to agree with WWW somewhat, although emmett01’s enthusiasm is commendable, though a little niave...

So Emmett01, you get your loan (cool 70k or so) you do your course and pass with flying colours (as I'm sure you will going by your University pass – smart fellow) and probably have the time of your life (I sure would!). You send off your CV's and life's rosey, but after 6 months.... Nothing. You continue to send CV's.... Nothing still . Hang about… the loan repayments are now needing to be repaid. Frantically you send out droves of CV's like your financial life depends on it - still nothing .

Before you know it CHRISIS! (Or is that Christ!). You need circa 1K per month just to pay your payments! Right time for some real world engineering work, which of course you've been working on the backup job etc - hopefully! We start on maybe... £25k if we're lucky? = £1500 per month ish? Minus your 1K loan leaves you with a couple hundred a month?

But what happens if you're on less, or worse still can't find a job in that field and you are lumbered! You're folks are going to have to bail you out each month or... There house is in serious jeopardy. "Cue Barfing action!"

That is worse case scenario, but... You career happiness can not = your folks home on the rocks!!! I certainly couldn't do it to mine, sorry to sound harsh/dramatic. I know you have to take risks in life and I do, but at MY own risk.

I'll level with you. I'm same age as you, all bar one year. I'm as starry-eyed as you and been trawling this forum for years! However, there's so much wisdom on here that I have learnt from, and know it would be crazy to initiate a plan such as yours right now.

I'm in IT and take about £2200 a month; living with folks so can save about £1400 or so comfortably. Couple years of saving and modular can well be an option with no risks and perhaps the climates may have gotton better.

I seriously, think you should do something similar...

Work you career for a couple years as an engineer! Establish yourself and some reddies! £££. Then you will certainly have a good career to fall back on. At the moment, you have nothing to fall back on, rather a career to start if you had to on bottom wage! (With thousands to pay to Mr HSBC/AIB each month!). And out of interest, university loans???

Like any loan, the 70K will only become real, once you have to start paying it back.

Sorry if I’ve sounded like your dad, but you SERIOUSLY need to weigh this up... It CAN be done so much more safely.

Remember we're only young, there's no rush...

Good Luck