Forum Archive Index - September 2000

["Sarah Corkhill" <sarah.corkhill@db.com>]

I've just gotta get in on this one.....

While I agree with the student loans idea in principal - it doesn't work in 
practise.  Of the many students I have met over the years the large majority of 
them used only a small portion to pay living expenses and fees while the bulk 
of their loans was spent buying shares, drinking, taking holidays, buying tv's 
& stereo's, a yacht and in one case starting his own business (you know who you 
are!)
I also know students who worked their way through their degrees without ever 
having to take a student loan so I know it can be done.

I always intended to go to university after abit of 'work experience' but I was 
lucky enough  to stumble across an employer who paid for my training and I got 
to work at the same time.  While I didn't get a university education I did get 
a qualification recognised in my chosen profession and I learnt my of the 
lesson's that varsity students do without the burden of a student loan.  I 
learnt, as all students do, that a party a night before an exam is not good if 
you want to pass!

When it comes to buying shares with your student loan you are probably learning 
a more useful skill than most of the courses you are taking at varsity.  
Psychology, economics, accounting and finance are just part of the experience 
that is Shareownerhip 101.  What does surprise me is that more students don't 
do it.

It really annoys me when students complain about the burden of their student 
loans and petition the government to write them off.  All it takes to avoid a 
huge loan is not to accept the money when it is offered to you -simple.  I made 
the choice not to go to varsity and not to take a student loan but  to work and 
pay taxes.  Everyone with a student loan made the choice to put out their hand 
and accept cash that seemed mighty good at the time but not in hindsight - yet 
another lesson you can get from buying shares.

I am now 25 (but feeling 30) and in England doing my bit (like all the kiwi's 
here) to prop up the English economy, travel and earn a currency that doesn't 
currently resemble monoply money (sorry if  sound like RIL).  I do respect 
anyone that wants to go to attend an establishment of higher learning but I can 
say I'm glad I don't have a debt resembling the size of a mortgage and 7 years 
of work experience instead.

Hasta la vista.........


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