Yinka Charles M00030974 YC261 MBS1111 Tutor: Jonathan Moont Group (Mon 11:00-12:30am)
How much is my education costing me?
For this literature I will be looking at both the income and expenditure for the first year of the LLB degree of which I will be studying. This will enable me to estimate the level of debt that I will accumulate by the end of my studies.
After looking at my income and expenditure for the first year of my studies (calculated on the spreadsheet attached). It is estimated by the end of the first year of study my ending balance will be £6,142.70 this is going on the probability that I do not occur any unforeseeable costs. This balance would end as a credit and could be carried forward as an opening balance for the second year of my studies. The second year would start off with an opening balance of £6,142.70, which would be more than enough to survive on taking into consideration other income coming in for that year. This would mean I might not have to borrow any money for that year from a student loan. This would be beneficial, as I would owe less money on completing my degree. Alternatively the balance of £6,142.70 could be carried forward and added to year two and three of which I do borrow the same amount from a student loan for each year allowing myself a bigger credit at the end of the degree. I would then use whatever income is left over to put towards studying the Legal practice course of which I intend to go on a study.
