Students are faced with a choice which might seem a little daunting: whether to go to university to study in a faraway city, or study from home. This choice has been made slightly more complicated by the intrusion of a world-altering pandemic into modern life, but for the most part, the factors in play are the same as they have ever been. More than ever money plays a large part in this decision. So, should you stay at home and choose a local university, or should you relocate to study? When it comes to mindful money management it pays to assess some of the variables.
Mindful Money:
Why Should I Go Away?
Greater Choice
When you throw the net wider than your local vicinity, you’ll have a greater number of universities from which to choose. Thus, you’ll be able to pick the one that precisely matches your educational needs. If you’re based in Brighton and there’s a great place on offer in the University of Edinburgh, why make compromises? When it comes to money concerns, you can look into financing outside of the student loan system. There are sources available, even to students with bad credit histories. Although avoiding getting into debt is always advisable! If you have to get credit, for any loan you take out, be fully clear on the interest rate and the length of time it will take you to pay back. It’s easy to think of this as a reality that will be a million years from now, but the fact is, you will have to pay it back!
Greater Freedom
When you aren’t living under the watchful eye of mum and dad, greater freedom to do the things that you want to do. Imagine getting your own student housing in groningen, or elsewhere, having the independence to come and go as you please, even taking a stroll at 3 a.m. if you feel like it. That kind of freedom is enough to make studying away from home worth it for many, no matter the financial cost.
Culture Shock
One factor when choosing to live away from home, is that for the first time, you’ll need to fend for yourself. Your mother isn’t going to stock your fridge, clean the place, or call the landlord when the boiler plays up. Having to contend with these issues will make you a more well-rounded and resiliant person.
Why Should I Stay Home?
More Money
When you’re staying at home, you’ll have more of your expenses covered. Unless your parents impose strict rental rates, they’re most likely never going to match the landlords near the university. Moreover, you won’t be under pressure from your peers to go out and spend money every night of the week, so less temptation means you’ll ultimately spend less.
Fewer Obligations
When you’re living at home, you won’t be obliged to go out, make friends and meet new people. You’ll be in control of your learning environment. Of course, this might well be a downside, as it could stunt your social development.
Although the global pandemic may have halted many plans, the consideration of wether or not to go to uni and move away from home remains. There are many aspects that play into this decision, not just financial ones. You need to weigh up the importance of the above points and if you stay home to save money, do you miss out on fundamental social aspects of student life?
