Mature Student and leaving a job - finincial options

..Brian..

Hi Guys,

I'm trying to assess if I can afford to leave a dead end job and go to college as a mature student.

I understand that working full time will mean I am not eligible for BTEA but I may be able to get a grant?

I've been told that the best option would be to quit and go on the dole for a year but aside from being fraudulent, I simply can't afford it.

If I work full time up until when I would like to start, Sept 2014, I may be able to get the grant and continue working part time in the current job. Theoretically that would mean I could earn no more than €200 per week, realistically though this figure would surely be less.

How can anyone afford to live on less that €200 per week?! With bills, rent and living expenses this wouldn't go far at all. Can I claim anything from the dole or someone else to cover the days I'm not working? The grant is only €2300 a year I think?

How would other people approach this?

shawki

Statutory redundancy allows you to waive the qualifying period so if that ever comes up at work, take it.

..Brian..

Anyone have much experience with AIB student loans where you payback interest only while you're in college? That may be an option, it would cover rent at least.

kave2

I'm in a very similar situation. I have a full time job and starting collage next week. Currently working on night shift, trying to get weekend shift but is quite difficult, so for now I will have to work during nights and go to collage in morning :-) Even if I get the weekends, that shift will last probably till Christmas, so will have to come up with some plan.

..Brian..

That's very hard man. Have you looked into the AIB student loans at all? I haven't gone down yet but it will be next year before I will need it.

kave2

..Brian.. wrote: »

That's very hard man. Have you looked into the AIB student loans at all? I haven't gone down yet but it will be next year before I will need it.

Last year I studied full time FETAC course and worked full time on nights shift, got to sleep 3-4 hours daily. It was quite difficult physically, but finished the course with 8 distinctions and 2 merits.

And on top of that we are expecting baby in February :-) I have no idea how am
I going to manage everything but I'm doing it for my family and to be able to provide better life for them.

I don't want to take any loans. Will have to manage somehow

..Brian..

I'm typing this with my 8 week old daughter sleeping on my shoulder so I know exactly where your motivation is coming from as it is mine as well. Fair play on the FETAC course and I hope the rest works out for you!

Media999

Pain in the arse as your being penalised for working where someone who couldnt be arsed working will get BTEA no problem.

I would say if your earning not a lot in a job you dont want to be in and college is really what you want then just do it.

Best case scenario is a year flys by and you get into college and do what you want to be doing for a career or worst case scenario the government change something and you still dont qualify in a year.

kave2

..Brian.. wrote: »

I'm typing this with my 8 week old daughter sleeping on my shoulder so I know exactly where your motivation is coming from as it is mine as well. Fair play on the FETAC course and I hope the rest works out for you!

Thanks buddy, hopefully works out for you as well.

LINE45

I am not working and heading to college this years as a mature student. I was up till now a stay at home mum with two children who are not 7 and ten. I don't know yet if I will qualify for the grant as my husband is working and away a lot. I do not qualify for anything. When applying for the grant next year just bare in mind you will be assessed on your P60 for 2013. Looks at the income limits to see if you would qualify before doing anything too hasty.

LINE45

My children are seven and ten just rushing the typing as usual.

srsly78

..Brian.. wrote: »

I've been told that the best option would be to quit and go on the dole for a year but aside from being fraudulent, I simply can't afford it.

What exactly is fraudulent about it? Many years ago I quit my job to meet the criteria (it was 6 months back then). You can get a medical card and rent allowance on top of your btea too (unless they have cut back on that too).

Don't try to fight the system. Yes many of the rules are stupid and even counter-productive, but your principled stand won't change anything. You pay tax, so take what you are entitled to (education grants in this case)! There is absolutely nothing fraudulent about meeting a set of arbitrary criteria.

..Brian..

Being honest, it seems like the only option but will mean deferring starting college for another year as I have to pay off existing loans.

If I go to college as I had planned it will mean working full time up until next September and then going part time earning a maximum of €200 per week. Likely lees though. So I would have to do about 35 hours per week in college and 20 hours in work to earn that €200 and then find rime for study and family. I would also have to get a loan form the bank to pay rent for the 4 years so I would finish my degree and own the bank 12 grand straight away.

The sad reality is I will have to quit my job next September after my current loans are cleared and go on the dole for a year to get BTEA. It will mean 35 hours a week in college and €188 form the dole with the option of working 20 hours if I choose to. That in itself is worth it as I can concentrate on my course and actually get the degree. And another major point is that I will not owe 12 grand at the end of the degree.

Media999

Its 12 months on the dole not 12 months out of work. I think it might be risky expecting to get straight on the dole after leaving work. Last time i heard you have to wait 3 months or something if you leave rather than be made redundant.

Even unemployed 15 months then in college on BTEA is a decent option in this case if it leads to better things. Just make sure you get a decent qualification out of it.

Ive said in the past and ill say it again is my belief is that they will get rid of free college and replace it will loans like the UK system. 5 grand or so a year which you only pay back when you earn over 500 a week. Government is screwing everyone big time and id say the students will get it in the next few years if the country doesnt change big time.

..Brian..

Media999 wrote: »

Its 12 months on the dole not 12 months out of work. I think it might be risky expecting to get straight on the dole after leaving work. Last time i heard you have to wait 3 months or something if you leave rather than be made redundant.

Thanks for the heads up. My research indicates that I need to be claiming job seekers allowance (JA) for 234 days to be entitled to BETA. Excluding Sundays (which do not count), that equates to 273 days or 39 weeks when you take out the Sundays.

If you voluntarily leave your job or are fired for misconduct there is a delay of up to 9 weeks (63 days) before you get JA. This means I'd would need to leave no later that 29/09/13 to cover the 336 days required to qualify for BETA on the 1st of Sept 2014. But that's cutting it right down to the wire.

Media999

Cutting it fine alright. Id give a months leeway just in case and maybe even try make out you where let go instead of left work.

No idea where you work but only you know if thats possible.

..Brian..

Yea that's the plan. Unfortunately I work for a big company, lots of rules, procedures and paper work so it's unlikely but I'm going to try and get "let go" when the time comes.

The amount of jumping through hoops required just into college to get a degree and make something of myself is unreal.

Daniimoo

Don't forget about the college fees each year aswel I'm in the same boat, kind of! I was let go from my job 3 months ago and have been searching for another but to no avail but iv now decided I want to return to college in September so like you I'm in a bit of a dilemma, do I stay out of work until September just to qualify for btea or do I continue my job search. So much trouble just to return to college. Good luck with whatever you decide to do

taytobreath

the fees are covered by the back to education allowance and don't forget susi, you are eligible for a grant each year too. But its either the btea or susi, not both i dont think

shawki

taytobreath wrote: »

the fees are covered by the back to education allowance and don't forget susi, you are eligible for a grant each year too. But its either the btea or susi, not both i dont think

No, Anything regarding the grant is through susi.

You are not entitled to the maintaince grant when on BTEA but you can apply for the Fees grant.

taytobreath

shawki wrote: »

No, Anything regarding the grant is through susi.

You are not entitled to the maintaince grant when on BTEA but you can apply for the Fees grant.

yes, i didnt word that right at all sorry.
but theres plenty options and your never too old to go back to college