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OU and student loans after 50

(13 Posts)
barefootwoman Wed 03-Jun-20 14:22:10

Hi, I'm 57 and thinking of doing an OU degree now that my teenage daughter is starting part-time college (after being home-schooled). Thing is, I'd need a student loan. I think - looking at the OU info - I'd qualify but only until I'm 60. OU courses typically take six years. Does anyone have experience of this and would be willing to chat about it?

Teetime Wed 03-Jun-20 14:25:45

I did an OU degree when the prices were reasonable £600) a year and you could pay by instalment. Now its £7000 or so unfortunately which has priced most older people out of later life education. I haven't found any means of financing this after 60 loans aren't available as far as I am aware. You could try doing two courses in one year which would be quite a hefty workload but would get you through.

OurKid1 Wed 03-Jun-20 14:29:26

Do you mean experience of an OU student loan or experience of an OU degree at a 'mature' age? If it's the latter, then I do have experience. I started my degree at age 45 and finished at just gone 50. It was in Social Sciences, which included sociology, criminology, social policy, human geography and culture, media and identities, plus the first foundation year. I absolutely loved every minute of it! I had two school age children at the time, but they were secondary age so didn't need constant supervision. I used to spend about 2 - 3 hours a day on it, varying depending on whether an assignment was due. I even took my books on holiday and was often seen on the beach with a book and a highlighter pen!
I can't help with the loan aspect - sorry, as such things didn't exist in those days. It cost me about £350 a year - I guess it's a lot more now. It was great though and, given the funding, I'd undertake a Masters now - not for any other reason than I loved it!
Good luck and let me know if there's anything else you need to know, but I bet there are quite a few others on here who also know what it's like. x

OurKid1 Wed 03-Jun-20 14:30:16

PS Walking across the stage at my graduation while wearing robes, then shaking hands with the vice-chancellor was one of the best experiences of my life!

Shelmiss Wed 03-Jun-20 18:40:45

I took advantage of a student loan when I was 55 and did a masters part time at Leeds Uni but I’ve also studied at the OU where I did a BA (Hons). I’m about to do a masters with the OU from October but I’m not eligible for another loan.

As far as I’m aware as long as you begin your studies before you reach 60 you can still take advantage of the loan when you go over 60, but you can’t start a degree after 60 and receive a loan.

I love studying with the OU - good luck!

GrandmaMoira Wed 03-Jun-20 18:50:41

I am currently an OU student and have a student loan. I started when I was over 60 but the rules may have changed since I started. I cannot get a loan to do a masters. I recommend checking with the OU.

Shelmiss Wed 03-Jun-20 18:58:23

Ah yes GrandmaMoira my mistake, I think you can study over 60 for an undergrad loan but have to be under 60 for a masters.

barefootwoman Thu 04-Jun-20 09:15:57

Oh those were the days! A full degree now is nearer £18,000 can you believe!

barefootwoman Thu 04-Jun-20 09:17:11

Sorry @Teetime, that comment about prices was meant for you. I'm still finding my way around this system. Thanks for your response.

barefootwoman Thu 04-Jun-20 09:19:38

@ourkid1 Thanks for that. Your experience sounds amazing, and I'm so impressed you did it while raising two kids. I wish it wasn't so expensive now - so many people could benefit. Thanks again.

barefootwoman Thu 04-Jun-20 09:21:26

@Shelmiss If that's right and I can get full cover for the tuition as long as I start before I'm 60, that would be amazing! I'm going to contact someone today to see if that's true. Congratulations on your qualifications and good luck with your Masters. Thank you!

barefootwoman Thu 04-Jun-20 09:23:10

@GrandmaMoira Thank you for that, I'm going to check with them today. Good luck with your learning.

Shelmiss Thu 04-Jun-20 09:50:36

barefootwoman thanks for your good luck wishes! smile

This is the link to Student Finance which is a good place to start for all the information and covers the OU: