Actually, I feel like this was a group decision. Using the wonders of modern social technology, I asked my facebook friends what they would do "if you got into Cambridge and didn't receive a scholarship". An overwhelming majority of 18 people (out of 24) voted for "take a personal loan for $45,000 and be in debt for the next four years". The next closest option was "travel for a year with the money you've saved" with three votes (and I had expected this option to be the winner!). I chose to ignore the friend of a friend who voted for "kill yourself".
So I've done it. I've gone to the bank, sat down with them and told them to give me $45,000 because I 'would totally pay them back and stuff'. Actually, I did a fair bit of shopping around, primarily through the website http://www.personalloans.com.au/ I know this sounds like a dodgy website, but it's for real. It has very handy calculators and comparison features that allow you to compare your fees and fine print while also seeing the differenec in monthly repayments and interest paid over the life of the loan. It also updates daily with new promotional rates so I was on it a lot. But in the end, I went with a fixed interest rate loan with Commonwealth Bank over five years at 14.4 per cent. There were a few places like GEMoney, RACV and MECU that offered cheaper rates, but I was basically told that because I have no assets they wouldn't fund a loan, and I was lucky Commonwealth was offering me anything at all, let alone a rate as good as 14.4 per cent. I guess all that banking I've done in my Dollarmite account since I was five has really paid off.
And now the paperwork is signed. This little scholar officially has $45000 in her bank account, and owes the CBA $63,610. And what will I have at the end of it? A piece of paper and a year's worth of experiences. They better be worth it!! (That's a hint to the universe to send me a hunk of a Cambridge man who will pay off all my debts, and maybe take me on a little European adventure as well).
Actually paying for my studies doesn't sit that well with me. I've always been a big believer in earning your way, and letting circumstances decide my fate. I'm hoping that by persuing this down the road of personal debt I'm not ignoring all the signs of the 'universe' (or a word that doesn't make me sound like a hippy nut) which is screaming "Don't do this, it's a massive mistake!" Rather, I'm choosing to interpret it as identifying the things I want in life and doing whatever it takes to get them - which can be an admirable quality in some people.
Anyway, in order to take my mind off all the debt that is weighing down my savings account as of today, I went and made my first official Cambridge purchase. I just bought the below 1970s bike with basket and lock for 80GBP so that I have something to cruise around campus on. I'm gonna be the coolest kid in town.
I think I'm going to call her Odette...
A friend and colleague has a friend that went to Cambridge this year, and gave me her email address so I could get a little advice on my new adventure. So Fiona, as well as being completely patient at answering my questions and silly fears, offered to sell me the stuff that she won't be bringing back to Oz. Her friend Odette had done the same for her when she moved over there and it had made all the difference just having a few necessities upon arrival. So that is why my new bike will be named Odette. In addition to this gem, I'm now a proud owner of an iron, a full length mirror, a makeup mirror, a clothes drying rack, a hair dryer, a kettle, a quilt set and some kitchen odds and ends. These things will all be waiting for me at the Jesus College porters lodge when I arrive in Cambridge on 15 September 2011. Eek! I'm so excited and relieved that it's all coming together... even if I will be paying for it for a long time...
No comments:
Post a Comment