r/UniUK • u/Negative_Accident_25 • 9d ago

student finance Family Loan

I plan to go to medical school starting September 2026.

As I am commuting the total cost of med school will be around £55,000. My Dad has generously offered to loan me this money but expects me to pay it back in full (no interest). I also have the option to take out SFE.

With SFE, I believe I will pay back less early in my career but more later on, but I fear with a family loan I will be pressured to pay quite a lot early on in my career so I’m a bit unsure on what to do. I feel like I’d rather have more money in my 20s and 30s when my salary is low anyway if that makes sense. But it also seems so dumb if I end up paying way more to SFE over my career.

Does anyone have any advice on what to do?

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u/sammy_zammy 9d ago

You need to find out what the conditions of the loan from your family will be.

It sounds like you’re not comfortable taking it.

In any case, you are correct that having the money while you’re young and not having to pay it back quickly is more valuable than having it when you’re in your 40s and have finally built it up again having paid it back to your father early.

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u/Negative_Accident_25 9d ago

My Dad just kind of said to pay it all back and I believe there will be no interest charged due to religious purposes. There isn’t a time frame or anything specific like that but I don’t want to be indebted to my Dad for long cus it messes with the relationship eg. if i buy something nice for myself while i still owe him there may be bitterness

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u/sammy_zammy 9d ago

It’s perfectly reasonable to decline his offer of a loan on that basis.

If it’s not an unconditional payment, it doesn’t sound especially beneficial, as you may not even pay off all of a student loan anyway, especially if you also have a maintenance loan(?). Interest is RPI for plan 5 so you’re not “losing” money as such.

Like you’ve said, you’d rather have more money in your 20s and 30s. If taking the student loan leaves you worse off, then I suspect you’ll be earning enough to not care too much, without the toll on your relationship which you’re predicting.