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What's everyone's maintenance loan this year? Is this good enough?

I was wondering on what the average maintenance loan is, I'm aware it's based on parental income. I wanted to know if mine was reasonable, I come from a fairly low income background.

My maintenance loan is £8464.00, after accommodation for about 43 Weeks of £140, I'll have around £56 living money. Good enough?

I'll be studying in Manchester.

(edited 8 years ago)

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Reply 1

whydoidothis?

I thought the max was £8200, thats what i get anyways.
woops thats the most outside of london.

Reply 2

claireestelle

Original post by AirenBMS

I was wondering on what the average maintenance loan is, I'm aware it's based on parental income. I wanted to know if mine was reasonable, I come from a fairly low income background.

My maintenance loan is £8646.00, after accommodation for about 43 Weeks of £140, I'll have around £56 living money. Good enough?

I'll be studying in Manchester.

Should be doable in manchester, although i d wonder why you need to spend that much on accommodation.

Reply 3

Tiger Rag

Some of those 43 weeks will include the holidays which you won't be there for.

Reply 4

AirenBMS

Original post by claireestelle

Should be doable in manchester, although i d wonder why you need to spend that much on accommodation.

£8464* not £8646 correction! And in Manchester that's the average price of a standard accommodation, it's a university hall not even private...

Reply 5

AirenBMS

Original post by Tiger Rag

Some of those 43 weeks will include the holidays which you won't be there for.

Ah I see, I plan on getting a part time job at UNI and saving up during the summer also. How many weeks is actually spent at UNI, excluding the holidays, would you know roughly? Thanks.

Reply 6

claireestelle

Original post by AirenBMS

£8464* not £8646 correction! And in Manchester that's the average price of a standard accommodation, it's a university hall not even private...

Two close friends of mine were students in manchester and got their accomodation for between £90 and £110 in private accomodation, do you mean standard ensuite accomodation as £140 would make sense for that.

Reply 7

dipka

Original post by AirenBMS

I'm guessing your going into year 1 in September-so a new student for 16/17, so your on the new system.
This page shows the maximum ammounts. https://www.gov.uk/student-finance/new-fulltime-students

As your not in London the maximum is:Living away from home, outside LondonUp to £8,200So, I have no idea how you have ended up with more than that, but I wouldn't be complaining!
That accommodation is quite expensive, I assume it's your uni halls and as your in a big city they are more expensive than mine is. So if you struggle in year 1 my suggestion might be live somewhere else.
But £56 is enough to live on sensibly for a week, depending on how much you want to socialise I suppose. In a average week I spend £20-£25 on food, and then maybe £5 on other like cleaning stuff or stationary. I don't do much going out or socialising or anything so that's it.

Does that answer your question? or just ask whatever else you want to know.

Reply 8

toonervoustotalk

Miy student finance will be £8200 and (40 weeks of £132) at Reading so £2920 pounds for the year
Going to try and get the cheapest room onviously :tongue:

Would you not get a maintance loan as well
I thought it was a max of £3387 they give you ontop of your student finance (depending on your household's income though )

So i will have £6307 to live on for the entire year which works out to £120 per week should be doable :smile:

Reply 9

Daniel9998

think my max loan is £3500ish and my accommodation is £6200 LOL

So I have -£2700 spending money left over

Reply 10

BlackThunder10

Original post by Daniel9998

think my max loan is £3500ish and my accommodation is £6200 LOL

So I have -£2700 spending money left over

what about your maintenance grant??

coz boy you are gonna struggle, especially if you go in your overdraft in october

Reply 11

Daniel9998

Original post by BlackThunder10

what about your maintenance grant??

coz boy you are gonna struggle, especially if you go in your overdraft in october

Because of my parents income I get 0 maintenance grant

Reply 12

Alexion

I'm only getting the minimum loan for £5800's worth accommodation :closedeyes:

Still confused about this whole maximum loan thing though.

Every official website still lists it as £8200 but loads of people are experiencing a different maximum of £8640 or something like that. And I want to know why so I don't end up missing out on some cash...

(edited 8 years ago)

Reply 13

BlackThunder10

Original post by Daniel9998

Because of my parents income I get 0 maintenance grant

so are you gonna ask them for help? or you could just have a part time job along side your studies. Its great to learn about living away from home and managing life

Reply 14

Tiger Rag

Original post by BlackThunder10

what about your maintenance grant??

coz boy you are gonna struggle, especially if you go in your overdraft in october

New students won't be getting a grant. It's just loans.

Reply 15

ShellieT

Hi
Just been told i can have up to £9.699 this is based on living alone with r children not a parents income.
But im livid. I dont want to apply for it for reason which are my owb however im being backed into a corner. Take it or have nothing to live on cuz its classed as income weather u accept it or not.
Dont agree with their decisions on that but hay ho thats what is it ive been told.

Reply 16

Jenx301

Original post by ShellieT

You're angry because you are being given nearly 10k?

Reply 17

Serine Soul

I'll be geting £8200 for maintenance as a loan, and I'm estimating my accomodation to be something like £5700 for 30 weeks, so I'd have £2500 leftover but, my firm university offers a £3500 bursary, and some small rent deductions so I should be fairly comfortable

I almost feel like I could have a bit too much money. Oh well :redface: