Need help on Student Finance

So my application has been approved but I have calculated the costs of accommodation with my maintenance loan and it just doesn't seem possible to live in. I'm living and studying on campus at the University.

Maintenance loan I'm allowed : £7,510

Every week I'll be paying £113.60.
Which means monthly I'll be paying £454.40
3 Months rent paid : £1,363.20
I'll be receiving £2,478.30 the first term, leaving me with £1,115.10 to use for 3 months in total.

Is it really possible to live off that amount? Anyone able to offer some help or advice I'd appreciate it.

Reply 1

claireestelle

Original post by Hefty11

That would assuming a 16 week term give you £70 a week after rent, thats will leave you more than comfortable, i spent £50 or less most weeks at uni (although i never went clubbing but sent money on starbucks and cinema trips instead). Out of interest why do you feel it isnt doable?

Reply 2

Hefty11

Original post by claireestelle

Do you reckon that's enough? I don't know, I don't want to experience financial problems when I'm at University. My mum isn't providing any financial help so I'm on my own. I work at Waitrose currently, I need to transfer to a Waitrose in Sussex/Brighton as I'm going to University of Sussex

Reply 3

claireestelle

Original post by Hefty11

Well i live up north so it was a bit cheaper up here, but i honestly dont see why you couldnt manage on that amount. As long as you're sensible, dont blow too much money on going out or fall into the trap of spending all your loan in freshers then you should be absolutely fine in my mind :smile:

Reply 4

Hefty11

Original post by claireestelle

Yeah I'm sensible with my money (hopefully in University), Do you think I can be eligible for Bursaries or anything like that?

I'm looking on here : http://www.sussex.ac.uk/studentlifecentre/funding/bursaries/firstgenerationschol

I'm not entirely sure on how to see if my application has shared it's information with my University. I'm going to have to call them tomorrow and see what's up.

Reply 5

claireestelle

Original post by Hefty11

It looks like you could be eligible :smile:

there would have been a tick box on your student finance application to share details if i remember correctly.

Reply 6

Hefty11

Original post by claireestelle

It looks like you could be eligible :smile:

there would have been a tick box on your student finance application to share details if i remember correctly.

Thanks for the help, I'm going to contract Student Finance tomorrow.

Reply 7

mliela

Original post by Hefty11

This should be fine. You just need to budget. Your expenses won't be that high so it's nothing to worry about. Like someone said, most students spend around £50 a week which is decent. You can afford to spend about £75 a week which is good, better than a lot of students.

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Reply 8

Hefty11

Original post by mliela

Thanks, thinking about it now, it pretty much is decent as i only spend 30-40 pounds currently.

Reply 9

Tiger Rag

If you live in student accommodation, you won't have bills to pay.

Reply 10

Hefty11

Original post by Tiger Rag

If you live in student accommodation, you won't have bills to pay.

What do you mean? I'm going to pay £113.60 a week for accommodation

Reply 11

super_kawaii

Original post by Hefty11

What do you mean? I'm going to pay £113.60 a week for accommodation

In uni halls, all bills are already included in your rent, so you won't have to fork out extra to pay for water, gas, internet and electricity. This won't be the case when you move into private housing, where you'll be legally required to pay for all bills on top of your base rent.

Reply 12

mliela

Original post by Hefty11

Thanks, thinking about it now, it pretty much is decent as i only spend 30-40 pounds currently.

Is your accommodation catered? That makes a difference

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Reply 13

Hefty11

Original post by mliela

Is your accommodation catered? That makes a difference

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In terms of catered, do you mean food, washing provided? If so, we aren't catered, everything i would have to buy for myself

Reply 14

mliela

Original post by Hefty11

In terms of catered, do you mean food, washing provided? If so, we aren't catered, everything i would have to buy for myself

I meant just food. Then around £50 should be fine. My sister managed to spend only £13 a week on food. How? I have no idea. But it's doable. You'll find what suits you.

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