How to afford university?

Do you not have your loan settlement letter? On one of the pages, it should show the schedule for when you will be paid. You can then calculate if it will be enough. On top of your rent you will need to pay for gas, electricity and water plus any media bills. That is about it.

Good luck!

It is tough affording uni? You will need to buy stuff to take with you or take stuff from home like your bedding, Mug, plates, cleaning stuff, are to name just a few. If you are buying all this then it will all add up. Also, are your bills included in the rent? If not, then you will have to pay these as well as TV license, mobile phone bills, food, and insurance if you have anything valuable you want to insure. Work out roughly, how much you expect to spend each month. Most find they need other extra money to fund uni, either generous parents or a part time job.*
Good luck. *

Hopefully, I'll be moving out for university in a couple of years. I'll be entitled to the maximum maintenance loan but, how does it work? How often will I get the money and how much will I need for bills? I won't be living in halls so rent will be £400 per month maximum. Will I be able to afford everything just with the maintenance loan? I won't really be going out btw as it's not my sort of thing

With the maximum maintenance loan you should be able to live pretty comfortably as long as you don't blow it all on something. You'll also be eligible for a university bursary, the amount of which varies. In England (and Wales & N.Ireland I believe) its paid termly, the first payment is made 3-5 days after you register at university and subsequent payments are usually made the first day of each term, so one in September/October, one in January and one in April. You need money before you get your loan for a housing deposit, cutlery/crockery pots and pans and bedding and food for the first few days til you get your loan in. Bills depend on usage, things like whether you have a water meter or not, whether you shop around for the best deal, but typically in a house share you are looking at £40-50pcm.*

Thank you 😊 I hope to have at least £1000 savings before I start

You're going to want to make up a mock budget that looks something like this:

http://i.imgur.com/OHVFGHdh.png?1

Input the expected amount of student finance in 3 instalments (usually paid September/ October, January and April depending on university and course start dates. Also include any bursaries you know you'll be entitled to.

Once you've got your incomings in your budget add in your outgoings (rent, bills, food, transport etc) and see where this leaves you. This is how I've always done it. It makes it so much clearer I think.

Hopefully, I'll be moving out for university in a couple of years. I'll be entitled to the maximum maintenance loan but, how does it work? How often will I get the money and how much will I need for bills? I won't be living in halls so rent will be £400 per month maximum. Will I be able to afford everything just with the maintenance loan? I won't really be going out btw as it's not my sort of thing

In addition to the maintenance loan most people get support from parents and / or get a part time job. If, on top of your loan, you can get an extra £50 a week you will be fine (depending on the area you go to university, and not taking into account the fact that you're going in a couple of years). I went to Sheffield which is a very cheap city and this is how I got by, relatively comfortably.

Thank you that's really helpful and no the bills aren't included. My mum can't afford to help me so I guess I'll get a part time job if needs be. I will have some savings but not loads

I won't be living in halls

Thank you 😊 I hope to have at least £1000 savings before I start

Thanks, I'm planning on going to Newcastle university

Hey,

I'd definitely recommend looking into JobsOC when you're here You can pick up casual/temp/part-time work that fits around your timetable. I did this every year of my degree and it was a lifesaver! I had temp jobs during term-time and then full-time placements over the summer holidays.

There are some budget tips on the Uni website too

All the best,

Persephone

Thanks, that's really helpful 😊 Are you a student in Newcastle?