Really worried! Have i completed student finance wrong or is this all i am getting?

Maintenance Loan Maximum £5,475.00
Tuition Fee Loan Maximum £3,375.00
HE Maintenance Grant £2,906.00

Bursary - £1,453 - according to the prospectus.

How am i supposed to live when my accomodation is costing at least £140 per week. I will be getting no money of my parents, and i mean NO MONEY they can't afford to give me a penny! i will have to pay for everything myself so how the flip am i supposed to live? :confused:

(edited 12 years ago)

Reply 1

yukopp

OP

And of course i will try and get a job as soon as i can but no way in hell will i find one in time for the 1st few weeks of starting uni at least! and considering all the things i will need to buy, food, stationary, equipment etc... im going to have literally nothing, considering i cant ask my parents for help whatsoever!

Reply 2

Smelly Ellie

12

I felt like that when I saw how little I'm getting, and how much debt I'll be in at the end. But sounds about right to me :dontknow:

Ring up if you think it's wrong. Ahh I never believed people who said students had no money :frown:

Reply 3

flipshot

13

Wow, your getting more money than a lot of other students yet you are still complaining. Get a job if its still not enough, but it is a bit of a insult to others when you are getting that much yet still complaining.

Reply 4

QI Elf

17

Yeah, that looks right to me. VASTLY more than I get. I'd be dancing if I was on that amount.

Reply 5

Jordenfruitbat

Original post by yukopp

So i have applied for Geology MSCI at UCL - My total house hold income is just under £18, 000 yet this is what im getting!

Maintenance Loan Maximum £5,475.00
Tuition Fee Loan Maximum £3,375.00
HE Maintenance Grant £2,906.00

UCL Bursary - £1,453 - according to the prospectus.

How am i supposed to live when my accomodation is costing at least £140 per week. I will be getting no money of my parents, and i mean NO MONEY they can't afford to give me a penny! i will have to pay for everything myself so how the flip am i supposed to live? :confused:

I think that sounds about right and is a lot more money than most students seem to get, imo they don't give people enough you are just going to have to get a job if possible, I am not moving partly because I won't have enough money and my dad can't afford to pay for my accomodation.

Reply 6

yukopp

OP

i will be getting no money of my parents whatsoever and im going to university in London!

Reply 7

yukopp

OP

i swear i should be getting a much higher loan because of being in London!

Reply 8

onlyskin

13

I think your maintenance loan should be more around the £7000 mark seeing as you're going to be in London? have you given them a term time address yet?

Reply 9

flipshot

13

Original post by yukopp

i will be getting no money of my parents whatsoever and im going to university in London!

Well you didn't have to go to university in london. £140 a week x 40 weeks (roughly how long accommodation contracts usually are) is £5600. Leaving you £4234 giving you £105 a week over 40 weeks. How is that not plenty even for London.

Reply 10

mackemforever

17

Original post by yukopp

So i have applied for Geology MSCI at UCL - My total house hold income is just under £18, 000 yet this is what im getting!

Maintenance Loan Maximum £5,475.00
Tuition Fee Loan Maximum £3,375.00
HE Maintenance Grant £2,906.00

UCL Bursary - £1,453 - according to the prospectus.

How am i supposed to live when my accomodation is costing at least £140 per week. I will be getting no money of my parents, and i mean NO MONEY they can't afford to give me a penny! i will have to pay for everything myself so how the flip am i supposed to live? :confused:

What the hell are you complaining about, you've got way more than a load of people I know.

Let me break it down for you:
(I'm not mentioning your tuition fee loan here because it isn't relevant, you never see that money)

Total money = maintenance loan + HE maintenance grant + UCL Bursary = £9834
Accomodation = £140 p/w for 40 weeks = £5600
Remaining = £4234 = £105.85 p/w for 40 weeks

Are you honestly saying you can't survive on £105 per week?

Reply 11

flipshot

13

Original post by yukopp

i swear i should be getting a much higher loan because of being in London!

You are getting a higher loan but part of the loan gets subsidied for the Grant, you can't have full loan and grant.

Reply 12

yukopp

OP

Anyone who is at Uni in London, does my loan amount seem about correct compared to yours?

Reply 13

yukopp

OP

Original post by flipshot

You are getting a higher loan but part of the loan gets subsidied for the Grant, you can't have full loan and grant.

Yeah but i swear the loan is normally around the £6000 approaching £7000 for the poorer students in London, mine is quite low compared to that!

Reply 14

lordmat0

With every £1 you get from a grant you lose 0.50p from the loan I heard? or is that only for 2012/2013

Reply 15

Jenny_C

9

That is PLENTY. Way more than most students get. I studied in London last year, and that is loads.

Reply 16

Forever a Gnome

8

That sounds about right, and I'm sure there's cheaper accommodation in London for UCL... :s-smilie:

Reply 17

Zottula

16

Original post by yukopp

Anyone who is at Uni in London, does my loan amount seem about correct compared to yours?

I'll be in London and you are getting way more than me. It looks about right to me. Yeah, it's tough. You sure that's the cheapest accommodation you can find? Have you looked into summer jobs and stuff?

Reply 18

-honeybee-

15

What do you mean all that you're getting? I'm pretty sure that's the maximum available, with a generous bursary to boot. Most people survive on far less than that. You should have got a job whilst you were at school if you wanted more.

Not including your tuition fee loan you're getting nearly 10 grand a year! Most unis have a 30 weeks of term time and from my calculations that's around £320 a week!

Reply 19

edlambeth

10

Original post by yukopp

So i have applied for Geology MSCI at UCL - My total house hold income is just under £18, 000 yet this is what im getting!

Maintenance Loan Maximum £5,475.00
Tuition Fee Loan Maximum £3,375.00
HE Maintenance Grant £2,906.00

UCL Bursary - £1,453 - according to the prospectus.

How am i supposed to live when my accomodation is costing at least £140 per week. I will be getting no money of my parents, and i mean NO MONEY they can't afford to give me a penny! i will have to pay for everything myself so how the flip am i supposed to live? :confused:

you will be getting near 10 grand throughout the year, unless you are eating caviar and drinkng the blood of a raven every day then you will be perfectly fine,

your rent over a 48 (maximum) week contract will be appx6.5k so you are going to be left with about 3k to buy food,

i survive on £20 of food a week and about 30-40 a week on going out there are only about 38 weeks that youll even be at uni so your going to have loads of money left over

your going to have about 80 a week to spend, its loads of money, stop complaining its a hell of a lot more than most students get!

Really worried! Have i completed student finance wrong or is this all i am getting?

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