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How do i pay for student accommodation?

Just wondering how i actually pay for accommodation.

Does this come out of your student finance loan? I saw on the SF website there was a maintenance loan, is this used to pay for accommodation? This was not enough to cover the costs, so where do I get the rest of the money from if this is the loan i use?

Sorry if this is confusing!

Cheers

Reply 1

Tiger Rag

22

You'd have to get a job or get your parents to fund the remainder.

The maintenance loan is to pay for general living costs and any costs related to uni. (books, etc)

Reply 2

Trevascus

OP

5

So there is no loan available to fully cover student accommodation?

(edited 12 years ago)

Reply 3

kpwxx

20

Original post by Trevascus

So there is no loan available to fully cover student finance?

The maintenance loan is to cover living costs including accommodation. You might also get a maintenance grant for the same thing, and possibly a bursary from your uni.

Whether it will cover your accommodation depends on where you go and which accommodation you choose. For example, my loan and grant covered all the accommodation at my uni with money left for food and other stuff, but had I gone to one further south which I considered it wouldn't have even covered the rent.

It's unfortunately how the system works. If you don't get the full grant then the government expects your parents/carers to contribute financially, either by paying for certain things or giving you money. Obviously this isn't always possible... Some parents just can't afford it, and some don't want to. In those cases the student has to use savings or work while studying, and many students have to do this even with help from parents. It's pretty much the luck of the draw.

Good luck, hope you find some cheaper accom or money, and this doesn't hold you back.

Xxx

Reply 4

Trevascus

OP

5

Thanks for the help, I didn't realise this and i'm glad i checked!

The accommodation for UWE is £5500 and my maintenance loan is only about £3750. I don't think i'm entitled to any grants or bursaries due to my financial situation, which i think is very unfair! I don't think my parents will pay the rest either... So I have no idea what i'm gonna do!

If only the education system wasn't a business...

Reply 5

nexttime

22

Original post by Trevascus

So there is no loan available to fully cover student accommodation?

Not if your accommodation is that expensive, no.

Its something we all have to face. Welcome to being a poor student :cool:

Reply 6

Tiger Rag

22

Is renting privately an option? It might be cheaper.

Reply 7

stateofbecca9

What did you do? My friend is in the same situation now!

Reply 8

mliela

14

Original post by stateofbecca9

What did you do? My friend is in the same situation now!

Do you mean that your friends maintenance loan doesn't cover accommodation? If so then they'll have to either find a job, get help from parents or see if they're eligible for any bursaries.

Posted from TSR Mobile

Reply 9

Jackieox

19

Original post by stateofbecca9

What did you do? My friend is in the same situation now!

I was in this situation hence why I work 3 jobs to cover it.

Reply 10

Zekhan

2

I’m receiving money for student accommodation but I am living at home. Why have they not stopped paying me and will they find out. If they do find out will I have to pay it back

Reply 11

TheShieldNewcastle

6

Original post by Trevascus

Just wondering how i actually pay for accommodation.

Does this come out of your student finance loan? I saw on the SF website there was a maintenance loan, is this used to pay for accommodation? This was not enough to cover the costs, so where do I get the rest of the money from if this is the loan i use?

Sorry if this is confusing!

Cheers

Hi!

Your accommodation is usually paid for by your maintenance loan, yes. This is paid into your bank and is your responsibility to pay to your accommodation. :smile: