Student Loan stupidly divided
Discussion and questions about student financial support arrangements - from government loans and grants to university bursaries. Please use the main Money & Finance forum for more general financial topics.
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Student Loan stupidly dividedFinally got my final SF statement saying how much money I get each term.
If I divide my total loan (after accom) I would have £77 a week but because they split my loan stupidly so I get a bigger chunk of my loan in the third term I get about £28 a week for my first two terms and £287/week in my third term.
I realize this is more than a lot of students get, my issue is WHHHYYYY? What logic is behind giving a student more money for a shorter term? Surely a bigger junk in the first term would be more logical? Buying books etc.
They should at least give you a couple of options on how you want your loan split. Guess I'll be working more hours than I thought...
(I can't get a student account so no overdraft to fall back on) -
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Re: Student Loan stupidly dividedbecause the money you get for the third term is supposed to cover the summer as well, so from april-september so 6 months plus as has been said you will probally need to pay a deposit and the first payment of rent around that time as well for your 2nd year house(Original post by MissZiggles)
Finally got my final SF statement saying how much money I get each term.
If I divide my total loan (after accom) I would have £77 a week but because they split my loan stupidly so I get a bigger chunk of my loan in the third term I get about £28 a week for my first two terms and £287/week in my third term.
I realize this is more than a lot of students get, my issue is WHHHYYYY? What logic is behind giving a student more money for a shorter term? Surely a bigger junk in the first term would be more logical? Buying books etc.
They should at least give you a couple of options on how you want your loan split. Guess I'll be working more hours than I thought...
(I can't get a student account so no overdraft to fall back on) -
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Re: Student Loan stupidly divided(Original post by ily_em)
It includes the summer. In the final year you will get less money because they don't include the summer after finishing uni (I guess they assume we will all get a job straight away).
its not really that, more the fact that your no longer a student by that point, and therefore not their responsibility -
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Re: Student Loan stupidly dividedStill think they should at least give you an option to have the larger cunk in the first or third term. I don't need that much money for my third term but I need it for my first.(Original post by jelly1000)
because the money you get for the third term is supposed to cover the summer as well, so from april-september so 6 months plus as has been said you will probally need to pay a deposit and the first payment of rent around that time as well for your 2nd year house -
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Re: Student Loan stupidly dividedI had this problem last year with having <£30 a week in the first term, then nearly £200 in the last. All I can suggest aside from seeing if the university has any hardship loans that you can apply for is to budget like crazy and make sure you keep tabs on everything you spend, even a bar of chocolate every now and then. Food shopping can be done for less than £20 a week, and books can always be borrowed from the library (or acquired as a PDF through some furtive Googleing...); you might not be able to go mad with a social life but it's still possible to have fun albeit on a very tight budget.(Original post by MissZiggles)
Finally got my final SF statement saying how much money I get each term.
If I divide my total loan (after accom) I would have £77 a week but because they split my loan stupidly so I get a bigger chunk of my loan in the third term I get about £28 a week for my first two terms and £287/week in my third term.
I realize this is more than a lot of students get, my issue is WHHHYYYY? What logic is behind giving a student more money for a shorter term? Surely a bigger junk in the first term would be more logical? Buying books etc.
They should at least give you a couple of options on how you want your loan split. Guess I'll be working more hours than I thought...
(I can't get a student account so no overdraft to fall back on) -
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Re: Student Loan stupidly divided(Original post by MissZiggles)
Finally got my final SF statement saying how much money I get each term.
If I divide my total loan (after accom) I would have £77 a week but because they split my loan stupidly so I get a bigger chunk of my loan in the third term I get about £28 a week for my first two terms and £287/week in my third term.
I realize this is more than a lot of students get, my issue is WHHHYYYY? What logic is behind giving a student more money for a shorter term? Surely a bigger junk in the first term would be more logical? Buying books etc.
They should at least give you a couple of options on how you want your loan split. Guess I'll be working more hours than I thought...
(I can't get a student account so no overdraft to fall back on)
Haha. Logic.
There is no logic.
The amounts given in each time are inconvenient for most people. A lot of people don't get enough to cover living expenses, because apparently someone (now an adult) with parents earning less is more deserving than someone with wealthier parents, regardless of whether or not either's parents aid them financially.
The whole system is ****ed.
