The Student Room Group

Is it worth applying for a maintenance loan

My course will be one day a week 8-5 the rest will be study in my own time. It is a HND and is classified as a full time course.

I have a full time job of 38 hours a week at the moment although I will cut down to about 28 over 4 days to make sure I can dedicate enough time to the course.

I could get a maintenance loan of 3,731 but am not sure it's worth it, I might just be able to afford to live still without it.
Original post by tnajamie
My course will be one day a week 8-5 the rest will be study in my own time. It is a HND and is classified as a full time course.

I have a full time job of 38 hours a week at the moment although I will cut down to about 28 over 4 days to make sure I can dedicate enough time to the course.

I could get a maintenance loan of 3,731 but am not sure it's worth it, I might just be able to afford to live still without it.


Apply now just in case you need it. It is easier to do that than apply later if you find you need it. You can always repay early or reduce your loan request.
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tnajamie
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Original post by applicationa
Apply now just in case you need it. It is easier to do that than apply later if you find you need it. You can always repay early or reduce your loan request.


Thanks for the reply :smile: I might just borrow half of it then to be safe.
Original post by tnajamie
Thanks for the reply :smile: I might just borrow half of it then to be safe.


To be fair, it's worth borrowing the full thing even if you don't need it. You'll never find another source of credit with such favourable repayment terms that also doesn't affect your credit rating.
Get as much as you can. It doesn't make a massive difference if you're paying your "loans" back for a few more years and the money is almost definitely worth more to you now than it will be in the future.

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