Help; Going to uni and have no idea what to do about finance situation
Hey guys,
Hope you can give some advice into the problem I’m facing?
So I’m 26 and decided to go to uni for next year intake (sept 2022) to study social work. I’ll be taking the foundation entry route and I’m currently living in MK. I’m already dead set that I don’t want to live in halls.
So my question is this?
Would it be worth commuting an hour a day one way to get to uni,(Milton keynes and back) or move to birmingham and get a shared place? What does student finance and matience loan actually pay out and would I need to save money before heading? I know I would have to give up my full time job well paid job to be able to do this. I have no help from parents or friends so how do people manage their limited money at uni?
Hope you can give some advice into the problem I’m facing?
So I’m 26 and decided to go to uni for next year intake (sept 2022) to study social work. I’ll be taking the foundation entry route and I’m currently living in MK. I’m already dead set that I don’t want to live in halls.
So my question is this?
Would it be worth commuting an hour a day one way to get to uni,(Milton keynes and back) or move to birmingham and get a shared place? What does student finance and matience loan actually pay out and would I need to save money before heading? I know I would have to give up my full time job well paid job to be able to do this. I have no help from parents or friends so how do people manage their limited money at uni?
From what I understand student finance pays out based on your current situation (previous earnings, work situation, family support) So it's probably best to just apply to it and see what you're getting before you decide? Definitely depends on your method of commuting though and how expensive that is.
That being said if you DO end up moving definitely save up first, a friend of mine found that student finance didn't pay her maintenance loan until after her first rent was due, which ended up being a lot of stress.
That being said if you DO end up moving definitely save up first, a friend of mine found that student finance didn't pay her maintenance loan until after her first rent was due, which ended up being a lot of stress.
I'd say an hour commute isn't TOO bad, but you'd have to ensure this doesn't demotivate you from attending lectures a few months into uni after the ''newness'' has expired. You could probably try looking for a 1-bed flat close by, they would be solo-living, and you wouldn't need to share. If you decide to share, it's not too bad, and you get used to living with others quite quickly. Bonus if you can get along with flatmates as they can become friends for life and your experience at uni would definitely improve. I lived in halls, so I can't give you any further opinions on private renting/sharing a flat.
Go to the student finance website and start the application process; you will quickly find out how much you are eligible for. Assuming you get maximum mantaince loan, you could potentially get around £9-9.4K; this would have to be budgeted to account for rent, food and living expense - a lot of students do get a part-time job, and your university should frequently have job opportunities listed. Of course, take the initiative and find a part-time job yourself asap. Saving money would be very wise and will help you out, especially in the beginning as you settle in. Student loans are paid in 3 instalments, I believe, so if you don't get a job, you need to make sure you have money between instalments. I recommend opening a student bank account because many of them give you an interest-free overdraft that comes in handy for some.
Go to the student finance website and start the application process; you will quickly find out how much you are eligible for. Assuming you get maximum mantaince loan, you could potentially get around £9-9.4K; this would have to be budgeted to account for rent, food and living expense - a lot of students do get a part-time job, and your university should frequently have job opportunities listed. Of course, take the initiative and find a part-time job yourself asap. Saving money would be very wise and will help you out, especially in the beginning as you settle in. Student loans are paid in 3 instalments, I believe, so if you don't get a job, you need to make sure you have money between instalments. I recommend opening a student bank account because many of them give you an interest-free overdraft that comes in handy for some.
Original post by Kerzen
Why are you 'dead set that [you] don’t want to live in halls'?
Hey, i think its just cause i've lived by myself since I was 14 and im now 26. The idea of halls just reminds me of people constantly partying and not cleaning up after themselves lol.
Original post by LaurenB2325
Hey, i think its just cause i've lived by myself since I was 14 and im now 26. The idea of halls just reminds me of people constantly partying and not cleaning up after themselves lol.
I still think that Halls is better than the commute.
I would suggest speaking to Accommodation about which one would be quietest for you; it may be that one of the Halls has more PGs, which may be more to your taste.
https://www.bcu.ac.uk/student-info/accommodation/halls
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