As a uni student, how much is it normal to have saved?

spicyoo

Just curious

Reply 1

username6126085

i've got about 5000
although a lot of that is unspent maintenance loan...

Reply 2

spicyoo

Original post by neckbite

i've got about 5000
although a lot of that is unspent maintenance loan...

same, i'm trying to save all my maintenance loan other than paying rent (I get max :biggrin:

) and just spend the money from my weekend job day to day

Reply 3

username6126085

Original post by spicyoo

same, i'm trying to save all my maintenance loan other than paying rent (I get max :biggrin:

) and just spend the money from my weekend job day to day

im not gonna take loan next year cos the interest is insane tho

Reply 4

spicyoo

Original post by neckbite

im not gonna take loan next year cos the interest is insane tho

I'm in a useless degree so i've just accepted I won't ever pay it anyway

like 99 quid🤡

Clearing and Applications Advisor, Universities Forum Helper

Original post by neckbite

im not gonna take loan next year cos the interest is insane tho

Then you don't understand how student loans work - the interest rate is largely irrelevant. I recommend you read the following article before you make the decision not to apply for student finance:

https://www.moneysavingexpert.com/students/student-loans-2023/

Reply 7

username6126085

Original post by normaw

i have don't worry. i understand the repayment process and repaying threshhold income, but i intend to pay off the loan quite soon after university, not have it racking up interest for like 20 years. i understand the way you repay the loan makes it more like a tax than a typical loan, but seeing as i plan to pay it off, there's no point taking more than i need and having to pay the interest on that too