The Student Room Group

Student Finance in Final Year

So I just got a letter through today that I'm going to get about £5000 in maintenance loan for the upcoming academic year. I received about £7400 last year though, so I called up to double check that there were no mistakes and was just told that it goes down in your final year, but almost £2500 feels like quite a steep drop?? Is this normal?
Reply 1
Original post by Strawberry Shark
So I just got a letter through today that I'm going to get about £5000 in maintenance loan for the upcoming academic year. I received about £7400 last year though, so I called up to double check that there were no mistakes and was just told that it goes down in your final year, but almost £2500 feels like quite a steep drop?? Is this normal?


Sadly they are correct. They reduce the maintenance loan in the final year because they claim in the previous years its for a full year and in the final one its for less of a year yet you are likely still paying the accommodation fees over the year and it would take you time to get a job, frankly its a bloody con. In most cases it averages a 25% drop.

See this letter to the Guardian:-
https://www.theguardian.com/education/2014/oct/03/why-do-maintenance-loans-drop-by-1000-in-final-year

I think its totally disgusting they do they do this, i have two of my own at University so it will be bank of me making up the shortfall now in year three. I mean its not like its free money, you still have to pay it off over time, why they do this beyond me, i genuinely feel for your situation but cant do a thing to help. Wish it was different,

Good luck to you
Reply 2
Original post by LsDad
Sadly they are correct. They reduce the maintenance loan in the final year because they claim in the previous years its for a full year and in the final one its for less of a year yet you are likely still paying the accommodation fees over the year and it would take you time to get a job, frankly its a bloody con. In most cases it averages a 25% drop.

See this letter to the Guardian:-
https://www.theguardian.com/education/2014/oct/03/why-do-maintenance-loans-drop-by-1000-in-final-year

I think its totally disgusting they do they do this, i have two of my own at University so it will be bank of me making up the shortfall now in year three. I mean its not like its free money, you still have to pay it off over time, why they do this beyond me, i genuinely feel for your situation but cant do a thing to help. Wish it was different,

Good luck to you

PS
Here is the SF Calculator if you want to check their calculation:-
https://www.gov.uk/student-finance-calculator

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