Student loan

Is £3.7k enough for maintance loan....considering the fact im gonna be comiing home from uni ... considering the fact parents earn less than 12k

If you're living with your parents while at uni, you could get a maintenance loan of up to £8,400. Have you completed the household income part of the student finance application?

nah i didnt lol, bcz i dont wanna pay back more... borrow less , pay less

That's not always how it works.

If you never earn enough to repay your student loan in full (likely to be about 48% of graduates under Plan 5) you will pay the same amount in total regardless of whether you take out the full maintenance loan or not.

If you do end up repaying your student loan in full, you will pay less in total compared to taking out the full maintenance loan, but even if your loan was £10,000,000 you would still be paying the same amount each month from your salary (9%).

I mean after graduating, my startin salary would be £28.4k ......... so what shall i do ?

get max maintance loan or stick with the less maintance?

I'd think you'd be better off getting the maximum because in the worst case it's just a few years extra of having the 9% salary deduction, and you will probably find the money helpful.

''he worst case it's just a few years extra of having the 9% salary deduction'' . what do u mean by thiS?

So student loan repayments work like this:
From the April after you graduate, 9% of your income over £25,000 goes toward student loan repayments until either
1) you pay off the entire loan
2) 40 years have passed and the remainder of the loan is written off.
So, an increased loan does not mean you pay more per month, or even pay more in total depending on how much in total you pay before it gets written off. The only tangible effect is that the time it would take to pay off your loan in full is increased, but this is only if had you taken the decreased loan you would have paid it off before the 40 years.
Say you had a salary trajectory like this:
Year 1-5: £25,000, paying £0 per year to SFE
Year 6-10: £35,000, paying £900 per year to SFE
Year 11-20: £45,000, paying £1800 per year to SFE
Year 21+: £55,000, paying £2700 per year to SFE
Assuming you are on a three year course at £9,250 tuition, the total value of your loan would be as such:
£38,850 – minimum maintenance loan
£52,950 – maximum maintenance loan
Plan 5 doesn't include interest, only a yearly adjustment for inflation so we're just going to assume that inflation is 0 for the next 40 years.
You would pay off the loan with minimum maintenance within just over 27 years.
You would pay off the loan with maximum maintenance within about 31 years.
That's just 4 extra years of repayments almost three decades into your career, so frankly nothing to worry about if you feel you could benefit from the money. Have you made a budget to see if you would need more?