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I can't afford university.

So I've applied for student finance, and because of my parents income I'll get just over £5000 maintenance loan, and I don't qualify for a grant. The trouble is my accommodation alone is pretty much £5000 so I'll really be struggling with money. Although my parents do earn a fair amount between them, as much as they said they'd like to they will not be able to help me out financially bar the odd tenner here and there due to debt repayments, mortgages etc. that they have to pay each month. Obviously I'll get a part time job whilst I'm attending university but I'm worried that this still won't be enough for me to live on, and to also enjoy myself!
I'm sure the majority of you are in the same boat as me, so what other finance could I apply for to help me out?

Reply 1

heshop

9

Original post by becca0121

So I've applied for student finance, and because of my parents income I'll get just over £5000 maintenance loan, and I don't qualify for a grant. The trouble is my accommodation alone is pretty much £5000 so I'll really be struggling with money. Although my parents do earn a fair amount between them, as much as they said they'd like to they will not be able to help me out financially bar the odd tenner here and there due to debt repayments, mortgages etc. that they have to pay each month. Obviously I'll get a part time job whilst I'm attending university but I'm worried that this still won't be enough for me to live on, and to also enjoy myself!
I'm sure the majority of you are in the same boat as me, so what other finance could I apply for to help me out?

That accommodation sounds very expensive, is there nothing cheaper that you can change to? Is the uni in London?

Reply 2

Mellomum

You don't say which university has made you an offer but many universities have extra funds especially for hardship cases. There are also scholarships. Many universities have other funds to attract students from their immediate locality , do you have the option to live at home whilst studying? Not ideal but would save quite a bit.

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Reply 3

JayReg

14

You may have to spend your summer working as well.

Reply 4

Messalina

15

Try:

a) University bursaries/grants - I got one for £1000 a year, split over 4 installments every quarter, with about the same maintenance loan as you I think
b) Part time work - not just a normal part time job like bar work, although obviously that's handy, but the odd temp job or uni experiment (lots of PhD student experiments will pay you for your time if you take part, for example last week I did a debate afternoon about views on values for a psychology thesis, got paid a tenner for the 4 hours it took from my afternoon (and free lunch!!)
c) buy your food shop once a week, budget ahead of time and eat lots of tesco value stuff
d) try not to spend too much on going out - in first year I foolishly wasted my overdraft on going out and drinking at clubs, some places will charge 3.50 for a bottle of lager or VK, whereas if you do drink, predrinking with pals is a lot cheaper
e) get an overdraft for emergencies, but DON'T spend it like its your money. I promise you it makes life harder in the long run!
f) if you do completely run out of money, i.e. can't afford to eat, you can ask your uni's student services team for a short term emergency loan - my uni can lend up to £250 at a time, and it can help tide you by until your next loan payment (although obviously you do have to pay it back in full!)

Reply 5

Doglamlico

16

This is a huge flaw in the finance system, as admitted by the SF people themselves.

Out of curiosity, how come your accommodation is so expensive? It should be way less than £5000 at Sheffield, and even in London it shouldn't be that much.

Spoiler

From what I've seen/read, £6-8000 is meant to be enough, so you'll need to find a way to earn an extra ~£2000. I guess you'll have to find a job during the holidays?

(edited 10 years ago)

Reply 6

lozzielizzie

14

Don't moan, I get 3575 from student finance. Get a job, it's your only option if you want uni this year. Otherwise take a gap year and get a job and save. My loan doesn't cover my accommodation but I been saving since October to cover myself. I started saving pretty much as soon as I decided to go to uni. Admittedly I work full time currently, I been putting over half my salary away for uni. Because no one going to help me, with money for uni. I'll be paying all my cost of my own back. But that's being independent supporting yourself. I rather pay my way, then get money from someone else.

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Reply 7

becca0121

OP

Original post by The Polymath

This is a huge flaw in the finance system, as admitted by the SF people themselves.

Out of curiosity, how come your accommodation is so expensive? It should be way less than £5000 at Sheffield, and even in London it shouldn't be that much.

Spoiler

From what I've seen/read, £6-8000 is meant to be enough, so you'll need to find a way to earn an extra ~£2000. I guess you'll have to find a job during the holidays?

https://selfservice.ntu.ac.uk/pls/selfservice/bwskambd.p_buildingdetail?bldg=PEV
this is the cheapest accommodation on my campus unfortunately. I also have a part time job at the moment, but living in a rural town with a handful of shops and no car gives me limited options! :frown:

Reply 8

becca0121

OP

Original post by Mellomum

You don't say which university has made you an offer but many universities have extra funds especially for hardship cases. There are also scholarships. Many universities have other funds to attract students from their immediate locality , do you have the option to live at home whilst studying? Not ideal but would save quite a bit.

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Nottingham Trent, and my campus is Clifton. It is very expensive and I can't fathom why haha, I've had a look at the bursaries they offer, but due to my parents financial income I don't qualify for anything really! Bummer! Nottingham is about 82 miles from my hometown, so residing at home is not an option unfortunately!

Reply 9

Tiger Rag

22

Bursaries and grants are based on income. Scholarships aren't.

OP - if you open a student account, you can also get an interest free overdraft. Your SU should have jobs going too.

Have you looked into renting privately?

Reply 10

TenOfThem

18

Original post by becca0121

Nottingham Trent, and my campus is Clifton. It is very expensive and I can't fathom why haha, I've had a look at the bursaries they offer, but due to my parents financial income I don't qualify for anything really! Bummer! Nottingham is about 82 miles from my hometown, so residing at home is not an option unfortunately!

I thought the max loan was 3575

How are you getting 5000

Reply 11

Tiger Rag

22

Original post by TenOfThem

I thought the max loan was 3575

How are you getting 5000

£3575 is the non-means tested loan outside of London.

Reply 12

becca0121

OP

Original post by OU Student

Bursaries and grants are based on income. Scholarships aren't.

OP - if you open a student account, you can also get an interest free overdraft. Your SU should have jobs going too.

Have you looked into renting privately?

I found this on their website:
"We will be awarding NTU Scholarships of £1,400 per academic year [...] have a household income of £30,000 per year or less (as assessed by their national Student Finance Service) and have qualified for a maintenance grant for living costs."
I don't fall under that category, I'll check out the student accounts, thank you! :-)

Reply 13

TenOfThem

18

Original post by OU Student

£3575 is the non-means tested loan outside of London.

Ah, I see

(edited 10 years ago)

Reply 14

becca0121

OP

Original post by TenOfThem

yes, that was what I said

That's the maximum loan they give you if you choose not to be assessed on your household income

Reply 15

Slowbro93

20

Original post by becca0121

That's the maximum loan they give you if you choose not to be assessed on your household income

I've just had a look on their website and they also have accommodation that is cheaper (College Drive) for £3600. https://selfservice.ntu.ac.uk/pls/selfservice/bwskambd.p_buildingdetail?bldg=H01

Reply 16

Klix88

17

Original post by cpdavis

I've just had a look on their website and they also have accommodation that is cheaper (College Drive) for £3600. https://selfservice.ntu.ac.uk/pls/selfservice/bwskambd.p_buildingdetail?bldg=H01

Sadly that's for postgrads or mature students only.

Reply 17

Slowbro93

20

Original post by Klix88

Sadly that's for postgrads or mature students only.

Oh wow

Reply 18

Ehunt

3

Hi, was just wondering if you ended up going to university, and have you managed to afford it? My loan will barely cover the rent, so was wondering if a part time job while studying will be sufficient?

Reply 19

Tiger Rag

22

Original post by Ehunt

Hi, was just wondering if you ended up going to university, and have you managed to afford it? My loan will barely cover the rent, so was wondering if a part time job while studying will be sufficient?

Hi, this is an old thread. You're better off starting your own thread. Thanks.

I can't afford university.

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