How much of my student loan should go towards rent at uni?
I think I'll get ~8k in maintenance loan
To an extent you should try and spend as little as possible. Having a slightly bigger bedroom won't make or break your university experience but having spare money to enjoy your time there or travel will be something you enjoy much more! Obviously it depends to an extent on your options, it's reasonable to not want to share a room for example, and some towns are just more expensive that others.
Depends on your uni and priorities. Some people would rather share a bathroom, for example, but it means they have less to live off. Personally, I want an ensuite in my room. I paid £90 pw. Look at a budget and see how much you would have left each week depending on which accomodation you stay in (you will be able to find prices of your unis accom. online).
Impossible to say outright, you rent will largely be dictated by where abouts in the county you are going to be living as some places are more expensive than others. But like someone above has said you should be aiming to pay as little for rent as is reasonably possible. Don't bother wasting money on expensive luxury accommodation or en suite if you don't need it or don't really want it, or can avoid it. As someone above said having a slightly larger room or being able to piss in your own toilet isn't likely to make your happiness at university much different, but not being able to afford to go out with your friends and worrying about money most certainly will affect your happiness.
You could be putting yourself at a financial disadvantage for the rest of the year, so choose wisely. And don't sign a tenancy agreement for anything until you are 100% sure you want to live there and have written up a yearly budget to make sure you can afford it. Remember tenancy agreements are legally binding documents, a lot of students don't realise this when they try to back out of the accommodation or just uni in general and realise they still have to pay rent.
If you need any help putting together a budget feel free to message me, I'm happy to help.
You could be putting yourself at a financial disadvantage for the rest of the year, so choose wisely. And don't sign a tenancy agreement for anything until you are 100% sure you want to live there and have written up a yearly budget to make sure you can afford it. Remember tenancy agreements are legally binding documents, a lot of students don't realise this when they try to back out of the accommodation or just uni in general and realise they still have to pay rent.
If you need any help putting together a budget feel free to message me, I'm happy to help.
Original post by Jenx301
Depends on your uni and priorities. Some people would rather share a bathroom, for example, but it means they have less to live off. Personally, I want an ensuite in my room. I paid £90 pw. Look at a budget and see how much you would have left each week depending on which accomodation you stay in (you will be able to find prices of your unis accom. online).
That's really cheap for an ensuite. Where was that?
Original post by SophieSmall
That's really cheap for an ensuite. Where was that?
Was private student halls in Nottingham called Victoria Hall - was a fab accomodation, staff are lovely and helpful
Original post by Jenx301
Was private student halls in Nottingham called Victoria Hall - was a fab accomodation, staff are lovely and helpful
Are UoN or Trent? It is just that I know a lot of people at UoN, but they all say Victoria Hall looks too far away for University Park (so they are generally stuck with much more expensive accommodation) . I just wondered about your experience with this.
Original post by Jenx301
Was private student halls in Nottingham called Victoria Hall - was a fab accomodation, staff are lovely and helpful
Oh nice, in my first year I stayed in the cheapest accommodation in the city which was I think £86 a week if I remember correctly. All the en-suites were all over £100 a week, mostly around £114 a week. funny enough there was an accommodation called Victoria hall over the road from mine
but this was in Liverpool.I found once you get into sec don year housing and out of accommodation that was when not only did costs go down but the quality of the housing improved (thicker walls, more living space, bigger bedrooms ect)
Original post by Nerwen
Are UoN or Trent? It is just that I know a lot of people at UoN, but they all say Victoria Hall looks too far away for University Park (so they are generally stuck with much more expensive accommodation) . I just wondered about your experience with this.
I'm at Trent but study at clifton - so I got the bus there anyway. It depends really how close you want to be to campus. There is a bus you can get to University Park easily but most students I guess just want to live on campus and pay for the more expensive halls for the convenience. It is mainly trent students staying at Victoria Hall though as far as I could tell.
Original post by SophieSmall
Oh nice, in my first year I stayed in the cheapest accommodation in the city which was I think £86 a week if I remember correctly. All the en-suites were all over £100 a week, mostly around £114 a week. funny enough there was an accommodation called Victoria hall over the road from mine but this was in Liverpool.
I found once you get into sec don year housing and out of accommodation that was when not only did costs go down but the quality of the housing improved (thicker walls, more living space, bigger bedrooms ect)
but this was in Liverpool.I found once you get into sec don year housing and out of accommodation that was when not only did costs go down but the quality of the housing improved (thicker walls, more living space, bigger bedrooms ect)
Ah ok cool, yeah a lot of accom can be expensive
Be as economical as possible. you don't need your own ensuite and such. Sure it would be better but it can be expensive. Take out only as much loans as you need, not want. Of course you could take out the full £8K per year but put it this way. After 3 years, you'll have incurred £27K in tuition debt and £24K in maintenance loan debt. That's £51K. You'll NEVER pay that off. You'll be paying that for 30 years. Sure they get wiped after 30 years but thats the current system. You could be affected by retroactive changes in the loan agreements which could financially sting you.
Original post by Jenx301
I'm at Trent but study at clifton - so I got the bus there anyway. It depends really how close you want to be to campus. There is a bus you can get to University Park easily but most students I guess just want to live on campus and pay for the more expensive halls for the convenience. It is mainly trent students staying at Victoria Hall though as far as I could tell.
I think it is only really expensive after the first year (and there is plenty of off campus accommodation too). There are enough cheap houses in Lenton and Beeston (which are within walking distance of University Park) for further years to make living in town unnecessary I guess.
I just hadn't heard of a UoN student choosing Victoria Hall over Lenton is all, and I wondered if the up to 40 minute (in traffic) bus journeys were worth it for the price.
While you couldn't help with my overall query, thank you for responding.
Original post by Nerwen
I just hadn't heard of a UoN student choosing Victoria Hall over Lenton is all, and I wondered if the up to 40 minute (in traffic) bus journeys were worth it for the price.
Probably not in my opinion, which is why it's mainly trent students. You would also have to buy a bus pass for the year (although you may have to anyway if you plan to go into town often).
np x
Original post by marco14196
Be as economical as possible. you don't need your own ensuite and such. Sure it would be better but it can be expensive. Take out only as much loans as you need, not want. Of course you could take out the full £8K per year but put it this way. After 3 years, you'll have incurred £27K in tuition debt and £24K in maintenance loan debt. That's £51K. You'll NEVER pay that off. You'll be paying that for 30 years. Sure they get wiped after 30 years but thats the current system. You could be affected by retroactive changes in the loan agreements which could financially sting you.
The 8k is pretty much necessary for me, my parents aren't very well off so I'll need as much financial support as possible
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