Does a maintenance loan cover all costs when living away???
I am from quite a disadvantaged background so I think I would be close to getting the maximum maintenance loan for Uni. My issue is that to go into the Uni's I want, I would have to travel far away and was wondering if a maintenance loan covers accommodation, food and travel (Basically everything for 3 years providing I keep costs low)? Thanks
Original post by Anonymous
I am from quite a disadvantaged background so I think I would be close to getting the maximum maintenance loan for Uni. My issue is that to go into the Uni's I want, I would have to travel far away and was wondering if a maintenance loan covers accommodation, food and travel (Basically everything for 3 years providing I keep costs low)? Thanks
It depends. Sometimes it does eg. For Cambridge, accommodation costs like 2000-5000 a year, add costs to that its like 8000 to budget and the maintenance loans just about covers it. However, in London and more expensive areas like Edinburgh, unis say to budget 10-12000 for accommodation and living perhaps more but the maximum loan is only like 9 or 10 thousand or something in not sure so your parents would have to put down some extra money there. Or alternatively you could work at uni if they let you with your degree.
In general, most costs are covered
Original post by Anonymous
I am from quite a disadvantaged background so I think I would be close to getting the maximum maintenance loan for Uni. My issue is that to go into the Uni's I want, I would have to travel far away and was wondering if a maintenance loan covers accommodation, food and travel (Basically everything for 3 years providing I keep costs low)? Thanks
As you say, if you keep costs low, then yes.
Also if you qualify for the full (or nearly full) maintenance loan you may be eligible for additional help (bursary) from your university. Also some offer academic scholarships (up to £2k in some cases) for some courses.
Eg http://www.surrey.ac.uk/content/undergraduate-tuition-fees-bursaries-scholarships
Posted from TSR Mobile
Original post by isabella1999
It depends. Sometimes it does eg. For Cambridge, accommodation costs like 2000-5000 a year, add costs to that its like 8000 to budget and the maintenance loans just about covers it. However, in London and more expensive areas like Edinburgh, unis say to budget 10-12000 for accommodation and living perhaps more but the maximum loan is only like 9 or 10 thousand or something in not sure so your parents would have to put down some extra money there. Or alternatively you could work at uni if they let you with your degree.
In general, most costs are covered
In general, most costs are covered
Thanks
As you said about how the maintenance loan nearly covers costs if you live away from the city, does that loan reset every year? As in say you obtain 6000 on one year and that covers all the costs in that year, do you get 6000 the next? And do a lot of uni's have jobs on campus??Original post by Anonymous
I am from quite a disadvantaged background so I think I would be close to getting the maximum maintenance loan for Uni. My issue is that to go into the Uni's I want, I would have to travel far away and was wondering if a maintenance loan covers accommodation, food and travel (Basically everything for 3 years providing I keep costs low)? Thanks
No I get the maximum loan and that doesn't cover the cost of my unis accommodation (My uni only has one accommodation option)
Though I am aware all unis vary
Original post by jneill
As you say, if you keep costs low, then yes.
Also if you qualify for the full (or nearly full) maintenance loan you may be eligible for additional help (bursary) from your university. Also some offer academic scholarships (up to £2k in some cases) for some courses.
Eg http://www.surrey.ac.uk/content/undergraduate-tuition-fees-bursaries-scholarships
Posted from TSR Mobile
Also if you qualify for the full (or nearly full) maintenance loan you may be eligible for additional help (bursary) from your university. Also some offer academic scholarships (up to £2k in some cases) for some courses.
Eg http://www.surrey.ac.uk/content/undergraduate-tuition-fees-bursaries-scholarships
Posted from TSR Mobile
Hi, does the loan reset every year?
Original post by Anonymous
No I get the maximum loan and that doesn't cover the cost of my unis accommodation (My uni only has one accommodation option)
Though I am aware all unis vary
Though I am aware all unis vary
Are you living in a major city or further outwards? And how much roughly do you need additionally to cover costs in that year?
Original post by Anonymous
Hi, does the loan reset every year?
You get an additional loan every year. The figures you are reading are annual figures.
Original post by Anonymous
Hi, does the loan reset every year?
Yes, you have to reapply every year.
Original post by Anonymous
Thanks As you said about how the maintenance loan nearly covers costs if you live away from the city, does that loan reset every year? As in say you obtain 6000 on one year and that covers all the costs in that year, do you get 6000 the next? And do a lot of uni's have jobs on campus??
As you said about how the maintenance loan nearly covers costs if you live away from the city, does that loan reset every year? As in say you obtain 6000 on one year and that covers all the costs in that year, do you get 6000 the next? And do a lot of uni's have jobs on campus??Yes it is a yearly loan I'm pretty sure
and quite a few do like in the bars or research labs and library etc so that is an option, unless you are thinking medicine in which case they say no jobs at all in most unis as it distracts from your studies (my position hahaha)Oh also, most unis have additional bursaries on top of government loans for people from middle-disadvantaged backgrounds. It's probably worth looking into that! And they do not have to be repaid usually
It depends on where you are, your university will probably be able to give you an indication of the cost of living on the finance part of their website so if you use that and have a think about other expenses you may incur, you'll be able to work it out.
If you're looking for additional bursaries, you might be out of luck depending on your postcode, so maybe check if you'd be eligible for any additional bursaries/academic scholarships before deciding on a university. If you are, then you will be fine in an expensive city, but if you're not, then I'd suggest looking for a university that has relatively cheap accommodation and cost of living.
I got the maximum maintenance loan and grant, but was not eligible for any bursaries because of my postcode... even though I fit every other criteria needed. So just watch out for that!
I got the maximum maintenance loan and grant, but was not eligible for any bursaries because of my postcode... even though I fit every other criteria needed. So just watch out for that!
Original post by Anonymous
Hi, does the loan reset every year?
Yes.
as long as you don't pick a notoriously expensive area (e.g. London) then you should be fine on the maximum loan obviously working in the year or two up to uni and saving some money will enable you to be a bit more frivolous and have more fun
obviously working in the year or two up to uni and saving some money will enable you to be a bit more frivolous and have more fun
I would imagine so if you budget appropriately, I'm still intending to find a part time job just because it'll mean I'll have some extra money and some experience.
Quick Reply
Related discussions
- Accommodation and university fees
- Studying at London for university from 2024 - financial enquiry
- Maintenance loan
- Medicine at university
- Student Accomodation (pls help)
- Paying for university accomodation
- Nursing Financial Support
- Medicine 2nd Degree
- Minimum Maintenance Loan Final year
- How much should I have saved for uni??
- How can people afford a Masters and live away?
- financing uni😭
- Worried about son who wants to move out, will he be able to afford it?
- Maintance loan won't cover living
- Confused on small things about uni
- Mature student - maintenance value
- Should I take a gap year to make money?
- University accommodation
- 0F and First Year of Uni to survive?
- Maintenance loan not covering rent? & Budgeting help
Latest
Trending
Last reply 3 weeks ago
Got a third in my second year and the highest I’ve achieved in third year was 55%Trending
Last reply 3 weeks ago
Got a third in my second year and the highest I’ve achieved in third year was 55%
