The Student Room Group

Maintenance loan just won't be enough

I'm a year 12 student and can only apply for a maintenance loan of up to £5812 but just the accommodation costs alone would cost me £11,169. This is because although my parents earn a good amount, they spend a lot of it and they have no savings accounts for me or any way of giving me financial help through university. Is there any way i can make the extra £5357?

Scroll to see replies

Reply 1
If your parents wont contribute then you will need to get a job - why is your accomadation so expensive? surely you can find cheaper
Reply 2
It's because it's in central London. There are some cheaper options but they're an hour away from the campus. Even the cheaper ones are around £8000
Original post by Jenx301
If your parents wont contribute then you will need to get a job - why is your accomadation so expensive? surely you can find cheaper
930.75 per month, are you renting a entire house or paying for a mortgage
You probably should have picked a uni outside London. No offense but when deciding what uni to go you really should of considered accommodation costs but I believe that is too late for you?
Original post by shawmc2002
I'm a year 12 student and can only apply for a maintenance loan of up to £5812 but just the accommodation costs alone would cost me £11,169. This is because although my parents earn a good amount, they spend a lot of it and they have no savings accounts for me or any way of giving me financial help through university. Is there any way i can make the extra £5357?
Original post by shawmc2002
It's because it's in central London. There are some cheaper options but they're an hour away from the campus. Even the cheaper ones are around £8000


I lived almost an hour away from my uni in first year and it was fine. You should go for the cheaper accommodation, and get a job to save as much as you can.
Original post by shawmc2002
I'm a year 12 student and can only apply for a maintenance loan of up to £5812 but just the accommodation costs alone would cost me £11,169. This is because although my parents earn a good amount, they spend a lot of it and they have no savings accounts for me or any way of giving me financial help through university. Is there any way i can make the extra £5357?


Where are you thinking of going that accommodation would cost that much? Even in London, there will be cheaper options. You may have to accept that you're not going to be able to afford the nicest options.

Firstly, your parents have a responsibility to support you. To get that type of reduction in your loan, they must be earning a large amount and they could almost definitely afford to offer you something. You should sit down and have a full discussion with them- are they really prepared to offer you nothing? If your parents won't help, do you have any grandparents etc that you could talk to?

Secondly, many unis do offer scholarships and bursaries which may help you in covering costs.

Thirdly, a large number of students do have to take on part time work during uni. This can be beneficial, as it'll look good on your CV and give you lots of life skills.
Reply 7
well there is no point applying for acomadation you can't afford. You can't change the amount of your loan, so if your parents will not help you then you will have to find somewhere you can afford to live whether that means getting a job or moving further away
Original post by shawmc2002
It's because it's in central London. There are some cheaper options but they're an hour away from the campus. Even the cheaper ones are around £8000
Can't you find cheaper accomodation? 11k is expensive, even for London.
Reply 9
no its not, I dont apply til around november-ish this year.

Original post by SimpleMathsPhys
You probably should have picked a uni outside London. No offense but when deciding what uni to go you really should of considered accommodation costs but I believe that is too late for you?
Original post by unexpecteduk
930.75 per month, are you renting a entire house or paying for a mortgage


There are no words to express the strong emotions of passion and love I have for you.

Wait, there are. Passion and love.
and lust.

Original post by shawmc2002
It's because it's in central London. There are some cheaper options but they're an hour away from the campus. Even the cheaper ones are around £8000


Living an hour from campus isn't that bad. I live about an hour and twenty minutes (was one and a half) from mine at the moment, it's doable, not ideal though. It's free too! (Yay)

Sadly the loans folk don't care if your parents don't give you a penny... I never really understood it myself. In the current society of kids leeching off their parents being a thing (hey, I'm one of them. Not going to deny it's a problem, though) it seems a bit odd that the whole way that students get their allowance just pushes that forward.

The typical thing that people seem to do in your situation would be to ask for a grant or get a job... grants are usually household means tested, which is just that whole pile of nonsense all over again, and getting a job to cover the amount of cash you're after is going to get in the way of your studies pretty badly...

Perhaps asking your parents for help? ;-;
https://halls.london.ac.uk/clandon-house isn't that far out and the cheapest room comes in at just over £4000 for a year. Obviously you'd still have to supplement your loan somehow as you'd have living and travel costs, but with a part time job that should be very affordable.

Most central london universities do also offer some financial support in the form of scholarships or bursaries.
Kings College London. Looking at their residences, the Stamford street one costs £8200 for a 40 week contract.
1) yeah my parents have basically said that they aren't really able to give me anything to help with my university fees, I can try talk to them again but I have a feeling its just going to go the same way. As for grandparents, they're much worse-off and there is no way they could help.
2) well to get those bursaries you normally need to have a low household income which I dont so i dont really qualify for any bursaries.
I will definitely need to work but I was just wondering if I could realistically work enough hours to get the money I need and to work for my degree. I just don't know how I would fit it all in.
Original post by SarcAndSpark
Where are you thinking of going that accommodation would cost that much? Even in London, there will be cheaper options. You may have to accept that you're not going to be able to afford the nicest options.

Firstly, your parents have a responsibility to support you. To get that type of reduction in your loan, they must be earning a large amount and they could almost definitely afford to offer you something. You should sit down and have a full discussion with them- are they really prepared to offer you nothing? If your parents won't help, do you have any grandparents etc that you could talk to?

Secondly, many unis do offer scholarships and bursaries which may help you in covering costs.

Thirdly, a large number of students do have to take on part time work during uni. This can be beneficial, as it'll look good on your CV and give you lots of life skills.
thats actually quite good, only being a 30 min walk from the campus as well. Thank you I'll look into this
Original post by SarcAndSpark
https://halls.london.ac.uk/clandon-house isn't that far out and the cheapest room comes in at just over £4000 for a year. Obviously you'd still have to supplement your loan somehow as you'd have living and travel costs, but with a part time job that should be very affordable.

Most central london universities do also offer some financial support in the form of scholarships or bursaries.
I mean that does seem like the simple idea lol but I like London as a place and I just feel like I'll be happier there. Basically, it would be my dream and I dont want to give up just yet

Original post by mpaprika
you haven't applied yet so maybe you can just.. find another uni? :dontknow:
Do your parent earn less than £60k per year?
Original post by shawmc2002
no its not, I dont apply til around november-ish this year.


Okay that's great. You have 2 options: Find cheaper accommodation, Or find another university to go that is outside London considering that they tend to be cheaper though either way choose the best uni for your situation.
yeah I completely understand, I actually want to apply to KCL as well but now that I read the accommodation cost I'm feeling a bit sick ahaha
Original post by shawmc2002
I mean that does seem like the simple idea lol but I like London as a place and I just feel like I'll be happier there. Basically, it would be my dream and I dont want to give up just yet
combined, no
Original post by TensorTympani
Do your parent earn less than £60k per year?
Original post by shawmc2002
Kings College London. Looking at their residences, the Stamford street one costs £8200 for a 40 week contract.
1) yeah my parents have basically said that they aren't really able to give me anything to help with my university fees, I can try talk to them again but I have a feeling its just going to go the same way. As for grandparents, they're much worse-off and there is no way they could help.
2) well to get those bursaries you normally need to have a low household income which I dont so i dont really qualify for any bursaries.
I will definitely need to work but I was just wondering if I could realistically work enough hours to get the money I need and to work for my degree. I just don't know how I would fit it all in.


Kings College offer a range of financial support, and it's not all dependent on household income. There's more information here:
https://www.kcl.ac.uk/study/undergraduate/fees-and-funding/student-funding/scholarships-and-bursaries

Intercollegiate halls (I linked an example up thread) work out a lot cheaper than accommodation near kings. Alternatively, you could look at rooms in shared houses, which again may be cheaper.

20 hours at minimum wage would give you £118 a week. That would cover a good percentage of your accommodation costs and then you'd have your loan to live off of. Lots of people do work this amount during term time, and you can work more during holidays.

I do think you also need to discuss a realistic plan with your parents- not an "I want the most expensive accommodation in an expensive city". If they see you're being more realistic, they may be more willing to help.

Quick Reply

Latest

Trending

Trending