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How much of your student loan did you have left after paying rent

UnKoWn_AdventurE

How much did you guys have left to survive the year?

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Reply 1

UnKoWn_AdventurE

Did you go to a university in London?

Reply 2

DezertUK

In the red till April thanks to how the students finance payments are spread out. Basically living off the money I get from work.

Reply 3

lauraleech

I got the max loan of 8700£ and my accomodation was about 5k as i got a grant but i dont remember ever having that much money left over, food, train tickets and stuff :/ i also remember paying freshers chargers for memberships etc that were compulsory which came to about 250£ extra and there were loads of events, so first term was more expensive. also having to pay deposits for a new house which was another 400£

(edited 4 years ago)

Reply 4

UnKoWn_AdventurE

Original post by lauraleech

I got the max loan of 8700£ and my accomodation was about 5k as i got a grant but i dont remember ever having that much money left over, food, train tickets and stuff :/

Damn I have about 4500 something left over after I pay rent and I’m hoping that’s enough, it seems like it would be enough🥴

Reply 5

texet

Original post by UnKoWn_AdventurE

Damn I have about 4500 something left over after I pay rent and I’m hoping that’s enough, it seems like it would be enough🥴

Should be, over 44 weeks that 102/week. Spending around £10 everyday should leave you with £50, and when you don't spend it would just move over to the next week. If you can budget, that money can go a long way.

Reply 6

Jessicafreya0

I think just over £6 grand left for the full academic year after paying for rent from the maintenance loan

Reply 7

Rhodesian

I’m only gonna have around £2 grand after which is very bad.

Planning on getting a job and living of off that the first year.
I’ll probably stay during Christmas to work.

Problem with my uni is that you pay for accommodation 3 times over the three terms. This means when I start September I’m gonna have to pay around 2 grand for the first term of accommodation. Maintenance loan is only giving me 2 grand at the beginning as well.

So the first term for me is going to be very scary. I’m going to ask my parents if they can help and if not I’ll just take out an overdraft.

Reply 8

Jessicafreya0

^^^ how has that even happened?

(edited 4 years ago)

Reply 9

Rhodesian

Original post by Jessicafreya0

^^^ how has that even happened?

Honestly it’s because I was stupid.

I applied to accommodation before I applied to student loans so I didn’t know how much I’d be getting. And me being the naive person I am, I applied for the most expensive accommodation.

After I realised I just hoped I wouldn’t get it but I did.

And I only realised the the scheduled payments for the accommodation last night. And when I realised I got so stressed out.

Ironically my friend who’s a lot richer than me and applied to the same accommodation got a way cheaper, more than half, accommodation that’s shared bathroom and he’s livid about that.

So yeah, bad planning on my part. And lesson learnt I guess. I’m sure I’ll make it through but this really isn’t the best way to start university 😂

Reply 10

muqeet137

I'll be getting max loan of £8900 and my accomodation costs £6500 so it may be a bit tight but I think I'll be able to manage since I'm eligible for a £2k bursary which would come in November. So I've got to limit my spending the first few months lol.

Reply 11

lauraleech

Original post by Jessicafreya0

I think just over £6 grand left for the full academic year after paying for rent from the maintenance loan

Omg how cheap is your rent?! Where is this lol

None!

@lauraleech ermmm my rent is,

£5,533.20
£21.20 per night

Move in date: 21/09/2019
Departure date: 07/06/2020

This is the university of East London

Xoxo

Reply 14

Jessicafreya0

@lauraleech but my maintenance loan is high I think

My maintenance loan is £11,672 so I’ll have £6,138.80 left after rent

X

Reply 15

Jessicafreya0

@Rhodesian ohhh god bless you! Don’t worry I’m sure you’ll be able to make it work x

Reply 16

texet

Original post by lauraleech

Omg how cheap is your rent?! Where is this lol

My rent is only 3,200 the whole year, haha.
University of Sheffield ftw

Reply 17

sciencequestion8

I’m having to live at home. The maximum maintenance loan I could get is £4500 and the accommodation I got offered is £6500. That would leave me -£2000 left over and I’m pretty sure you can’t buy essentials with that.