Year12Studentt
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I’m currently applying for student finance and need some advice. If I get into my firm, I plan to move out into student accommodation thus would apply for the maximum loan. However if I get into my insurance, I plan to stay at home thus apply for the minimum loan.

Should I apply for the maximum now and change it if need be? Is it easy to change all these details? I just want to make sure I don’t take out any more than I actually need.
Last edited by Year12Studentt; 4 months ago
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PQ
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Take out the maximum and pay rent to your parents. If they refuse then pay some of their bills and put the money into savings so that when you do want to move out of home you have the funds for a deposit or to get a season ticket/car and to cover the costs of buying work clothes etc.

Unless you’re expecting to earn £40k as soon as you graduate then you won’t repay your loan within the time allowed - so it won’t make any difference to the amount you repay if you borrow the minimum or the maximum.
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Year12Studentt
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(Original post by PQ)
Take out the maximum and pay rent to your parents. If they refuse then pay some of their bills and put the money into savings so that when you do want to move out of home you have the funds for a deposit or to get a season ticket/car and to cover the costs of buying work clothes etc.

Unless you’re expecting to earn £40k as soon as you graduate then you won’t repay your loan within the time allowed - so it won’t make any difference to the amount you repay if you borrow the minimum or the maximum.
Thank you. If I say on my student finance that I will be living in student accommodation but then decide to stay at home will this be easy to change before I start?
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PQ
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(Original post by Year12Studentt)
Thank you. If I say on my student finance that I will be living in student accommodation but then decide to stay at home will this be easy to change before I start?
Yes it’s pretty simple to update on your online account.
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