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Im scared about financial problems regarding Uni - Help?! watch

    • Thread Starter

    Hi guys.

    the fees are paid straight to the uni from student finance, you never touch the money. so dont worry about that

    you get a maintenance loan which is roughly 3500

    if your parents earn under a certain amount you get a maintenance grant too (and the uni may well give you money too)

    for the rest of the money you need. basically get a job

    (Original post by Milani)
    I've got a job lol and believe me Im trying to save but the pay & hours are shiiiiiiiiiiit!

    So do I get a seperate loan to cover my uni tuition fees to the one that covers accomodation?
    There are two loans, a tuition fee loan, and a maintenance loan.

    The tuition fee loan goes straight to your university; you don't see it, SFE and your uni sort it out between them instead.

    The maintenance loan goes to you and it's for you to spend as you like. Obviously for most people this is on accomodation, but there's nothing that says you can't go and blow it all on expensive gadgets and going out if you feel like it. :p:

    How much maintenance loan you get depends firstly on where you study (in London, or out of London) and how much your parents earn/how much grant (money you can also get that you don't have to pay back) you can get.

    It's a little complicated to explain because the more grant you get, the less loan you get but the more overall money you get.

    A rough guide for household income (outside London-in London you get considerably more loan but the same amount of grant).

    Under 25k: maximum available. Outside London this is about 3.5k loan, 2.9k grant, works out at about £6400 total.

    Between 25k and 50k-between the maximum through various combinations until you get £4950 loan and £50 grant (roughly-not exact figures) at 50k.

    Between £50k-60k, a loan between £4950 and £3564 but no grant.

    Above 60k: Basic loan of £3564. This is the amount everyone (living away from home) is entitled to.

    There's also some adjustment made from having other siblings at home/at uni etc (but not much of one).

    Also, all unis have to offer a minimum bursary of about 300 odd pounds to you if you get the maximum grant and in London it can really be substantial, but the average tends to be between £500 and £1000.
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