Is this good student finance?

Hello im just wondering if this is a good finance to be on? I filled out the fiance calculator and this is the figures i got. Are they any good?

Home Not at home

Maintenance Loan - Paid directly to you £2698 £3823
Long Courses Loan - Paid directly to you £54 £83
Tuition Fee Loan - Paid directly to your college/university £9000 £9000 Higher Education Maintenance Grant - Paid directly to you £3354 £3354

Reply 1

Knalchemist

Original post by BradleyAllison

It's more than most people get.
That will cover your accommodation costs and leave you with more than enough to live on.

Reply 2

BradleyAllison

Original post by Knalchemist

It's more than most people get.
That will cover your accommodation costs and leave you with more than enough to live on.

Thank You, I wasn't sure as it's just random figures :smile:

Do you mind if i could just ask you a couple of questions about uni?

Reply 3

Knalchemist

Original post by BradleyAllison

Thank You, I wasn't sure as it's just random figures :smile:

Do you mind if i could just ask you a couple of questions about uni?

Of course

Reply 4

BradleyAllison

OKay so where do you exactly live? Like do you have to organise your own accomidation or do the university do it for you?

Reply 5

TenOfThem

Original post by BradleyAllison

OKay so where do you exactly live? Like do you have to organise your own accomidation or do the university do it for you?

Hi

Are you looking at university in september 2013

Reply 6

BradleyAllison

Original post by TenOfThem

Hi

Are you looking at university in september 2013

No its for 2014 :smile:

Reply 7

TenOfThem

Original post by BradleyAllison

No its for 2014 :smile:

You will apply between Sept and Jan

You will (hopefully) receive offers and accept one as your firm choice ... by next May

They will then send you details of how to apply for students accommodation

Most universities offer accommodation (flats or rooms) for first years and then people egt together in groups to find somewhere to rent after that

Reply 8

Knalchemist

Original post by BradleyAllison

OKay so where do you exactly live? Like do you have to organise your own accomidation or do the university do it for you?

You have to organise your own accommodation yourself.

Your university will more than likely have halls of residence. Take a look at the universities website and type in accommodation in to their search engine or something. It will tell you on there how to arrange accommodation etc.

Also, for some uni's you have to pay a deposit when applying.

Reply 9

BradleyAllison

Original post by TenOfThem

oh okay, and do i share these flat/rooms ? and are they cheap?

Reply 10

TenOfThem

Original post by BradleyAllison

oh okay, and do i share these flat/rooms ? and are they cheap?

They are usually 1 person to a room in a shared flat

If you are looking at over £7k in loan and grant then this will be enough to pay for accom and living costs

Some accom includes food ... others don't but cost less

If you take a look on any uni website and click on the accommodation link you will get an idea of what is available

Reply 11

BradleyAllison

The figures i listed before, are they paid per a year or term/sermester?

Reply 12

Knalchemist

Original post by BradleyAllison

The figures i listed before, are they paid per a year or term/sermester?

If you get your funding from SFE then it's per term. If you're under SAAS it's per month.

Reply 13

BradleyAllison

Original post by Knalchemist

If you get your funding from SFE then it's per term. If you're under SAAS it's per month.

SFE? SAAS what do they mean?, and so its defiantly not for a year then? So for example I would get £3823 for the maintenance loan, that wouldn't be for the year? or?

Reply 14

Knalchemist

Original post by BradleyAllison

SFE? SAAS what do they mean?, and so its defiantly not for a year then? So for example I would get £3823 for the maintenance loan, that wouldn't be for the year? or?

The figures you listed at the top is your annual amount. That amount is divided by 3 and paid in instalments each term if you're with Student Finance England.

if you're with SAAS (Scottish students) they pay that and divide it in to mk that payments.

so you get something like £7460 for the YEAR. That is split into 3 and you get a piece each term.

(edited 10 years ago)

Reply 15

BradleyAllison

right okay thankyou, so would that mean id get have like £130 for the week? Is this enough to live on, with like biils and food, accommodation etc?

Reply 16

Tiger Rag

It should be enough. But it depends on you.

And you should get a bursary from your uni too.

Reply 17

swapnilramani

£130 shall be enough for a week, you will get even some surplus if you spend it in a wise way by planning your week's cost, similarly you can save them for the consecutive weeks in a similar way and get some surplus to spend after certain term.