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    After all the celebrations yesterday over my results - A*AA. I thought I had made it into uni. However I think my accommodation offer is the more worrying aspect of it all... My accommodation charges £150 a week it's £5980- something a year (Yeah I know crazy!), I've seen some uni's do like 90 pounds others even around the £70 mark. I received my accommodation offer, however what I didn't realize was that it's paid in instalments with the first payment next month will be £2300, for the fist 3 months, same amount again for the next 4 months and finally £1200 for the rest - May onwards . I am entitled for the full student loan and grant altogether £7177 (because I'm poor and come from single parent background ) , however the instalments in which they pay is just enough to pay for the accommodation fees for the first 2 instalments... Which leaves me with NOTHING for living costs until May 2014 :confused:. I'm currently unemployed to and have been looking for work since leaving college in June....
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    Also, my other alternative is £135 a week, however I'm not too keen as its not en-suite, and I don't think It's be much of a difference anyway. Probably a saving of £100 an instalment, if so I'll have £200 until May which also is NOWHERE near enough.
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    Unless you think you're likely to get a job which will provide you with living costs before September, then definitely take a year out.
    You're not going to miss anything by waiting a year, and you'll enjoy yourself more at uni if you're not constantly stressed about money.
    I'm just finishing my year out, I worked full time at a bank, and while it wasn't that fun to be left behind working 9-5 while everyone I knew was away to uni, I'm glad I did it because it's such a relief to know I'm now covered financially for the next year.
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    I have to pay 210 pounds a week.


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    Does your University not offer any additional funding? I am in the same boat as you, but should hopefully be getting £2500 worth of bursary (and a £2000 fee waiver) from the University - because my house income is less than £16,000. Could you also open a bank account which offers a larger overdraft, or see if your current bank account could be changed to a student account. Because fees are often at the wrong time compared to the payment of loans and grants most student bank accounts offer a no charge overdraft. (HSBC offers up to £3000, especially if you explain the instalment issue). Lots of my friends had the same issue, and they just went over into their overdraft knowing they'd have to pay it back with what was left with their last instalment. Your money would still be tight though, so it would be definitely worth looking into additional funding. Good luck!
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    If you take your total accommodation costs from your student loan you are left with about £1200 to live on over your first year at uni.
    How much you'll have per week to spend will depend on how long your terms are and if you will be supporting yourself financially over the holidays.
    Assuming you will have financial help over the summer and you have a 39 week accommodation contact you'll have £30 a week to live off.
    If you get a student account with a decent overdraft to cover the two terms where accommodation costs equal your student loan instalments, and budget well you will be absolutely fine. Student accounts have large overdrafts for a reason and they are interest free so make use of it.
    If you want to be out of the overdraft at the end of the year stick to the £30/week budget and your last student finance instalment will take you out of it.
    Living on £30 a week may not sound like much but its perfectly doable (I lived on less my first year of uni) and you can always search for a job while you're at uni to supplement this.

    If you want to take a gap year then that's your choice but don't feel like you have to.
    hope this helps
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    (Original post by Jan100)
    After all the celebrations yesterday over my results - A*AA. I thought I had made it into uni. However I think my accommodation offer is the more worrying aspect of it all... My accommodation charges £150 a week it's £5980- something a year (Yeah I know crazy!), I've seen some uni's do like 90 pounds others even around the £70 mark. I received my accommodation offer, however what I didn't realize was that it's paid in instalments with the first payment next month will be £2300, for the fist 3 months, same amount again for the next 4 months and finally £1200 for the rest - May onwards . I am entitled for the full student loan and grant altogether £7177 (because I'm poor and come from single parent background ) , however the instalments in which they pay is just enough to pay for the accommodation fees for the first 2 instalments... Which leaves me with NOTHING for living costs until May 2014 :confused:. I'm currently unemployed to and have been looking for work since leaving college in June....
    Talk to the university about your situation?
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    (Original post by coastbeats)
    I have to pay 210 pounds a week.
    Are you applying to London? They are more expensive, but you get a larger sum from SFE.

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    (Original post by JinxedOut)
    Does your University not offer any additional funding? I am in the same boat as you, but should hopefully be getting £2500 worth of bursary (and a £2000 fee waiver) from the University - because my house income is less than £16,000. Could you also open a bank account which offers a larger overdraft, or see if your current bank account could be changed to a student account. Because fees are often at the wrong time compared to the payment of loans and grants most student bank accounts offer a no charge overdraft. (HSBC offers up to £3000, especially if you explain the instalment issue). Lots of my friends had the same issue, and they just went over into their overdraft knowing they'd have to pay it back with what was left with their last instalment. Your money would still be tight though, so it would be definitely worth looking into additional funding. Good luck!
    Thanks I forgot about Uni funding. I just checked and they're isn't really much help for a student in my position despite my background, there is funding available to cut accommodation costs by £500 but it's only available for 28 students who face a some kind of adversity - still applied anyway. All other funding a too specific and I don't match the type.
    (Original post by kitkatbitesize)
    If you take your total accommodation costs from your student loan you are left with about £1200 to live on over your first year at uni.
    How much you'll have per week to spend will depend on how long your terms are and if you will be supporting yourself financially over the holidays.
    Assuming you will have financial help over the summer and you have a 39 week accommodation contact you'll have £30 a week to live off.
    If you get a student account with a decent overdraft to cover the two terms where accommodation costs equal your student loan instalments, and budget well you will be absolutely fine. Student accounts have large overdrafts for a reason and they are interest free so make use of it.
    If you want to be out of the overdraft at the end of the year stick to the £30/week budget and your last student finance instalment will take you out of it.
    Living on £30 a week may not sound like much but its perfectly doable (I lived on less my first year of uni) and you can always search for a job while you're at uni to supplement this.

    If you want to take a gap year then that's your choice but don't feel like you have to.
    hope this helps
    I do get £7177 a year and my accommodation is £5989 for 40 weeks. BUT......It's paid in 3 instalment in the first two instalments in Sept next month and Jan 2014 my rental fee is going to be £2300 in both of these instalments. I will receive 2290 - something through loan and grant at the exact same date as my rent. And LITERALLY everything will be taken plus a little more out of my own funds. The last instalment is on April however it's a lot lower at 1200, which is fine as my loan and grant will remain unchanged at the same amount. But I'll have NOTHING until that point. My family will support me but I don't know how long they will be able to, we have financial woes atm.
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    (Original post by Jan100)
    I do get £7177 a year and my accommodation is £5989 for 40 weeks. BUT......It's paid in 3 instalment in the first two instalments in Sept next month and Jan 2014 my rental fee is going to be £2300 in both of these instalments. I will receive 2290 - something through loan and grant at the exact same date as my rent. And LITERALLY everything will be taken plus a little more out of my own funds. The last instalment is on April however it's a lot lower at 1200, which is fine as my loan and grant will remain unchanged at the same amount. But I'll have NOTHING until that point. My family will support me but I don't know how long they will be able to, we have financial woes atm.
    Like I said before, get a student account with an overdraft. Student overdrafts are interest free so it doesn't cost you any money to use them. You can use that to fund your first two terms.
    I was in the same position last year and had to live in my overdraft for the first two terms as my rent was more than the money I got from student finance but it balanced out in the third term as that time my rent was lower then the amount I got from my third student finance instalment.
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    (Original post by Jan100)
    After all the celebrations yesterday over my results - A*AA. I thought I had made it into uni. However I think my accommodation offer is the more worrying aspect of it all... My accommodation charges £150 a week it's £5980- something a year (Yeah I know crazy!), I've seen some uni's do like 90 pounds others even around the £70 mark. I received my accommodation offer, however what I didn't realize was that it's paid in instalments with the first payment next month will be £2300, for the fist 3 months, same amount again for the next 4 months and finally £1200 for the rest - May onwards . I am entitled for the full student loan and grant altogether £7177 (because I'm poor and come from single parent background ) , however the instalments in which they pay is just enough to pay for the accommodation fees for the first 2 instalments... Which leaves me with NOTHING for living costs until May 2014 :confused:. I'm currently unemployed to and have been looking for work since leaving college in June....
    why dont you look into private shared room/house accommodation. Most of the time you can get a house or room share for £300 or less a month including bills and even wifi if it is marked as student accommodation.

    As for a job, you really need to keep looking. have you tried bank work in the nhs? they are always looking for staff. Failing that, nursing and residential homes are always short on staff and will likely take you on whether they have an advertised vacancy or not if you send in your CV. I have worked in 3 different nursing homes.
    I would definitely get an overdraft but try not to rely on it if you can help it. i wouldn't reccomend a credit card until you are guaranteed a certain amount of income from a reliable source each month, and even then, only use it in emergency's.

    It is worth having a word with your uni. They may be able to spread your installments out further or even help with funding. They will be able to advise you on finance aswell and point you in the right direction for further help.

    This is a link to a budget planner. i found it to be invaluable when i first moved into my house. try it out, it will help you to organise your finances and prioritise https://www.moneyadviceservice.org.u...budget-planner
 
 
 
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