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Is a Student grant and student loan enough money to live in student halls in London? watch

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    I'm in first year of uni at the moment, and am planning to move out next academic year and live in student accomodation. Is this enough to cover the costs of living as well as bills or will I be better off saving money through working?
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    (Original post by WinterLover)
    I'm in first year of uni at the moment, and am planning to move out next academic year and live in student accomodation. Is this enough to cover the costs of living as well as bills or will I be better off saving money through working?
    Unforunately there are too many variables for us to know.

    You first need to know how much rent you'll be paying in your chosen uni accommodation (should be available on your uni's website somewhere). Some types of uni accommodation will include bills in that figure, some won't. If yours doesn't, try asking current occupants for estimates of the additional cost of their bills.

    Then you'll need to have an idea about how much extra Maintenance Loan you might get by living away from home (it won't be a huge amount, but every little helps):
    https://www.gov.uk/student-finance-calculator

    You will then have a range of costs on top e.g. travel from your accommodaton to campus, food, socialising etc. There's no way we can know those on your behalf.

    All I can say is that London is notoriously expensive. If you plan to work, then you won't go far wrong. You can always give up your job after a few weeks if it turns out that you don't need to.
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    (Original post by WinterLover)
    I'm in first year of uni at the moment, and am planning to move out next academic year and live in student accomodation. Is this enough to cover the costs of living as well as bills or will I be better off saving money through working?
    No. Definitely not. I lived out and received the maximum possible maintenance grant and loan, and this was only covered the fees for my halls. You may receive less if you come from a middle class family. There was only a fair bit of excess left by end of the second semester when you receive your third instalment of your student loans, however you do not know what to do for the first and most of second semester. I had to work part time two days on weekends to cover my own costs such as food and going out etc

    However, that said my halls was in London, about 30 mins away from Central so it was a fair bit more expensive than your average halls if you're studying outside of London. I was paying £189 per week. I'm not sure about outside London but I think for them it's around £120-160 a week.

    Two thirds of the students at my halls were international students who were mega rich, a lot of them even had their parents paying the full £9k tuition fees. The other third were middle class UK students who had parents kind enough to send them money every month. I was literally the only guy with a part time job among my flatmates.
 
 
 
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