Hey there! Sign in to join this conversationNew here? Join for free
x Turn on thread page Beta
    • Thread Starter
    Offline

    0
    ReputationRep:
    Hi,

    I'm applying going the University of Manchester and staying in a private accommodation at £130.

    I'm from Chelsea in London, I'm confused about how my loan is being spread.

    I'm being told I get a maintenance loan of £8,200

    Does that cover the cost of my accommodation?
    If so does that mean I only get £2000 per year for myself to spend of food and nessecities?
    Or do I get a separate loan for my accomodation?

    Can someone make this clear?
    Thank you
    • Section Leader
    • Very Important Poster
    • Peer Support Volunteers
    Offline

    21
    ReputationRep:
    Section Leader
    Very Important Poster
    Peer Support Volunteers
    (Original post by sophiewillis1)
    Hi,

    I'm applying going the University of Manchester and staying in a private accommodation at £130.

    I'm from Chelsea in London, I'm confused about how my loan is being spread.

    I'm being told I get a maintenance loan of £8,200

    Does that cover the cost of my accommodation?
    If so does that mean I only get £2000 per year for myself to spend of food and nessecities?
    Or do I get a separate loan for my accomodation?

    Can someone make this clear?
    Thank you
    You get one maintainance loan so yes that leaves £2k, can I suggest you get cheaper accommodation? You could live comfortably if you were to get shared student accommodation.
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by claireestelle)
    You get one maintainance loan so yes that leaves £2k, can I suggest you get cheaper accommodation? You could live comfortably if you were to get shared student accommodation.
    Is that per term? Do I get £2k per term? Or year?
    • Section Leader
    • Very Important Poster
    • Peer Support Volunteers
    Offline

    21
    ReputationRep:
    Section Leader
    Very Important Poster
    Peer Support Volunteers
    (Original post by sophiewillis1)
    Is that per term? Do I get £2k per term? Or year?
    No, you would have roughly have 2.5k left a year assuming you want to spend 5.5 k on accommodation(£130 a week over 40 weeks). Honestly you ll be much better off if you get cheaper accommodation otherwise you ll need a part time job or an overdraft really.
    • Very Important Poster
    Offline

    22
    ReputationRep:
    Very Important Poster
    You get 33% in your first and second term and 34% in your third term. You should get (I'm not sure when) a payment schedule at some point. That will tell you how much you'll get.
 
 
 
Poll
Do you agree with the proposed ban on plastic straws and cotton buds?

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.