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Maintenance loan enough to live on?

Just got my maintenance loan approved. Woohoo!

Anyway, I will receive a £7,910 maintenance loan (weirdly exact right?).

I will (hopefully, hopefully, hopefully... fingers crossed) be going to either Pembroke College, Cambridge or St Johns College, Durham to study philosophy.

Will I be able to live exclusively off my maintenance loan?
(edited 7 years ago)
It depends on how much your rent is, what your course is, (an art course for example, would be more expensive than a computing course) whether you go home often and whether you're someone who goes on nights out often. Bit difficult to answer.
Reply 2
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Platopus
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Original post by Tiger Rag
It depends on how much your rent is, what your course is, (an art course for example, would be more expensive than a computing course) whether you go home often and whether you're someone who goes on nights out often. Bit difficult to answer.

Thanks :smile: I'm doing philosophy and wouldn't be going out/home often. I guess I'm just looking for a loose estimate of whether my loan would cover the bare essentials i.e. Food, average accommodation in college, any books. Doesn't need to be exact and any help is much appreciated!
Original post by Platopus
Thanks :smile: I'm doing philosophy and wouldn't be going out/home often. I guess I'm just looking for a loose estimate of whether my loan would cover the bare essentials i.e. Food, average accommodation in college, any books. Doesn't need to be exact and any help is much appreciated!


Have you drawn up a budget?
Reply 4
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Original post by Tiger Rag
Have you drawn up a budget?

Uuuuummmm.....


I should probably do that.

Sorry, you must think I'm stupid! Well, I sort of am :\
That's a huge maintenance loan, I received £6001 this year. (why bother with the extra £1, right?)

I'm going to finish this year on almost exactly 0. I have about £200 left in my account to see my through my last month.

My rent was £69 a week, 38 week contract. So even if your rent is higher, or your contract is longer, you should be fine with £7.9K, as long as you're not paying more than £100 a week on a 50 week contract.
Reply 6
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Original post by Just Josh
That's a huge maintenance loan, I received £6001 this year. (why bother with the extra £1, right?)

I'm going to finish this year on almost exactly 0. I have about £200 left in my account to see my through my last month.

My rent was £69 a week, 38 week contract. So even if your rent is higher, or your contract is longer, you should be fine with £7.9K, as long as you're not paying more than £100 a week on a 50 week contract.

That's so helpful, thank you!!!
Reply 7
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Platopus
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Original post by Just Josh
That's a huge maintenance loan, I received £6001 this year. (why bother with the extra £1, right?)

I'm going to finish this year on almost exactly 0. I have about £200 left in my account to see my through my last month.

My rent was £69 a week, 38 week contract. So even if your rent is higher, or your contract is longer, you should be fine with £7.9K, as long as you're not paying more than £100 a week on a 50 week contract.

Sorry to quote you again, but could I ask what uni you go to? I knowing that costs do vary from place to place. Thanks again :smile:
University of Surrey, although my accommodation is the cheapest on campus. I would say to go for the cheapest accommodation you're allowed. Unless you really need that en-suite or sink, don't buy a room with it. Just walk 5 seconds to the bathroom instead.
Reply 9
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Platopus
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Original post by Just Josh
University of Surrey, although my accommodation is the cheapest on campus. I would say to go for the cheapest accommodation you're allowed. Unless you really need that en-suite or sink, don't buy a room with it. Just walk 5 seconds to the bathroom instead.

Thanks! I've applied for the cheapest accommodation at Cambridge but as Durham isn't my firm I haven't been able to do anything accommodation wise with them. At Pembroke, there are no en suites for any rooms!

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