How do you survive financially when you move out

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Itsthe
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I don’t have a clear understanding on how I would survive if I move out for uni, do you rely solely on student finance for rent and food. I don’t come from a very rich Home, so my parents at most can spare me about 50-100 a month. I’m gonna work while at uni but job hunting is difficult when the uni hasn’t been chosen because result days in a long time.
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cheesecakelove
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It is a combination of student loan, any donations from your parents, any savings you have built up, any bursaries and any money from part time work. The key to organising your finances is budgeting. You might find it useful before you go to uni to get a part time job to save up some money.
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Itsthe
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(Original post by cheesecakelove)
It is a combination of student loan, any donations from your parents, any savings you have built up, any bursaries and any money from part time work. The key to organising your finances is budgeting. You might find it useful before you go to uni to get a part time job to save up some money.
Can you survive just on a student loan?
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nutz99
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Have you used the student finance calculator to see what your provisional loan would be? Are you aware that if you work part-time it will reduce your maintenance loan?

Check whether your selected universities give out bursaries.

Get a job locally before you go to uni. It will give you experience that might put you ahead of other applicants. If you work for a national company like Domino's or McDonald's they might be able to recommend you for a job when you go to uni. Other than that get into the student union on your first day and see what jobs they have to offer.

If you want to live as cheaply as possible at uni learn to cook as many dishes as possible with rice or pasta. Also, if possible go for the shorter room contracts - this will mean you have to move everything out at Christmas and Easter though.
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cheesecakelove
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(Original post by Itsthe)
Can you survive just on a student loan?
It depends on your budget and how much loan you take out. However, I would recommend (if you can balance it with your studies) trying to find some part time work as it will help financially and also be good experience for future work.
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jelly1000
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(Original post by nutz99)
Have you used the student finance calculator to see what your provisional loan would be? Are you aware that if you work part-time it will reduce your maintenance loan?

Check whether your selected universities give out bursaries.

Get a job locally before you go to uni. It will give you experience that might put you ahead of other applicants. If you work for a national company like Domino's or McDonald's they might be able to recommend you for a job when you go to uni. Other than that get into the student union on your first day and see what jobs they have to offer.

If you want to live as cheaply as possible at uni learn to cook as many dishes as possible with rice or pasta. Also, if possible go for the shorter room contracts - this will mean you have to move everything out at Christmas and Easter though.
Not true, student finance don't take the applicants income into account if under 25, not married, only that of the parent(s) they live with.
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nutz99
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(Original post by jelly1000)
Not true, student finance don't take the applicants income into account if under 25, not married, only that of the parent(s) they live with.
Student finance always takes the applicant's income into account.

What counts as household income

Your household income is your taxable income plus the income of:

your parents - if you’re under 25 and live with them or depend on them financially
one of your parents and their partner - if you’re under 25 and live with them or depend on them financially
your partner - if you’re over 25 and live with them (even if they spend most of their time abroad)
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jelly1000
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(Original post by nutz99)
Student finance always takes the applicant's income into account.
Your own earnings from part time work while you're studying have no affect on your student finance no matter how many hours you work. They don't even ask about it on the forms (they only ask about unearned income; i.e. interest from savings for example).

And
If you’re applying for finance that depends on your household income,
we’ll ask your parents or partner to give us their National Insurance
numbers. This means we can automatically check your household
income.
In some cases, we may contact your parents or partner to ask
for further evidence, such as their P60 or payslips. These should
be photocopies. Don’t send originals, we can’t return financial
evidence. Remember, your application isn’t complete and can’t be
assessed until we have all the information we need.
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nutz99
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(Original post by jelly1000)
Your own earnings from part time work while you're studying have no affect on your student finance no matter how many hours you work. They don't even ask about it on the forms (they only ask about unearned income; i.e. interest from savings for example).

And
If you’re applying for finance that depends on your household income,
we’ll ask your parents or partner to give us their National Insurance
numbers. This means we can automatically check your household
income.
In some cases, we may contact your parents or partner to ask
for further evidence, such as their P60 or payslips. These should
be photocopies. Don’t send originals, we can’t return financial
evidence. Remember, your application isn’t complete and can’t be
assessed until we have all the information we need.
If that is correct then the advice on the Student Finance England website which states "Your household income is your parents' or partner's income, plus yours" is clearly wrong.
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jelly1000
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(Original post by nutz99)
If that is correct then the advice on the Student Finance England website which states "Your household income is your parents' or partner's income, plus yours" is clearly wrong.
From student finance NI page (https://www.nidirect.gov.uk/articles...-time-students)

Student Finance NI offices will always count your own income. This will include non-earned income, such as interest from savings, but not casual or part-time earnings during your course.

So technically I was wrong but they still don't count income from the applicants part time job.

And from the Student Loans Company booklet: (http://www.practitioners.slc.co.uk/m...ide_1617_d.pdf)

We’ll look at your household income which includes: • for dependent students, your parents’ income (see note below)

and Income from earnings during an academic year of your course (including holiday, evening or weekend work) doesn’t need to be declared
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metico
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(Original post by cheesecakelove)
It depends on your budget and how much loan you take out. However, I would recommend (if you can balance it with your studies) trying to find some part time work as it will help financially and also be good experience for future work.
Can you ask SLC to pay for your rent?
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nutz99
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(Original post by jelly1000)
From student finance NI page (https://www.nidirect.gov.uk/articles...-time-students)

Student Finance NI offices will always count your own income. This will include non-earned income, such as interest from savings, but not casual or part-time earnings during your course.

So technically I was wrong but they still don't count income from the applicants part time job.

And from the Student Loans Company booklet: (http://www.practitioners.slc.co.uk/m...ide_1617_d.pdf)

We’ll look at your household income which includes: • for dependent students, your parents’ income (see note below)

and Income from earnings during an academic year of your course (including holiday, evening or weekend work) doesn’t need to be declared
I've always thought the Student Finance websites were quite poorly designed and misleading, and this just confirms that. Even the calculator asks for the students' income as well as the parents.

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