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How much money should I take out from a maintenance loan watch

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    Hello, so I'm currently applying for a maintenance loan but I'm unsure on the amount I need. I am planning on living with my parents but I'm unsure how much I need to cover costs such as books and other university equipment any ideas?
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    (Original post by LordTrickster)
    Hello, so I'm currently applying for a maintenance loan but I'm unsure on the amount I need. I am planning on living with my parents but I'm unsure how much I need to cover costs such as books and other university equipment any ideas?
    It's impossible to say. We have no idea what extra course cost you have. For some people, it's a few books and for others, it's equipment. You may have travel costs, your parents may charge you rent, etc.
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    Em, all of it!? No but in all seriousness you should absolutely apply for the maximum you can. In fact there are those out there with the means to pay for university outright who take full student finance (or as much as they can get). You will never again in life come across a loan with such low interest and a lower threshold that allows you to stop paying back if you drop below it. Borrow the money, enjoy the extra bit of leeway, and feel content that your providing economic justice to the world (y)
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    (Original post by Daveboi115)
    Em, all of it!? No but in all seriousness you should absolutely apply for the maximum you can. In fact there are those out there with the means to pay for university outright who take full student finance (or as much as they can get). You will never again in life come across a loan with such low interest and a lower threshold that allows you to stop paying back if you drop below it. Borrow the money, enjoy the extra bit of leeway, and feel content that your providing economic justice to the world (y)
    It's generally recommended you take out the maximum you can. You have no idea if your laptop will break part way through your first year, for example or another money related emergency will come up.

    Some people live at home for the first year and decide to live out for the second year. The loan taken out in year one will enable them to pay a deposit on their house in year two, etc.
 
 
 

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