Jalgar17
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Do the student loans that you can take out for uni only cover the degree that you do or can you get a student loan which will cover accommodation too? If so, does it work in the same way where you only have to pay it back when you starting earning a certain amount
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super_kawaii
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(Original post by Jalgar17)
Do the student loans that you can take out for uni only cover the degree that you do or can you get a student loan which will cover accommodation too? If so, does it work in the same way where you only have to pay it back when you starting earning a certain amount
The student loan is actually TWO loans, the tuition fee loan and the maintenance loan. The tuition fee loan you will never see as it goes straight from Student Finance to your uni to cover your fees.

Your maintenance loan is what you use to go towards paying your rent and living costs, although it may not cover your rent, dependant on how much your parents own. In this case you would have to fund the difference from elsewhere (usually your parents).

You pay these both back once you have graduated and are earning over £21k per annum.
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Retired_Messiah
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In UK student finance covers both tuition fees and an additional 'maintenance loan' which is paid back in the same way and is just money they bung in your bank account which you can use for accommodation, food or whatever. The amount of maintenance you're entitled to is based on your household income, so if your parents are wealthy you won't get a huge amount, but the reverse is also true.

They won't just straight up pay for the cost of your accommodation in full.
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carrotstar
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(Original post by super_kawaii)
The student loan is actually TWO loans, the tuition fee loan and the maintenance loan. The tuition fee loan you will never see as it goes straight from Student Finance to your uni to cover your fees.

Your maintenance loan is what you use to go towards paying your rent and living costs, although it may not cover your rent, dependant on how much your parents own. In this case you would have to fund the difference from elsewhere (usually your parents).

You pay these both back once you have graduated and are earning over £21k per annum.
This.

I will add that the maintenance loan is paid to you and you are responsible for paying your accommodation and food etc from that once it appears in your bank account.

I also really recommend getting a student bank account as you will be able to have a no interest overdraft (basically free money but you will have to pay it back eventually so use it wisely!) which is really useful if you have to pay accommodation before your loan is paid to you.
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