Asking parents for money - Uni maintenance loan Watch

Anonymous #1
#1
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#1
hello,

the accommpdation at my chosen university is quite expensive, and it looks like I will only have 15 pounds per week for anything like food/toiletries/going out and buying clothes... I was debating to ask my parents for £1k which would give me £40 per week instead which is a more liveable amount.

I am not sure how to go about asking or bringing it up... they were under the impression my loan would be higher as was I, and everything would be ok.

Please only advice on this issue - no telling me to get a job etc.

thank you
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Anonymous #2
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Well if you’re not willing to get a job then only decent thing to do would be to ask your parents to LEND you the 1k and you pay it back when you have the money. I would check with student finance though and see if you’re eligible for a higher maintenance loan because you can’t keep asking your parents for money each semester/year.
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kurro
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#3
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We obviously don't know anything about your parents (e.g how they would react if you were to ask) or your parent's financial issues (if they have any).

If your parents can spare 1k for you then ask them, they either say yes or no. There should be no need for them to lash out or anything else. And if you explain to them how much you have left, then they may give you the money or a bit less.

You could go on overdraft, then get a job in the summer or something and pay it back. Or pay your parents back too by getting a job. But seriously, why don't you get a job now? Keeping up with uni and a job is manageable but will be hard.
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Anonymous #1
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(Original post by Anonymous)
Well if you’re not willing to get a job then only decent thing to do would be to ask your parents to LEND you the 1k and you pay it back when you have the money. I would check with student finance though and see if you’re eligible for a higher maintenance loan because you can’t keep asking your parents for money each semester/year.
I was wanting to return home second year anyway but yeah I think lending it sounds like a better idea - but knowing them they don't like the idea of me paying them back for things or even when I have money saved up they will tell me to put the money away and buy that thing for me with their money instead. Hopefully I can convince them to let me lend it, instead of just be given it.
thank you
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cheesecakelove
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(Original post by Anonymous)
hello,

the accommpdation at my chosen university is quite expensive, and it looks like I will only have 15 pounds per week for anything like food/toiletries/going out and buying clothes... I was debating to ask my parents for £1k which would give me £40 per week instead which is a more liveable amount.

I am not sure how to go about asking or bringing it up... they were under the impression my loan would be higher as was I, and everything would be ok.

Please only advice on this issue - no telling me to get a job etc.

thank you
I would just explain the situation honestly - they should hopefully be willing to help you financially. Is there anyway you can get cheaper accommodation?
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AzureCeleste
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Get a job and earn money over summer. No need to work in term then and you should be able to save up 1k and potentially more
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londonmyst
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Have you looked into student overdrafts and credit cards?
They can be very useful for establishing a credit history and tiding you over whilst waiting for student finance installments.
I've lived on less than £35 a week throughout my undergrad and postgrads.
I wouldn't recommend that any adult ask their parents for financial support or a loan.
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siamsam
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How much would your maintenance loan be? the expectation from student finance is that your parents will top the loan up if it's less than £8700
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Anonymous #1
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(Original post by siamsam)
How much would your maintenance loan be? the expectation from student finance is that your parents will top the loan up if it's less than £8700
It would be 6775 :/
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Anonymous #1
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(Original post by londonmyst)
Have you looked into student overdrafts and credit cards?
They can be very useful for establishing a credit history and tiding you over whilst waiting for student finance installments.
I've lived on less than £35 a week throughout my undergrad and postgrads.
I wouldn't recommend that any adult ask their parents for financial support or a loan.
I guess I can discuss this stuff with my bank, I am scared of bank cards cause they seem so new to me but if I talk to a professional it could help. And I agree, I don't think it is a good idea, but apparently the government expects our parents to contribute to our maintenance loan if it is beloe maximum amount
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Anonymous #1
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(Original post by AzureCeleste)
Get a job and earn money over summer. No need to work in term then and you should be able to save up 1k and potentially more
I can try and get a job, however I have applied to so many and been rejected everytime (around 20 times).
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siamsam
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If your studying outside London the expectation is that your parents would make up the difference between the max of £8700 and £6775 (almost £2000)
The reason why you're not entitled to the full £8700 is because of your parents income.
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AzureCeleste
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(Original post by Anonymous)
I can try and get a job, however I have applied to so many and been rejected everytime (around 20 times).
Just keep trying. It's early days yet.
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Anonymous #1
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(Original post by siamsam)
If your studying outside London the expectation is that your parents would make up the difference between the max of £8700 and £6775 (almost £2000)
The reason why you're not entitled to the full £8700 is because of your parents income.
I know :/ the Government expects them to chip in that much but reality is, I am not the only child they have to upkeep and spend money on! I think that should make up loan criteria.
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siamsam
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Just to avoid confusion, if you're studying in London your parents would still be expected to make up the difference however the maximum maintenance London would then be £11,354.

I think that you should google MSE student loan and show your parents the video near the bottom of the page
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Muttley79
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(Original post by Anonymous)
I was wanting to return home second year anyway but yeah I think lending it sounds like a better idea - but knowing them they don't like the idea of me paying them back for things or even when I have money saved up they will tell me to put the money away and buy that thing for me with their money instead. Hopefully I can convince them to let me lend it, instead of just be given it.
thank you
You could work in the summer break to cover that amount.
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Anonymous #3
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(Original post by londonmyst)
Have you looked into student overdrafts and credit cards?
They can be very useful for establishing a credit history and tiding you over whilst waiting for student finance installments.
I've lived on less than £35 a week throughout my undergrad and postgrads.
I wouldn't recommend that any adult ask their parents for financial support or a loan.
Damn I live on almost triple that per week :eek: (in london)
I do work part time so I can afford it
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londonmyst
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#18
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(Original post by Anonymous)
Damn I live on almost triple that per week :eek: (in london)
I do work part time so I can afford it
I'm in London, working three jobs.
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doodle_333
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#19
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Just draft up a budget and tell them you're stressed about it. Given what you've said they're likely to offer you the money.
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