How much of your student loan did you have left after paying rent Watch

Jessicafreya0
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#21
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#21
What is the whole concept of an overdraft can you explain please? Do I need a specific back account for this?
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VegetableMarvell
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#22
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#22
(Original post by Jessicafreya0)
What is the whole concept of an overdraft can you explain please? Do I need a specific back account for this?
Just get a student account. And look for one with the best amount of free overdraft (basically borrowing money from the bank and not having to pay interest on it). I'm going with Nationwide, cause they've guaranteed up to £1,000 free overdraft this year, and the rest of them don't really 'guarantee'.

Also, I've got nothing left after accom. My accommodation actually goes over what I've got loan wise. So that sucks.
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Jessicafreya0
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#23
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Oh jeeez okay I’m gonna go for nationwide then this will be my first year VegetableMarvell
Last edited by Jessicafreya0; 2 weeks ago
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Jessicafreya0
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#24
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So I already have a NatWest bank account can I still open and get a student one with nationwide whilst keeping my NatWest open? VegetableMarvell
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VegetableMarvell
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#25
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#25
(Original post by Jessicafreya0)
Oh jeeez okay I’m gonna go for nationwide then this will be my first year VegetableMarvell
Yeah it's my first year too. Just ring up and ask for an appointment to discuss it at your local branch. If you've got an account already at different bank, it may have automatically upgraded to Student, rather than "Under 18". That's what happened with my TSB account.
Here's the link I used for student bank account info:

https://www.savethestudent.org/money...-accounts.html
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DrawTheLine
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#26
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#26
For my most recent year at uni I had around half of my loan left
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Jessicafreya0
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#27
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VegetableMarvell okay thanks a bunch I might get one during the course I’m not sure I’ll figure it out. Also DrawTheLine how much was this?
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DrawTheLine
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#28
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#28
(Original post by Jessicafreya0)
VegetableMarvell okay thanks a bunch I might get one during the course I’m not sure I’ll figure it out. Also DrawTheLine how much was this?
Around 4.5k
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Jessicafreya0
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#29
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We’re you okay on this ? DrawTheLine
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DrawTheLine
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#30
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#30
(Original post by Jessicafreya0)
We’re you okay on this ? DrawTheLine
Yes it was more than enough. I also have a part time job too which bumped it up a bit. If you just monitor your spending, food shop with a plan and think before you buy then you'll be fine.
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Jessicafreya0
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#31
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How much did you spend on food a week if you don’t mind me asking? DrawTheLine thanks x
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Jamie_1712
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#32
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-£2300 yes that’s right, it doesn’t even cover accommodation 😬
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Phoenixfeather99
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#33
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#33
I worked out today how much I’ll have left over if I keep to a monthly budget.... I’m -£695. I’m really hoping my mum will top up my maintenance loan to the full amount 😖 as that figure doesn’t include new clothes, nights out, printing allowance, textbooks etc.
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Mustafa0605
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#34
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#34
Negative £2800. Not cool
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DrawTheLine
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#35
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#35
(Original post by Jessicafreya0)
How much did you spend on food a week if you don’t mind me asking? DrawTheLine thanks x
Around £15-20
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Rhodesian
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#36
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#36
(Original post by Mustafa0605)
Negative £2800. Not cool
How will you be on -£2800 after accommodation?

Seems scary.
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Mustafa0605
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#37
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(Original post by Rhodesian)
How will you be on -£2800 after accommodation?

Seems scary.
Accommodation costs me £7k and because both my parents work, I get the minimum student maintenance loan
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EJC001
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#38
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#38
I don't live in student accommodation, I'll be living with my parents but have to pay £1000 per term which means I am left with £1400 on the first term. Thankfully I don't have to buy a gaming laptop for my course again like last year. But I do have to pay for my breakfast and lunches
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octo
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#39
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I actually have the numbers for this because of my budget! Hope it helps people.

1st year: In halls, rent was 6418 and my student loan was 7506 -- so I had 1088 left over. This wasn't quite enough to survive -- I got a little financial help from my parents, and my living costs for the year worked out at just over 1300.

2nd year: off campus. Rent was 4840 not including deposit or bills, but my student loan was 8480, so I had a cool 3640 left over. DEFINITELY doable - my living expenses were around 1600.

And 3rd year: back in halls. My rent is 4500 and my student loan is 6830, so I'll have 2330 left over - which is more than doable imo.
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Mustafa0605
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#40
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#40
(Original post by octo)
I actually have the numbers for this because of my budget! Hope it helps people.

1st year: In halls, rent was 6418 and my student loan was 7506 -- so I had 1088 left over. This wasn't quite enough to survive -- I got a little financial help from my parents, and my living costs for the year worked out at just over 1300.

2nd year: off campus. Rent was 4840 not including deposit or bills, but my student loan was 8480, so I had a cool 3640 left over. DEFINITELY doable - my living expenses were around 1600.

And 3rd year: back in halls. My rent is 4500 and my student loan is 6830, so I'll have 2330 left over - which is more than doable imo.
Why was first year accommodation much more expensive?
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