Is university technically £30,000+ a year? 😭 (UK)

Watch
Mojmeer
Badges: 18
Rep:
?
#21
Report 3 weeks ago
#21
(Original post by Ratchet Hoe)
I'm in London so if makes some sense but it depends on what you do there and after
IY can get room in a houseshare for about 500/m
0
reply
username1625799
Badges: 15
Rep:
?
#22
Report 3 weeks ago
#22
I personally think the idea that maintenance loan should be based off your household salary is such a bad way to allocate funding. It should be dependent on university location, accommodation prices, costs at that city.
This allows students to have the option to take more because just because someone's parents earns more that shouldn't mean that they should expect the parents to fund their child
2
reply
CoolCavy
Badges: 20
Rep:
?
#23
Report 3 weeks ago
#23
(Original post by Ratchet Hoe)
It's so scary tbh. I maintenance loan is less than accomodation for some reason but I heard that it is actually common. But idk since its rounded up basically to £6000 and accomodation (catered) is £8000, What do I actually do in terms of maintenance loan?
It is common unfortunately, the loan system is broken. The fact you are means tested based on your parents when you are an independent adult is wrong in itself as it assumes they will support you post 18 but that is a different debate.
Do you have to get catered? I understand you will be in London so prices will always be high to some extent but unfortunately you will just have to make sacrifices where you can, theres really no need to go catered and just adds thousands onto the price of a flat per year.
Last edited by CoolCavy; 3 weeks ago
0
reply
Ratchet Hoe
Badges: 20
Rep:
?
#24
Report Thread starter 3 weeks ago
#24
(Original post by leobrave)
I personally think the idea that maintenance loan should be based off your household salary is such a bad way to allocate funding. It should be dependent on university location, accommodation prices, costs at that city.
This allows students to have the option to take more because just because someone's parents earns more that shouldn't mean that they should expect the parents to fund their child
Change is needed 😭
0
reply
Ratchet Hoe
Badges: 20
Rep:
?
#25
Report Thread starter 3 weeks ago
#25
(Original post by CoolCavy)
It is common unfortunately, the loan system is broken. The fact you are means tested based on your parents when you are an independent adult is wrong in itself as it assumes they will support you post 18 but that is a different debate.
Do you have to get catered? I understand you will be in London so prices will always be high to some extent but unfortunately you will just have to make sacrifices where you can, theres really no need to go catered and just adds thousands onto the price of a flat per year.
Very broken and there is no need for it at all! I only plan on going catered for this year to settle down and get used to the place since it will be quiet far atm and also it's an intercollegiate hall, but not just that but the shared bathroom AHH and shared kitchen accomodation actually costed MORE!!! And because of transport too! But that is another expense RIP AHHH
0
reply
Ratchet Hoe
Badges: 20
Rep:
?
#26
Report Thread starter 3 weeks ago
#26
(Original post by Mojmeer)
IY can get room in a houseshare for about 500/m
Oooo where can I get that??
0
reply
lucypaulman
Badges: 8
Rep:
?
#27
Report 3 weeks ago
#27
(Original post by Ratchet Hoe)
By the way I know it's payed like a telephone bill but it's still a debt, you know? And no one fully pays it off. It just feels weird and wrong. What happens if you want to move country for example? LOL
Quite a lot of people fully pay it off, around 30 percent I think? And why wouldn't you be able to move country? I do agree it's too high right now though
0
reply
JGoosey2002
Badges: 17
Rep:
?
#28
Report 3 weeks ago
#28
(Original post by iDeano)
What are you talking about?
If you get the full maintenance loan outside of London you get over £9200.

Halls is only £4000 - 5000 a year outside of London.

I don't understand how the full maintenance loan is inadequate?
I’m not from a particularly well off area and still only know one person who didn’t get the minimum loan. You only need like a £58k household income. If you have 2 working parents, that’s basically guaranteed
0
reply
Sinnoh
Badges: 22
Rep:
?
#29
Report 3 weeks ago
#29
(Original post by Ratchet Hoe)
By the way I know it's payed like a telephone bill but it's still a debt, you know? And no one fully pays it off. It just feels weird and wrong. What happens if you want to move country for example? LOL
If you move country then instead of the repayments being deducted automatically off your income, you pay it back directly instead.
Are you planning on going to uni in London then?
1
reply
lucypaulman
Badges: 8
Rep:
?
#30
Report 3 weeks ago
#30
(Original post by JGoosey2002)
I’m not from a particularly well off area and still only know one person who didn’t get the minimum loan. You only need like a £58k household income. If you have 2 working parents, that’s basically guaranteed
Average income in the UK is £29k. So around half of students with 2 working parents will get more than the minimum loan. Then there are all the students with divorced parents, etc. So surely the majority of students will get more than the minimum loan.
0
reply
JGoosey2002
Badges: 17
Rep:
?
#31
Report 3 weeks ago
#31
(Original post by lucypaulman)
Average income in the UK is £29k. So around half of students with 2 working parents will get more than the minimum loan. Then there are all the students with divorced parents, etc. So surely the majority of students will get more than the minimum loan.
True but that 29k does include 18 year olds. To send a child to uni, you’re likely atleast in ur late 30’s. Idk the exact statistics but the post I was replying to was implying that recieving the full loan was common where I really don’t think it is
0
reply
Gent2324
Badges: 21
Rep:
?
#32
Report 3 weeks ago
#32
(Original post by Mojmeer)
IY can get room in a houseshare for about 500/m
unrelated but when i saw your avatar from the corner of my eye, a bouncing rat wasnt the first thing i was thinking of
0
reply
Legomenon
Badges: 18
Rep:
?
#33
Report 3 weeks ago
#33
(Original post by Mojmeer)
You start paying back £7/week once you start making over £25k/year. And this threshold keep increasing all the time. So, if you do Humanities or Arts, you will never pay anything back.
The savagery 😂
1
reply
Other_Owl
Badges: 21
Rep:
?
#34
Report 3 weeks ago
#34
I got lowest loan on SFNI.
0
reply
Libbyc16
Badges: 20
Rep:
?
#35
Report 3 weeks ago
#35
not if you do a degree where you can get a bursary
0
reply
Mojmeer
Badges: 18
Rep:
?
#36
Report 3 weeks ago
#36
(Original post by Gent2324)
unrelated but when i saw your avatar from the corner of my eye, a bouncing rat wasnt the first thing i was thinking of
no worries, happens all the time
0
reply
Mojmeer
Badges: 18
Rep:
?
#37
Report 3 weeks ago
#37
(Original post by Ratchet Hoe)
Oooo where can I get that??
I would start with Gumtree, then maybe look around for "polish" shops as they tend to advertise cheap rooms in or around those stores, you pay one moth upfront, not fixed contracts or anything.
Also, if your name and avatar reflect the real you ...you might be able to negotiate a different arrangement

But really, hall and agencies are rip off, you will get nothing for the premium.
0
reply
Ratchet Hoe
Badges: 20
Rep:
?
#38
Report Thread starter 2 weeks ago
#38
(Original post by Sinnoh)
If you move country then instead of the repayments being deducted automatically off your income, you pay it back directly instead.
Are you planning on going to uni in London then?
Sorry what do you mean by directly? And yeah I do plan on going to London
0
reply
mnot
Badges: 20
Rep:
?
#39
Report 2 weeks ago
#39
(Original post by Ratchet Hoe)
Sorry what do you mean by directly? And yeah I do plan on going to London
If you work PAYE in the UK the government can just take the money from your paycheque without you ever seeing it. Whereas if you work abroad you will have to pay back SFE like a normal bill.
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

What are you most likely to do if you don't get the grades you were expecting?

Go through Clearing (160)
38.55%
Take autumn exams (126)
30.36%
Look for a job (15)
3.61%
Consider an apprenticeship (18)
4.34%
Take a year out (70)
16.87%
Something else (let us know in the thread!) (26)
6.27%

Watched Threads

View All