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

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

Reply 21

username1625799

15

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

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.

(edited 3 years ago)

Reply 23

OP

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 😭

Reply 24

OP

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

Reply 25

OP

Original post by Mojmeer

IY can get room in a houseshare for about 500/m

Oooo where can I get that??

Reply 26

lucypaulman

9

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

Reply 27

ilililili

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

Reply 28

Sinnoh

22

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?

Reply 29

lucypaulman

9

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.

Reply 30

ilililili

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

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

Reply 32

Legomenon

19

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 😂

Reply 33

Other_Owl

22

I got lowest loan on SFNI.

Reply 34

Libbyc16

not if you do a degree where you can get a bursary

Reply 35

Mojmeer

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 :biggrin:

Reply 36

Mojmeer

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 :biggrin:

But really, hall and agencies are rip off, you will get nothing for the premium.

Reply 37

OP