Can you live off maintenance loan alone?

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Cenanderson1
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I’m planning on moving out for uni for 2021 and studying in Manchester. I calculated my expected maintenance loan and I should be getting £9027 I know this is more than most but because I won’t have my family’s support do you think this would be manageable without a job?

I’d prefer not to work in first year because I found it difficult to balance a levels as well as shifts.

Any advice
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Joe Frazier
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Maybe. Work out how much you’re going to spend each week and then see if the money will last you for the year. I doubt it though. Most people either have part time jobs continuously throughout the year or work whenever they return home (Christmas etc.) You say you struggle with balancing studies with work - maybe uni is a good time to start working on that. You don’t want to be the only one not able to have a good time because you lack the funds.
Last edited by Joe Frazier; 4 weeks ago
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Cenanderson1
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(Original post by Joe Frazier)
Maybe. Work out how much you’re going to spend each week and then see if the money will last you for the year. I doubt it though. Most people either have part time jobs continuously throughout the year or work whenever they return home (Christmas etc.) You say you struggle with balancing studies with work - maybe uni is a good time to start working on that. You don’t want to be the only one not able to have a good time because you lack the funds.
I didn’t think about temporary positions and saving money say during Christmas period and summer, that’s a good idea. I’ll have a look into how much I’ll be spending, thank you!
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CoolCavy
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£9000 is almost the maximum, you will be absolutely fine. People live on less than £4000 with minimal parental support.
Just shop in cheap places and dont waste huge amounts on night outs (which would be difficult to do anyway with covid). Look around for reasonably priced accommodation, some people spend £8000 or more on accommodation which is usually unnecessary unless you are somewhere like london.
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Cenanderson1
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(Original post by CoolCavy)
£9000 is almost the maximum, you will be absolutely fine. People live on less than £4000 with minimal parental support.
Just shop in cheap places and dont waste huge amounts on night outs (which would be difficult to do anyway with covid). Look around for reasonably priced accommodation, some people spend £8000 or more on accommodation which is usually unnecessary unless you are somewhere like london.
Thank you, I think I’ll still end up going for a relatively cheaper accommodation and making sure I budget. You’ve made me feel a little less stressed
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tiaal
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Yes I had around that much with not much parental support and it was plenty. I actually still had a lot of money left over at the end of the year which I would then carry over into second and now third year. You just have to manage your money well for example going to cheaper supermarkets such as Aldi and home cooking meals instead of ordering takeaways/eating at restaurants. The accommodation in my city is also quite expensive (6-7k) compared to other places and I managed to get by fine. Don't stress too much!
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Cenanderson1
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(Original post by tiaal)
Yes I had around that much with not much parental support and it was plenty. I actually still had a lot of money left over at the end of the year which I would then carry over into second and now third year. You just have to manage your money well for example going to cheaper supermarkets such as Aldi and home cooking meals instead of ordering takeaways/eating at restaurants. The accommodation in my city is also quite expensive (6-7k) compared to other places and I managed to get by fine. Don't stress too much!
This has helped me feel so much better thank you!
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Desideri
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I have less than that (lower maintenance loan plus my parents give me a bit, but in total adds up to quite a bit less than 9k) and have managed just fine.

I’d recommend making a budget for yourself and doing your best to stick to it. In first year, I had a budget tracker app on my phone to record everything I spend. Now I don’t track it like that, but have quite a good idea of how much I can spend.
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AlexBess
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I had less and it was hard. I combined work and study, sometimes I lack money and even got loans here. So, I think, you won't face any issues. And I like the idea of making a budget. It might be helpful.
Last edited by AlexBess; 3 weeks ago
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