The Student Room Group

Will moving out of home change my student loan scheme?

Yay for my first post!! Hello, I'm applying to university this year and would like to know whether living situations can change the way my student loans work. I'm planning to live at home for my first year, and intend to take out whichever loans I can. If I move out of home in my second year, will my student loans change in any way? It's still all a little vague to me, so I would really appreciate some advice from anyone who understands what I mean. Thank you :smile:
Original post by violetsoup
Yay for my first post!! Hello, I'm applying to university this year and would like to know whether living situations can change the way my student loans work. I'm planning to live at home for my first year, and intend to take out whichever loans I can. If I move out of home in my second year, will my student loans change in any way? It's still all a little vague to me, so I would really appreciate some advice from anyone who understands what I mean. Thank you :smile:

There are four rates of student loan, one for those living at home, an increased one for those living away. Theres also one for living in London and one for living abroad.
On that basis you will get more when you move out in Y2 as you will be living away from home.
https://www.gov.uk/student-finance/new-fulltime-students

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