accommodation rent higher than maintenance loan

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Em1lyja
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I’ve recently applied for accommodation in London and the rough amount i’ll be paying a month is £920. When calculating my student loan i should roughly receive £800 a month - not enough to cover my rent or any extra necessities such as food etc. I’m planning to get a part-time job when i start in september but i’m unsure this will be enough to cover everything as i’ll have travel expenses etc. I have some savings but wasn’t planning on spending them all at uni, I won’t be able to receive much financial support from family as I’m only supported by my mum. I know London is expensive but does anyone have any advice or tips? Please no comments on cheaper accommodation as this is the best prices offered by my uni without having to live somewhere horrible
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tptp123
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Ur only option is to get a job that pays decent tbh
I know a few that made a lot of money from tutoring (A level or GCSE) during their degree
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HorribleHatty
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If you don’t want to live somewhere more affordable (£900/month is a lot and you know you can’t afford it), then you’ll have to spend your savings. There are no benefits or extra loans available to people who don’t want to lower themselves to cheaper accommodation.
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MatthewAteYou
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You can see if your university has a hardship fund. Quite often they do, especially now with the pandemic, and can help 'top-up' what the loan misses.
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Em1lyja
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(Original post by HorribleHatty)
If you don’t want to live somewhere more affordable (£900/month is a lot and you know you can’t afford it), then you’ll have to spend your savings. There are no benefits or extra loans available to people who don’t want to lower themselves to cheaper accommodation.

i’m realising this now... just needed to come to terms with it and see if this sounded about right to other people- i was unsure whether this was a common occurrence lol
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Em1lyja
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(Original post by EricAteYou)
You can see if your university has a hardship fund. Quite often they do, especially now with the pandemic, and can help 'top-up' what the loan misses.
i’ll have a look i had no idea this was a thing - i’ve been looking at grants etc to see if i’m eligible - thank you !
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Em1lyja
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(Original post by tptp123)
Ur only option is to get a job that pays decent tbh
I know a few that made a lot of money from tutoring (A level or GCSE) during their degree
sounds like a good idea - i’ll be job hunting as soon as i move in haha
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Kerzen
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(Original post by Em1lyja)
sounds like a good idea - i’ll be job hunting as soon as i move in haha
Which University are you hoping to go to?
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Em1lyja
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(Original post by Kerzen)
Which University are you hoping to go to?
i’m hoping to study at cass business school
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username5604436
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(Original post by Em1lyja)
I’ve recently applied for accommodation in London and the rough amount i’ll be paying a month is £920. When calculating my student loan i should roughly receive £800 a month - not enough to cover my rent or any extra necessities such as food etc. I’m planning to get a part-time job when i start in september but i’m unsure this will be enough to cover everything as i’ll have travel expenses etc. I have some savings but wasn’t planning on spending them all at uni, I won’t be able to receive much financial support from family as I’m only supported by my mum. I know London is expensive but does anyone have any advice or tips? Please no comments on cheaper accommodation as this is the best prices offered by my uni without having to live somewhere horrible
I don't believe that lol, I rent in really nice a house share in zone 2 and it's £650 a month. Spending money you don't have is never a good strategy
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HorribleHatty
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(Original post by Em1lyja)
i’m realising this now... just needed to come to terms with it and see if this sounded about right to other people- i was unsure whether this was a common occurrence lol
Halls are crazy expensive, though a good way to meet people. My sister lives in a shared house in zone 3. Nice quiet area, short commute to the centre of London. She pays £600 a month.
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Kerzen
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(Original post by Em1lyja)
i’m hoping to study at cass business school
They offer a cheaper option and it looks just fine:

https://www.city.ac.uk/prospective-s...s/romano-court
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buggly21
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Student current account provide an overdraft which might help while you're finding a p-time job. You'll probs get like £7-9 an hr and work like 10-15hrs a week, so thats at least £70 a week... about £280 a month. That might help. But I'd defo encourage you look for more affordable accomm potentially as it sounds like you've not budgetted well
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Caz1234567
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I don't think you would be eligible for a hardship fund if you have the option of having cheaper accommodation but you don't want to pay for it. The hardship fund is for people who are already on the cheapest accommodation, working part time and still struggling to afford it. It's for people who have tried everything and the hardship fund is their last resort. I would recommend getting a job if you don't want to live in cheaper accommodation. You should try all avenues before looking into overdrafts etc.
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Em1lyja
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(Original post by Iasona)
I don't believe that lol, I rent in really nice a house share in zone 2 and it's £650 a month. Spending money you don't have is never a good strategy
idk these are the prices that have been offered,to me keep in mind it’s for halls. i’m not intending to spend money i don’t have- just needed some advice on whether this was a common problem and how people dealt with it
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Kerzen
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(Original post by Em1lyja)
Please no comments on cheaper accommodation as this is the best prices offered by my uni without having to live somewhere horrible
Adding to my earlier post, I'm curious as to where the 'somewhere horrible' is.
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Caz1234567
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(Original post by Kerzen)
Adding to my earlier post, I'm curious as to where the 'somewhere horrible' is.
It makes me wonder which room they are currently looking at. If its ensuite they can save money by having a room with a shared bathroom. If it's uni halls, they could look into flat sharing and renting privately. Intercollegiate halls are also a great option, usually cheaper and you don't need to worry about most of the paperwork that comes with renting privately. Also, the other uni hall you linked looks far better than some i've seen.
I plan on going uni in London and the accommodation I want is roughly £670 a month for an ensuite :dontknow:
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Kerzen
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(Original post by Caz1234567)
It makes me wonder which room they are currently looking at. If its ensuite they can save money by having a room with a shared bathroom. If it's uni halls, they could look into flat sharing and renting privately. Intercollegiate halls are also a great option, usually cheaper and you don't need to worry about most of the paperwork that comes with renting privately. Also, the other uni hall you linked looks far better than some i've seen.
I think so too, Romano Court looks just fine to me. The rent is £160 a week, so roughly £640 a month. It's really central as well.

That leaves roughly £160 a month, which is do-able.
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Em1lyja
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(Original post by Kerzen)
I think so too, Romano Court looks just fine to me. The rent is £160 a week, so roughly £640 a month. It's really central as well.

That leaves roughly £160 a month, which is do-able.
i haven’t explored this yet thanks for suggestion
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MKaur18
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(Original post by Em1lyja)
I’ve recently applied for accommodation in London and the rough amount i’ll be paying a month is £920. When calculating my student loan i should roughly receive £800 a month - not enough to cover my rent or any extra necessities such as food etc. I’m planning to get a part-time job when i start in september but i’m unsure this will be enough to cover everything as i’ll have travel expenses etc. I have some savings but wasn’t planning on spending them all at uni, I won’t be able to receive much financial support from family as I’m only supported by my mum. I know London is expensive but does anyone have any advice or tips? Please no comments on cheaper accommodation as this is the best prices offered by my uni without having to live somewhere horrible
I had the same problems occurring, I wanted to live alone which meant high rent that would not cover my costs.
I think you'll need a part time job, and I had to do the same as it was difficult to be able to pay for my cost of living, and going to buy foods etc. Try living in a further out zone, it'll be cheaper but course you'll need to consider costs of commuting or getting a bike
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