Maintenance Loan doesn't cover student accommodation

Watch
chw.prudence
Badges: 4
Rep:
?
#1
Report Thread starter 1 month ago
#1
I just received my student finance letter (I know, late. There were issues getting a new passport from an oversees embassy) and its not enough to cover rent, talk about other expenses. My guardian doesn't earn close to £60k (closer to around £26k) and I only moved out because there are too many of us in one house. I live in the cheapest accommodation on campus already too. I got a job, but even then I won't be able to cover the excess. Is there anything I can do?
0
reply
PQ
Badges: 21
Rep:
?
#2
Report 1 month ago
#2
SFE will award you the basic loan amount first (and as quickly as possible to make sure you have something). When they have assessed your household income then they’ll increase your loan amount upwards.

In the meantime if you will struggle financially then speak to your landlord about adjusting your rent payment dates to spread the cost. Find some work asap (even cleaning work can pay quite well and work around uni time). Sign up for a student bank account with the largest interest free overdraft in yr 1 and talk to your university about hardship funds.
0
reply
chw.prudence
Badges: 4
Rep:
?
#3
Report Thread starter 1 month ago
#3
How do I know this isn't my means tested amount? I got roughly 4.1k, I don't think that's the base amount. There's really no indication on the SFE website. Plus I had to submit my household information through the online form instead, so there's no indication they received it.

Thank you for your help though, you've cleared up some of my thoughts. I'll call SFE today and ask for more information.
0
reply
PQ
Badges: 21
Rep:
?
#4
Report 1 month ago
#4
£4 and a bit thousand is the basic loan amount. It takes around 6-8 weeks after submitting your household income information to be assessed on average. SFE try to get things done quickly this time of year.
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

Has your education been disrupted this academic year due to the pandemic?

Yes (124)
87.32%
No (18)
12.68%

Watched Threads

View All
Latest
My Feed