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Loans and costs

I don't come from a very wealthy family but think I will get grades good enough to go to Uni and have always wanted to go. Everyone I ask when it comes to loans say they are either enough or to much. I was just wondering if i can really 'survive' at Uni only on student loans ???
Never use a loan shark
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Bue21
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It is difficult to answer the question without knowing if you will qualify for the full maintenance loan and where you will be studying. Every university has a range of accommodation and the same is true for rented houses. If you qualify for the full loan and are prepared to opt for shared facilities rather than en suite etc then you should be able to manage without too much trouble providing you don’t intend to party every night! If you don’t qualify for full maintenance loan and your parents can’t contribute as much as they are deemed able (the calculations only consider income not expenditure so many many families simply can’t afford the full contribution) then things may be different depending on how much you will have. Many students in this position have no option but to take on part time work.
Hey,

It really is dependent on where you are going to university, the cost of living and anything you do outside of your studies.

The biggest cost of university is accommodation, if you are living away. Have you already looked into the prices of where you are going? And, do they include bills? You can go onto the student finance website to see how much loan you are eligible for, if you haven’t already applied. You can then figure out how much money you have left to live on for food, essentials and any extracurricular activities you want to do.

From this, you’ll get an idea of how much money you actually have and whether you need any extra support. You can look at bursaries, scholarships and even part-time student jobs.

Either way, budgeting is a great way to make sure you aren’t overspending and have enough money for the things that you need.

I hope this helps ☺️
Sara
Coventry University Student Ambassador

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