(Original post by Orthala)
You get charged £680 a month rent!?!?! Blimmin Jesus thats loads. I pay £225! My friend in Soton pays £300 and his is expensive.
Ok - Student Loans is just basically a government company which are the inbetween people for loan for studying. You apply to them etc.etc.etc. and get your money into an account you choose..
.. most of the time this happens to be a student account. A student account is pretty much a current account, with a debit card, online banking etc. but with a few incentives, such as an interest free overdraft, free money, railcard or whatever. Depends on the bank to what you get.
Interest free overdraft limits depend on the bank you go to and the situation. Halifax give upto (upto being a key word with overdrafts) £3000, but majority never get anywhere near this. HSBC give upto £1000. It depends how well you use the account, how much money goes in and credit rating. This means you can borrow upto the overdraft limit (making your account be in a negative balance) with no interest charges.
Obviously banks want you to stick with them so in their terms and conditions they usually put something in to say you must only have 1 student account. So that when you finish uni, in your overdraft, you then get charged interest and the banks earn their money back.
How much student loan are you getting?
Are you currently at uni, and the costs above are what you are having to pay? (the £600 odd a month)
Ohhhh no, I obviously didn't explain well or you misread.
I am on a gap year before I start uni. After being taxed, my monthly wage is £980. My parents then take £300 of that, leaving me with £680... That's where that figure came from.
Anyway, I can get the smallest maintenance loan possible. I think it's around £3700. When my accomodation next year is going to cost £4200. And so, if it wasn't for me working this year, my loan AND overdraft are pretty much gone.
(All being if i understand this correctly, lol)
Also, does my tuition fee loan come from the same place as my maintenance (LEA?)
And I don't remember the figure, but I remember being at Aston open day at a student finance talk, and since my parents' income thing is in the top one, I get the minumum loan.
I hate that it's all income assessed, why do they think that my parent's are just going to pay for me all the way through uni?