Question regarding student financing for uni

Hello, I am currently at the end of Y12 at sixth form. I am hoping to apply for a top university for maths (Currently focusing on Cambridge and Imperial), but I am concerned that because I made the choice to fully focus on my studies this year, and then look into a job towards the end, as I am doing now, that I might have screwed myself over, because I have only truly been made aware of the costs of just everything at uni and I am very worried that I might not be able to afford to go there even if I can get in. On the other hand, I also need to get the top grades, so I need to dedicate my time to study too, so of course I need that balance, but I am very worried I have messed up. Because of where my family lives, although we are by no means rich, the average cost and payment is higher on average, so I qualify for pretty much no student loans despite not being in an advantageous position where I have other support, so when I get there, I will need to be prepared for that. I was wondering if, given where I am in the college process, if it is better to totally prioritise making money over the summer, or if I should do a blend of study and work. I worked a good number of jobs prior to sixth form and saved pretty much all of it, so I have a good beginning, but I know it will be next to nothing, especially at somewhere like Imperial because London.

Reply 1

normaw

Clearing and Applications Advisor, Universities Forum Helper

Original post by MathsEnjoyer

Because of where my family lives, although we are by no means rich, the average cost and payment is higher on average, so I qualify for pretty much no student loans despite not being in an advantageous position where I have other support,

Even if your family has an annual income over £62,000, you can still apply for the minimum maintenance loan. This is currently around £4,650 for living away from home (it's more if you study in London). Your parents would then be expected to top up your loan to the equivalent of the full loan (£9,978 outside London). You can work out what you're likely to get using the following calculator:

https://www.gov.uk/student-finance-calculator

The following article is worth a read (get your parents to read it too):

https://www.moneysavingexpert.com/students/student-loans-england-plan-5/

The other options you can consider:

•

take a gap year and find a job to help fund you through uni

•

consider applying to unis with lower living and accommodation costs, such as Durham and Lancaster

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