The Student Room Group

Should I take a gap year to make money?

Hey guys do you think I should go through a gap year to save up money (by having a full time job somewhere like a cafe) for uni since I heard people struggle a lot financially. Or will my maintenance loan help me with all my costs, right now my household makes like 30-35K a year.

Thank you:smile:
Original post by Clivierx
Hey guys do you think I should go through a gap year to save up money (by having a full time job somewhere like a cafe) for uni since I heard people struggle a lot financially. Or will my maintenance loan help me with all my costs, right now my household makes like 30-35K a year.

Thank you:smile:


There is a student finance calculator that you might want to try to give you an idea of what you could get:

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

Also, think about where you would like to study. London is expensive, northern unis usually have cheaper accommodation. Unis often have a cost of living page on their websites to give you an idea of the budget you will need.
Reply 2
Original post by normaw
There is a student finance calculator that you might want to try to give you an idea of what you could get:

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

Also, think about where you would like to study. London is expensive, northern unis usually have cheaper accommodation. Unis often have a cost of living page on their websites to give you an idea of the budget you will need.


Yeah I'm not gonna live in london, outside. You think I'd still need to take a gap year to save up in average?
Original post by Clivierx
Yeah I'm not gonna live in london, outside. You think I'd still need to take a gap year to save up in average?


Where do you intend to study and in what subject?
If you want a specific breakdown, I kind of need more detail. The biggest expense outside of tutition fees is rent. Everything else (travel, food, etc.) don't really amount to that much relatively.

I can understand if you need a gap year if you're doing a 4+ year course where you would need to be doing exams a lot of the time. However, for most standard 3 year degrees, you should be able to get by with student finance + a part time job. Most get by with working throughout most of the holidays as well as getting student finance + part time job.
Reply 4
Original post by Clivierx
Hey guys do you think I should go through a gap year to save up money (by having a full time job somewhere like a cafe) for uni since I heard people struggle a lot financially. Or will my maintenance loan help me with all my costs, right now my household makes like 30-35K a year.

Thank you:smile:

It depends. Typically parents roughly make up the difference between what you actually get for your maintenance loan, and the max £10K maintenance loan. If for example you get £5K, parents might contribute £5K to bring it up to the max £10K, or maybe the parents would pay for the student accommodation, which might be around £5K. If that is the case with you, then you should be fine, and you don't need to take a gap year, particularly if you get a part time job while at uni. You should have plenty of free time at uni, particularly during the long holiday, so no reason not to get a part time job.
Reply 5
Original post by MindMax2000
Where do you intend to study and in what subject?
If you want a specific breakdown, I kind of need more detail. The biggest expense outside of tutition fees is rent. Everything else (travel, food, etc.) don't really amount to that much relatively.

I can understand if you need a gap year if you're doing a 4+ year course where you would need to be doing exams a lot of the time. However, for most standard 3 year degrees, you should be able to get by with student finance + a part time job. Most get by with working throughout most of the holidays as well as getting student finance + part time job.


I'm planning on doing computer science and maybe doing a foundation year if I get the chance. What do you think now?
Reply 6
Original post by lalexm
It depends. Typically parents roughly make up the difference between what you actually get for your maintenance loan, and the max £10K maintenance loan. If for example you get £5K, parents might contribute £5K to bring it up to the max £10K, or maybe the parents would pay for the student accommodation, which might be around £5K. If that is the case with you, then you should be fine, and you don't need to take a gap year, particularly if you get a part time job while at uni. You should have plenty of free time at uni, particularly during the long holiday, so no reason not to get a part time job.


My parents make like 30 K so I should be eligible for like 9K a year I think (outside London)
Reply 7
Original post by Clivierx
My parents make like 30 K so I should be eligible for like 9K a year I think (outside London)

You should be fine, especially if you get a part time job. No need to take a gap years, unless you want it for other reasons.
Original post by Clivierx
I'm planning on doing computer science and maybe doing a foundation year if I get the chance. What do you think now?


You should be fine (assuming it's based outside of London or somewhere expensive) if you have a part time job or work hard during the holidays. Hopefully, your parents can support you financially during your time at uni.

The rent would be your biggest expense outside of tuition fees. Rent varies wildly based on location e.g. London vs Northern Scotland. I wouldn't know if your maintenance loan would cover the cost.
Reply 9
Original post by lalexm
You should be fine, especially if you get a part time job. No need to take a gap years, unless you want it for other reasons.


ahh okay, is it very likely I'd be able to get a part time job?
Reply 10
Original post by MindMax2000
You should be fine (assuming it's based outside of London or somewhere expensive) if you have a part time job or work hard during the holidays. Hopefully, your parents can support you financially during your time at uni.

The rent would be your biggest expense outside of tuition fees. Rent varies wildly based on location e.g. London vs Northern Scotland. I wouldn't know if your maintenance loan would cover the cost.


I should be getting around 9K for my maintenance loan and I am planning on studying outside of London so perhaps it should be fine. How much does accommodation normally cost per year for 1 bedroom with an en suite (flat share)?
(edited 1 year ago)
Original post by Clivierx
ahh okay, is it very likely I'd be able to get a part time job?


as long as you are flexible, yes. There are so many jobs out there for students e.g, pubs, restaurants, shops, supermarkets, for the uni etc
Reply 12
Original post by lalexm
as long as you are flexible, yes. There are so many jobs out there for students e.g, pubs, restaurants, shops, supermarkets, for the uni etc


okay that's a relief! Thank you.
Original post by Clivierx
I should be getting around 9K for my maintenance loan and I am planning on studying outside of London so perhaps it should be fine. How much does accommodation normally cost per year for 1 bedroom with an en suite (flat share)?


depends on the city - I think between £5K and £9K per year is norm, although if you want ensuite you might struggle to find anything on the cheaper end of that range.
Original post by Clivierx
I should be getting around 9K for my maintenance loan and I am planning on studying outside of London so perhaps it should be fine. How much does accommodation normally cost per year for 1 bedroom with an en suite (flat share)?


Again, it depends on location.

You can probably get one for £400 up north, but at least £600 down south. Locations a lot closer to universities tend to be significantly more expensive than those further away from the uni, and particularly cheap in village areas where they're not close to anything noteworthy. This also applies to transport links, schools (even though it's of no relevance to you), level of crime,
There are too many variables to account for and you can't really generalise like that.

If you're looking for a way to research prices of rooms, then I recommend using spareroom.com - it's my go to whenever I want a room to rent.
If you're looking for the prices of uni accommodation, then you need to go to the uni's accommodation website; they vary too much for me to comment.
Reply 15
Original post by lalexm
depends on the city - I think between £5K and £9K per year is norm, although if you want ensuite you might struggle to find anything on the cheaper end of that range.


Is not having an en suite a bad thing because you'll have to share showers and wouldn't that be gross?
Reply 16
Original post by MindMax2000
Again, it depends on location.

You can probably get one for £400 up north, but at least £600 down south. Locations a lot closer to universities tend to be significantly more expensive than those further away from the uni, and particularly cheap in village areas where they're not close to anything noteworthy. This also applies to transport links, schools (even though it's of no relevance to you), level of crime,
There are too many variables to account for and you can't really generalise like that.

If you're looking for a way to research prices of rooms, then I recommend using spareroom.com - it's my go to whenever I want a room to rent.
If you're looking for the prices of uni accommodation, then you need to go to the uni's accommodation website; they vary too much for me to comment.


Yeah that makes a lot of sense now, I really do appreciate the kind advice you've provided for me and I wish you all the best.
Original post by Clivierx
Is not having an en suite a bad thing because you'll have to share showers and wouldn't that be gross?


It depends on the flatmates/housemates.