The Student Room Group

Early maintenance loan payment

Hello folks. It's honestly a little embarassing to admit, but during my last year of my undergraduate degree, my maintenance loans have been approved, but I wanted to see if theres any known way to get a loan paid earlier? As I'm sure is the case with a lot of people, rent as a student is somewhat extortionate, and the way the payments have been spaced out has left me pretty much high and dry.

Rent is in the 700s a month, and with my loan being split into three payments, September2023, Janurary2024 and May 2024, the last one being paid pretty much as my course ends (and is for some reason the biggest one), means that after making my monthly rent payments, travel expenses, food etc, I'm at a point where I'm pretty much high and dry at this point.

Financial hardship is nothing new to a lot of people, but at this point I'm just robbing Peter to pay Paul. It's getting to a point where its going to affect my credit score, and I really just cant tide myself over until May, I just don't have the means. Job market definately isnt helping.

So yeah, I wanted to see if anyone knows whether or not getting maintenance loans paid earlier, or split into two, is at all possible. It's just that final stretch now.
(edited 1 month ago)
Original post by HellaJ
Hello folks. It's honestly a little embarassing to admit, but during my last year of my undergraduate degree, my maintenance loans have been approved, but I wanted to see if theres any known way to get a loan paid earlier? As I'm sure is the case with a lot of people, rent as a student is somewhat extortionate, and the way the payments have been spaced out has left me pretty much high and dry.
Rent is in the 700s a month, and with my loan being split into three payments, September2023, Janurary2024 and May 2024, the last one being paid pretty much as my course ends (and is for some reason the biggest one), means that after making my monthly rent payments, travel expenses, food etc, I'm at a point where I'm pretty much high and dry at this point.
Financial hardship is nothing new to a lot of people, but at this point I'm just robbing Peter to pay Paul. It's getting to a point where its going to affect my credit score, and I really just cant tide myself over until May, I just don't have the means. Job market definately isnt helping.
So yeah, I wanted to see if anyone knows whether or not getting maintenance loans paid earlier, or split into two, is at all possible. It's just that final stretch now.
Hi Hella,

We are unable to change the payment dates as these are paid in line with your term dates of university. If you are in financial hardship, you can complete the financial hardship form and send this with evidence showing any obligation payments and 3 months of bank statements for you to be considered. Just to confirm, when is your next payment scheduled for and when did your academic year begin? Thanks, Jason

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