The Student Room Group

Student finance - URGENT

I’m not very knowledgeable about this topic so excuse me if I sound silly. I am currently applying for student finance and Im going to be moving out into a studio this year which will be around 185-200 a week and I was wondering if a student finance was enough or do I need to apply for a maintenance? I’m worried because cause I’ll be moving to a different city, the tution fees are around 8000, what shall I do??
Reply 1
Original post by user12738290
I’m not very knowledgeable about this topic so excuse me if I sound silly. I am currently applying for student finance and Im going to be moving out into a studio this year which will be around 185-200 a week and I was wondering if a student finance was enough or do I need to apply for a maintenance? I’m worried because cause I’ll be moving to a different city, the tution fees are around 8000, what shall I do??

Im pretty sure the normal student finance only covers for your tuition fees. You will have to apply for a maintenance loan.
Reply 2
Original post by madforcs
Im pretty sure the normal student finance only covers for your tuition fees. You will have to apply for a maintenance loan.


It says I can get up to 10,000, would it be smarter to only get 4k but I’m not sure that will be enough for my living costs
Reply 3
The best thing to do is to calculate it. If u want to get the 4k maintenance - divide it by 3 to give you an average of how much you’ll get per term and then calculate your rent termly to see how much you’ll owe. If you’ve already booked your accom you’ll be able to see it if you picked to pay per term.

Now, imo- 4k will not cover the rent, however if you have any other source of income to top it off, then you could be okay.

I calculated my potential Sfe to my potential rent early (cuz I knew roughly what I’d get and what the accommodation would cost per term). This helped cuz I knew what my budget was and picked the appropriate accommodation.
Reply 4
Original post by user12738290
It says I can get up to 10,000, would it be smarter to only get 4k but I’m not sure that will be enough for my living costs


On that note, go for the additional. It would help cover your rent. (Btw in my previous reply I’m not 100% on the calculations. I didn’t explain it right, but if you look it up, there’s info that can tell you how, which is what I did).
Reply 5
Please see my reply to a similar post, especially about parental contributions. The government assumes most parents will help their children financially, unless household income is below £25000 per annum.
The link’s below:
https://www.thestudentroom.co.uk/showpost.php?p=99382212
Reply 6
P.S. My child needs £13000 a year for living expenses alone.
They have had the maintenance loan, some family money and money from part-time paid work coming in.

Estimate your outgoing costs for:
Rent
Food & home
Transport
Social
Course costs (Books, equipment, hire, photocopying, placements)

This gives an idea about whether to apply for university funds or external scholarships. Look at your uni website for further information.
Original post by user12738290
I’m not very knowledgeable about this topic so excuse me if I sound silly. I am currently applying for student finance and Im going to be moving out into a studio this year which will be around 185-200 a week and I was wondering if a student finance was enough or do I need to apply for a maintenance? I’m worried because cause I’ll be moving to a different city, the tution fees are around 8000, what shall I do??

Most student who apply for student finance receive a tuition fees loan and a maintenance loan. The tuition fees loan is paid directly to your uni by the student finance body. The maintenance loan is paid to your bank account at the start of each term to help you pay for accommodation and living expenses. Unless you have savings or family help, you will need to apply for the maintenance loan too. To get a higher maintenance loan, you will need to get your parents to submit details of household income.

For you accommodation contract, also look at the length of the term (in weeks). This can vary a lot and make it very expensive.
(edited 2 months ago)

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