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Loans and Accomodation

Hi There! I may have already posted something about accommodation for Bangor! I have decided that I want to try to go for one of the modern en-suites. However I’m a little confused on what loans I can get. Is a tuition loan the same as a maintenance loan And/Or is the maintenance loan, is whatever you have left over from your tuition after it’s been paid out?

I know how much my household achieves a year financially, therefore I believe I understand what I can get from the loans. This is all a little overwhelming for me as someone who’s going to uni for the first time in sept. Even if I know how much I should be potentially getting depending on the answers I get for the tuition and maintenance loans, should I just book my room? I know I have to pay for the 41 weeks in advance before I start anyways.

Also does anyone else on SFE know when the applications for the loans are opening? Or has that information not been released yet?

I thinks that’s everything I can think of right now.

Thank you

Reply 1

normaw

Volunteer Section Leader, Clearing and Applications Advisor

Original post by xstalx

You can apply for two loans - tuition fee and maintenance. The tuition fee loan is paid direct to your university in three instalments during the academic year. The maintenance loan is also paid in three instalments and goes into your bank account at the start of each term. If you know what your household income is, you can use the calculator to get an idea of what you might receive. Parents are expected to make up any difference in what you are awarded and the maximum loan (although in reality this doesn't always happen).

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

Double check the payment terms for your accommodation. It is unusual to be expected to pay for 41 weeks up front. Very few students would have the money to do this. Most accommodation contracts are paid termly and timed to coincide with when your maintenance loan instalment arrives in your bank account. Paying a small deposit when you receive an accommodation offer following results day is the usual practice.

SFE applications for 2025 are expected to open in March, but the exact date is yet to be confirmed.