please help! should i take a maintenance loan or not

I'm starting uni this September and I've already applied for student finance but I'm unsure as to how much i should take as my maintenance loan. My parents want at least 200 a month and i need money for travel costs and food and general expenses this is a extremely stressful decision - do i take it all and be in loads of debt or limit myself also how much are interest rates this year and are your loans looking a lot more than what u first took out - any clarity or guidance would be appreciated

Reply 1

Clearing and Applications Advisor, Universities Forum Helper

Original post

by hgshs672-780-

I would always recommend taking out the maximum loan available to you.
The repayment terms of loans mean that if it’s bigger then that will mean the worst case scenario for repayment will be a few more month of repayments at a reasonable amount when you’re in your 40s.
Even if you don’t need all of the loan right now put it in a savings account. A few thousand pounds in savings when you first graduate to help pay a deposit on a flat or cover the costs of professional clothes or similar will have a much more positive impact on your life than having £50 less a month in your £2k paycheque in your 40s.