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Issues with finance-please help!! watch

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    Hi guys! New here. But I'm in urgent need of help!

    I am only just applying for student finance. Late, but my father (the breadwinner lol) has been out of the country so I havent had a great deal of choice.

    Upon getting my calculation, the Maintenance loan is only about 65% of what my accomodation costs will be...


    Is this normal? If so, is it simply a case of paying the rest yourself in some way??

    Anyone else experienced/planning to overcome this?? It's kinda intimidating...:woo:

    Thanks,

    -James
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    I doubt if anyone's maintenance loan will cover accommodation. Parents or part time work are expected to contribute.
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    Don't you get a mainenance grant along with the maintenance loan as well though?
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    only if your parents' income is below a certain threshold.
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    It all depends on your parents income really, and considering most university accommodation is quite expensive (well, it's expensive everywhere...), generally the loan doesn't pay all of the accommodation off. That's what savings/overdraft is for! As someone else already asked, do you get a grant or bursary?
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    (Original post by Jthe1B)
    Upon getting my calculation, the Maintenance loan is only about 65% of what my accomodation costs will be...
    Where will you be living, and have you gone for the upper-end accommodation (i.e. en-suite, big room, more facilities), if you don't mind me asking?

    I'm only curious as my maintenance loan easily covers my accomodation costs, of around £3,200, and that still leaves me with some left over. I know some places are more expensive, but to only cover 65% of your costs the accommodation must be very expensive?

    Generally, though, most of us will have to find an extra income to get by, as the Maintenance Loan by itself won't be enough to cover everything you'll need to buy in a year.

    Student Finance will make a reccommendation of how much your parents should contribute (but there is no obligation for them to), and any more money you need is down to you to raise, most commonly through part-time work.
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    I was in a similar situation, i had to get a part time job working weekends (spoons ) and really had to make the most of my student overdraft. I recommend halifax as they have a max a 3k (you dont get all that first year). However NOT if your wanting to avoid getting into alot of debt!

    Did you apply for the fee's loan also?
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    Thanks for all the replies!

    Right, basically the tuition loan covers the costs exactly.

    I am going to Birmingham Uni. Accomodation- catered, but the cheapest avaliable in that way (shared bathroom etc) is £5,903. **** me, I thought, that's expensive, but apparently thats the cheapest avaliable for what I'm looking for (Shackelton)
    And the Maintenance fee avaliable to me is only about £3,500. So no where near enough.

    You say about getting a job- doesn't the cost have to be paid upfront? So I couldn't pay the accomodation costs alone by that method- although living of course I could (assuming jobs are avaliable in this trying time)...

    My parents in come is in excess of £60,000, so no grants for me as far as I'm aware...
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    Ok to compare, these are the charges for the uni i went to:

    Charges in 2009/10 for undergraduate single rooms in College are:
    Standard Rooms
    * 38 week let - £3,134.58
    * 51 week let - £4,167.70

    Ensuite Rooms
    * 33 week let - £3,280.20
    * 38 week let - £3,791.40
    * 51 week let - £5,041.00

    Then by my calculations 30quid per week on food is : £1050 (Assumin you only buy food for the 30ish weeks of term time. So that still seems a little on the steep side.
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    Ahh, forgot to say that I have a meal plan with my accomodation, 42 week residence.
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    (Original post by Jthe1B)
    Ahh, forgot to say that I have a meal plan with my accomodation, 42 week residence.
    Ye i just had a look and it is pretty steep for the accomodation, but from what i can gather, you are wanting to stay in the most expensive places (excluding ensuite in same place). If your that worried maybe consider Ashcroft as an alternative and cook for yourself. would save yourself thousands, literally.
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    Well I've already applied for accomodation....may seem like a mistake but, whatever happens, I want to know that I will have food and shelter. Given the limited finance and...knowledge of many people, going self-catered in the first year doesn;t seem good to me...
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    (Original post by Jthe1B)
    Well I've already applied for accomodation....may seem like a mistake but, whatever happens, I want to know that I will have food and shelter. Given the limited finance and...knowledge of many people, going self-catered in the first year doesn;t seem good to me...
    You'd be supprised how people manage to cope.

    Although now i think on my first year staple diet was 9p tesco noodles on toast! It did force me to learn to cook though, and now i can eat really well for pretty cheap. But i didnt have a choice, everyone was self catering. Good luck anyway! Things usually work themselves out (hahaha always wanted to say that... makes no sense!) :unsure:
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    Ha ha well I guess we'll see! Thanks
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    I dont understand catered accomodation, it costs alot... and I went to uni to be independent, not have school dinners at set times.

    Yeh, self-catered is the way to go.

    I rent a house, asked if i could pay all rent at once and got money off £3210, covered by loan. My parents are veryveryveryvery nice and give me some money. Even in manchester its really hard to get a part time job now (trust me i have tried) If i didnt have my savings (from my parents earlier in life lol) or money from my parents (thankyouthankyouthankyou) i literally wouldnt be able to eat... i feel sorry for anyone whose parents dont earn as much as mine.

    Advice - NEVER BUY ANY BOOKS unless you really want them, i was told to spend £140 on books in first year and stupidly i actually got them. NEVER buy books, go to the library (i didnt even open mine anyway,. useless!)
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    (Original post by Hanvyj)
    Advice - NEVER BUY ANY BOOKS unless you really want them, i was told to spend £140 on books in first year and stupidly i actually got them. NEVER buy books, go to the library (i didnt even open mine anyway,. useless!)
    This is very true, the library will have all the books that you will use, i also spent alot on pointless textbooks!
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    (Original post by Hanvyj)
    I dont understand catered accomodation, it costs alot... and I went to uni to be independent, not have school dinners at set times.

    Yeh, self-catered is the way to go.

    I rent a house, asked if i could pay all rent at once and got money off £3210, covered by loan. My parents are veryveryveryvery nice and give me some money. Even in manchester its really hard to get a part time job now (trust me i have tried) If i didnt have my savings (from my parents earlier in life lol) or money from my parents (thankyouthankyouthankyou) i literally wouldnt be able to eat... i feel sorry for anyone whose parents dont earn as much as mine.

    Advice - NEVER BUY ANY BOOKS unless you really want them, i was told to spend £140 on books in first year and stupidly i actually got them. NEVER buy books, go to the library (i didnt even open mine anyway,. useless!)

    I don't understand self catered accommodation.
    Buying food, eating rubbish (pepople on here talk of living off Netto noodles!), washing up, throwing food away.

    Yes, catered is the way to go.
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    (Original post by roubiliac)
    I don't understand self catered accommodation.
    Buying food, eating rubbish (pepople on here talk of living off Netto noodles!), washing up, throwing food away.

    Yes, catered is the way to go.
    Exactly. The way I'm doing it is a meal card- so I can buy food to take away, I dont need to eat it at set times. And at least then I feel obliged ot keep a consistent diet.
 
 
 
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