Student loan question

[nst68]

Hi

My daughter is looking at going to Uni in 2016.

Does the maintenance loan increase every year or does it stay at the value when you start?
Logic says it increases, but this is the government we're dealing with

 

[tom_e]

Hi

My daughter is looking at going to Uni in 2016.

Does the maintenance loan increase every year or does it stay at the value when you start?
Logic says it increases, but this is the government we're dealing with

You get the same each year unless your circumstances change AFAIK why would you expect it to increase?

 

[cheesyboy]

There's an inflationary increase.

 

[Diagro]

It stays the same.

Why would it increase?
You need to tell your daughter to save her money, DONT go and spend £100 a week on drinking. It runs out VERY quickly.

 

[nst68]

I thought it would increase as assumed the rents on the rooms would also increase, so I expected an inflationary increase like cheesyboy said.

 

[Diagro]

I thought it would increase as assumed the rents on the rooms would also increase, so I expected an inflationary increase like cheesyboy said.

Oh no it doesnt. If rent goes up then its tough luck.
She will need to shop around for the best rent, house share to save on money.

Better yet, you can support her too

 

[tom_e]

I thought it would increase as assumed the rents on the rooms would also increase, so I expected an inflationary increase like cheesyboy said.

It's been a while since I had my loan but even an inflation based increase is only really a couple of quid nothing you'd notice.
Rent does increase when you go from halls to private rents but that's your problem, in a lot of places rent alone wipes out all of the loan and more.

 

[cheesyboy]

Rent does increase when you go from halls to private rents but that's your problem, in a lot of places rent alone wipes out all of the loan and more.

Not for me it didn't.

Back in 2000-2003, I paid ~£75/week for halls in my 1st year, then £150/month for private rent.

 

[nst68]

So if there's a 1st and 3rd year student in the same type of accommodation (paying the same), then the 1st year will be better off because their maintenance loan will be higher?

 

[TNGL]

It's been a while since I had my loan but even an inflation based increase is only really a couple of quid nothing you'd notice.
Rent does increase when you go from halls to private rents but that's your problem, in a lot of places rent alone wipes out all of the loan and more.

Not really, I paid £240 a week this year in halls and I'm looking at roughly £170 - £190 for something in the same area if I go private.

Something to bear in mind for your daughter though, if possible, do try and make it possible for her to live in halls if she hasn't already got friends she could house share with. It makes a reasonably big difference to how your uni experience pans out, at least from what I've seen.

 

[.Lethal]

So if there's a 1st and 3rd year student in the same type of accommodation (paying the same), then the 1st year will be better off because their maintenance loan will be higher?

No.

I suggest you ring the student loans company directly, they'll be able to advice you better than the varying comments here. Their phone number should be listed on their website.

 

[tom_e]

So if there's a 1st and 3rd year student in the same type of accommodation (paying the same), then the 1st year will be better off because their maintenance loan will be higher?

no because the loan stays the same pretty much, the 3rd will probably be better off because they'll have a bit less time to go peeing it up the wall (In theory).

 

[Macky]

Rent at halls was more expensive than rent in a private house for me. You have to reapply for student finance every year as well so if your circumstances change then you can tell them about it.

 

[Semple]

My maintenance loan was reduced over the years, despite household income remaining the same. With the majority of people that loan will all get used on rent, so money needs to be found for food etc.

 

[nst68]

Is £75 p/w (all bills) in halls cheap?

 

[tom_e]

Where will she be going?

 

[nst68]

Essex (Colchester), it's the cost of rooms in the Towers.

Others in here have said that their loan only just covers their accommodation, I've done the maths and the halls come to under half the loan amount.

£5727 a year.
£1909 a term
£190.90 a week.

Does this look right?

 

[Tacitus]

Essex (Colchester), it's the cost of rooms in the Towers.

Others in here have said that their loan only just covers their accommodation, I've done the maths and the halls come to under half the loan amount.

£5727 a year.
£1909 a term
£190.90 a week.

Does this look right?

Depends on when the lease begins and ends. My halls (at Edinburgh Uni) were £108 per week, but I had them for 9 months. That included electricity, internet, etc.

In second year, when I got my first private rent it was like £300 per month, not including internet, electricity, gas etc, and it worked out more expensive overall.

Now finishing fourth year and hopefully going on to do a masters, the average rent is around £400 before any other costs, and it only goes up. The next occupants of the flat I'm currently in will be paying £30 more per person than I do.

Edinburgh is obviously going to be different, it has a massive uni and is a really desirable city to live in, but private rents go up and up and up.

If half of her loan will cover rent costs, perhaps suggest she sends back some of her loan payments to you to save away in case she needs extra money in second or third year for increasing rent costs, and if she doesn't then #Maga2k18, or something more cultured

 

[sigma]

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