23 replies to this topic

[Benjy25]

Hi, for anyone who doesn't know me my names Ben and I basically spend my life on TMF!! LOL

Anyway I'm in my second year of college and off to uni in 2010. I'm looking for a bit of advice as I'm getting worried about how I'm gonna survive!!
Although I'm gonna live at home I obviously still want to have as much money as possible to start off with however its confusing me =[. I hear the words grants, bursaries and loans. What am I entitled to assuming I'm living at home??
Any advice is welcome

Thanks

Ben

[cooperdan]

All of it you can apply for...

it comes down to your parents in a way, what there incomes are to the household.

then from there you will find out what you are entitled too...

the loan and fees are up to you its the bursaries and grants which are only agreed once student finance have desicded on your parents circumstances

[AdamBilsy]

I believe there is a maintanence grant worth upto 2650(or something like that) and different bursaries depending on what college you came from. To recieve the grant I think you have to take out the loan first I think.

Hopefully someone can help more than that.

[zebidee]

If your living at home, that will affect the amount you are entitled to immediately. Your parents income will be the next deciding factor. I know from experience that if the household income is anywhere over £70,000 you get less than you actually need to simply live on, its a ridiculous system!! Have a look at the Student Finance website, it will give you a bit of guidance to what you can expect

[l_jonez]

you might be better off moving out, plus its more of the uni experience living on your own etc and much more fun

[Ouster]

I was very lucky that my parents split up before I went to Uni. Combined salary they would have been over the threshold (at the time) for any bursaries or grants, but if I said I lived with my mum I could claim everything - that's the full loan (£3000 or so), tuition fee loan (£3000), non-repayable grant of £2700, and a non-repayable bursary from my Uni of £2000. I said I was lucky they split up, because without receiving this I severely doubt I could afford Uni - they certainly couldn't give me anything towards the cost of it, and I wouldn't expect them too either.

Helpful fact - if you get any form of grant, your University has to pay at least £300 in bursary to you.


Edit: I'll echo the above and would definitely recommend living in halls. Yes, it'll cost a bit more, but your loan goes up a to reflect this. You really don't want to miss out on the stuff that goes on in Uni halls!

Also, it's not a "proper" loan - the interest is very low and when it comes to paying it back (when you've graduated and earning over £15k a year) then it's only 9% of your yearly salary.

Edited by Ouster, 15 December 2009 - 08:49 PM.

[redhotminilewis]

Going to uni in 2010 too. I'll be moving out because i want to be free, however it comes at a price. if you stay at home you still get loan for accomidation becasue i was talking to my head of year and she spent her accomidation loan on a new car and stayed at home. not advisable though. but yeah, pretty much been said already.

I mean you only really need to worry about money if youve applied for a doctors degree at oxford. £25,000 a year if i can remember rightly nothing like a good education is there.

[danie garry]

i'm in college now, away from home and BROKE, still waitin on the grant to come through. i usually bring enough food from home to feed an army so thats sorted, as long as i have enough money for petrol and enough for the nites out its all good! college is some of the best fun ever tho!
the grants and assistance funds are done on u'r parents incom so dont worry bout the living at home part

[asmith88]

im at uni away from home and get 3070 for tuition, £4150 for loan, £350 for maintance loan and £250 from university bursary, bursarys depend on you course and university, some people in my uni get up to £1250 bursary which doesn't have to be paid back, it will say the amount, if anything on you university course website.

My sister pays £1700 a year for fees (scotland) gets a £600 bursary and a £1200 loan, she lives on that away form home in edinburgh rent being £300 pcm, which is impressive if you ask me!

I would stay at home, at least for first year, get a tution loan, and depending on if you get a bursary, i would get a partial loan, you can specify the amount you want you daont just have to have all or nothing!

[shorty]

im still at home my 2nd year into uni

and i get the full tutition loan and the full maintenance loan im entitlted to without having to show parents income which is something like 2700 i think

theres also an access to learning grant at my uni which entitles people who apply for extra money say for travelling to uni on public transport each day

[mini_mad69]

No matter how much you get, you will never think it's enough.

Oh and living at home will mean you miss out on alot of the uni experience.

Im lucky in one way, my parents pay rent and tuition fees. So I applied for the maintainance loan.


You WILL!!!!! need a job if this is all you apply for. It is all dependant on your parents income unfortunatly, which is wrong in my opinion, my parents are quite generous paying for me, although I know some people's parents are extremely wealthy and give their children minimal financial support, and they get minimal loans etc.

[chelseahelen]

Just had a letter from Student Finance today about loans and the like for 2010 - what will be my second year at Cov Uni.

Income up to 25k - full grant, between £20 001 and £50 020 partial grant (doesn't give figures) and more than £50 020 - no grant - this is based on household income.

Loan - students living away from parents and studying in London - up to £6 928. Students living away from parents and studying elsewhere - up to £4950. Students living at home - London and elsewhere - maximum of £3 838.

Bursury, paid by your uni (Feb of each year) £320 as it currently stands.

Hope this helps, Helen

[bamby]

go throught the student finance website and take the advice above and fill it out tick the box for maximum ammount but one key tip APPLY EARLY! if you dont youll be waiting a long time

oh and dont go anywhere near UOC!! Im in my 2nd year doing s 4yr qts with sen

[me madjoe 90]

I was very lucky that my parents split up before I went to Uni. Combined salary they would have been over the threshold (at the time) for any bursaries or grants, but if I said I lived with my mum I could claim everything - that's the full loan (£3000 or so), tuition fee loan (£3000), non-repayable grant of £2700, and a non-repayable bursary from my Uni of £2000. I said I was lucky they split up, because without receiving this I severely doubt I could afford Uni - they certainly couldn't give me anything towards the cost of it, and I wouldn't expect them too either.

Helpful fact - if you get any form of grant, your University has to pay at least £300 in bursary to you.


Edit: I'll echo the above and would definitely recommend living in halls. Yes, it'll cost a bit more, but your loan goes up a to reflect this. You really don't want to miss out on the stuff that goes on in Uni halls!

Also, it's not a "proper" loan - the interest is very low and when it comes to paying it back (when you've graduated and earning over £15k a year) then it's only 9% of your yearly salary.

if you get a job earning over 15k you would be suprised at how many people leave uni with out a job and they have some stupid degrees........... I dont like education it should stop at high school and only a selected few should be able to go to collage an then uni, they just made learning/teaching into a money making scheem so half of its not worth the time people wast on it. You just end up skint in the end with alowed of money you owe people.

Oh well im doing a good old aprentiship(for hard working people) after collage as I found that collage is waste off time

Edited by me madjoe 90, 16 December 2009 - 05:56 PM.

[greggy50]

If anyone could give me a hand on what I can get would help me a lot
Dad earns around 55k a year
Mum earns about 7k a year
I dont think I can grants but dunno what loans are available as think I am going to be a few thousand short