University accomodation payment

taurusgb

My DD2 is off to uni in September - never had to do this before so on a steep learning curve. As we understand it, loans and grants are paid at the beginning of every term but presumably the university will want paying in advance for accommodation before the begining of the term. Given that we are not well off, does the loan/grant come through in time to pay the residence fees or are we looking at finding a lump sum we don't have?

Lokolo

Usually that is the case but as it is university they usually make it so they loan payments happen before accomodation is due.

juno

It really depends on the uni. Many will let you pay upfront or in installments. However, some accommodation fees are more than the maintenance loan!

mellymeep

Most accommodation I've seen take the payments a couple of days after your maintenance loan instalments anyway, so you shouldn't have a problem. Unless of course it costs more than the amount of money you receive, which is getting more common these days because accommodation is bloody expensive, in which case you'll have to get a job to make up the rest, or look into cheaper places.

busiscoming2

As has been said it depends on uni and it seems luck of the draw. When my dd went we were not forewarned about having to pay accom fees before keys were released, the loan didn't get paid to the students until they had registered which was about 3 days AFTER they went into halls, luckily I had a credt card which I used to pay it. Some of her peers were still awaiting their loan payments well into October. When my ds1 went last year again I had to pay on the C/C! They would not accept a post dated cheque either. This was LSBU, so can only comment on them.

rb10

Apply for your student loans etc NOW! That way it gives you a better chance of getting the money right at the start of term, and not being one of these people who is still waiting in the middle of October.

https://www.direct.gov.uk/studentfinance

tinkerbel

I had to pay about £125 I think before I moved in and therefore before I got my loan.
Perhaps your daughter could work over the summer and try to save a little for any lump sum/retainer/deposit she may have to pay?

Char_pdc

Hi

I can only speak from my university, but the residence fees were due after the loan came in. I think they understand this is how most student's pay their fees.

I did however have to pay £150 (2005) before that to cover processing fees and a damage deposit. I may have had to pay this before I got my exam results but I can't be sure.

My sister who stayed in halls two years ago had to pay £175! :eek: These are London amounts tho so it may be less depending on where she wants to go

MadeInTheDark

Universities normally set accomodation payment deadlines after loan instalment payments and these are typically paid termly. I am speaking from the first hand experience of two universities and from knowing most of my friends at other universities have not had a timing problem with money. The main problem students typically run into is delays in loan payments because they applied late for the money.

Normally a small-ish deposit will be requested upon your acceptance of the accomodation/university place you have been offered. This shouldn't be too much, mine were £100 and £120 (different unis). This is mainly to ensure that you take up your place and the room doesn't go to waste, and is often used as a damage deposit. Some or all of the money may be refunded at the end of the year, if no damage has been caused, depending on the university. But some unis have a habit of taking an inflated amount out of this deposit for 'cleaning costs' at the end of the year.

Main thing is to check with your university, look at their accomodation information, either if they have sent it to you (they should have) or otherwise online. Payment dates for accomodation should be available in this information and if it isn't, request it.

maple41

My daughter is in private accommodation at uni and although the accommodation company gave the dates that they required payment they have so far deferred the date until 2 days after the date of the grant payments without asking. Apparently they know when the grants are generally paid by Student Loan Co and know it is not in their interest to request payment before as they only get hit for bank charges for all the unpaid direct debits.

whitfreak

Check with the uni. Durham for example, you given your bill when you arrive but its not due for a couple of weeks so after the time when loans/grants come through. And your loan is delayed they are normally very good about not charging late fees if you keep them informed of whats happening.

Note for second year students generally live in private lets/ accomidation not owned by the university. This normally means that the deposit is larger, and monthly rent bills for a year rather than just (potentially) term time. So you may find your daughter is renting a place from july even though she doesnt need it till september so needs to find a couple of months rent before the second years loans kick in. I'd hope most landlords would happily wait until the loan came through, but its something to be aware of.