Maintenance Loan and London

lycane

Couple of questions regarding above.
If you study in London I found the highest you can get is 12,667 .Did any manage to rent a studio flat on his own while studying full time and cover everything from it? According to my calculation to survive you would need to find a flat for about 700 a month (everything inclusive). Are there any other options I am not aware of?
Once you have some income I understand the amount is reduced by the income you earn or not?

Also, a different situation.
If you own a flat (paying the mortgage) will you get a maintenance loan?

PS. Didn't mention it is NOT about undergraduate but postgraduate or MPhil /MFA depends on how the education outside of the UK will be taken into account

Thanks.

DullGreyGuy

Any reason for wanting a studio flat rather than a room in a share? Much more expensive having a self contained property. Unfortunately many need to work to make ends meet

MalMonroe

"Did any manage to rent a studio flat on *his own while studying full time and cover everything from it?"

*No women studying any more?

This may be helpful - https://www.gov.uk/student-finance/who-qualifies

Also this - https://studentfinance.campaign.gov.uk/

Because it all depends on which establishment you will be studying at, what you are studying for and how long your studying lasts. 

What about Uni accommodation? Cheaper, and a great way to meet other students.

Do you plan to also work full time? Because from my own experience of being an undergraduate student (now graduated with a 2.1 BA Hons) - that is nigh on impossible if you want to obtain good results. Part time is what I did - and it's still hard work. But well worth it.

MallyGirl

lycane said:

Couple of questions regarding above.
If you study in London I found the highest you can get is 12,667 .Did any manage to rent a studio flat on his own while studying full time and cover everything from it? According to my calculation to survive you would need to find a flat for about 700 a month (everything inclusive). Are there any other options I am not aware of?
Once you have some income I understand the amount is reduced by the income you earn or not?

Also, a different situation.
If you own a flat (paying the mortgage) will you get a maintenance loan?
Thanks.

Income earned by student (when parental income forms the basis of the calculation) doesn't affect maintenance loan amount.
I can't imagine you are going to find a studio in London with all bills included for £700 pcm.
Uni accommodation might be cheaper (although not always).
If parents can't help out then you will need to get a job alongside.

If you are counted as independent or are over 25 then it might be different rules

silvercar

May be worth looking on here: https://forums.moneysavingexpert.com/categories/student-money-saving