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Even the most brilliant of students feel a bit uncomfortable talking about pursuing their further studies abroad. No, they’re not worried about competing with other international students or settling down in a new country. They’re worried about the financial burden they put on themselves as well as their parents. Sure, there are scholarships to help these talented students but studies show that only 19% of students are able to qualify for receiving scholarships. The remaining 81% have to bootstrap their further education by way of personal savings or loans. It is imperative for these students to craft a meticulous budget before taking the plunge of pursuing their further studies.
Tuition cost aside, rent will form a major chunk of your budget. To have a clear idea of what your current financial state can get you, we’ve come up with a nifty “Student Rent Calculator”. This rent calculator takes into account all your incomes & expenditures and tells you exactly how much rent you are able to afford to pay per week.
Yearly student funding
Maintenance loan:£
| £0 | £11,354 |
Maintenance grant:£
| £0 | £3,387 |
Other special funding:£
One-off rental costs
Agency or moving fees:£
Deposit:£
Monthly income
Employment:£
Parents:£
Other income:£
Monthly outgoings
Gas & electricity:£
Water:£
TV, phone & Internet:£
Mobile phone:£
Food:£
Other shopping:£
Social life:£
Travel:£
Other outgoings:£
Your monthly rent budget
You can afford a monthly rent of around £ 0
That’s the weekly equivalent of £ 0
Remember, if you’re in a joint or group tenancy, make sure that everyone can afford the amount for the whole year! Share this page with them.
Average Student Rental Costs Across the UK
Here is a pictorial representation of a rent calculator per month in the UK-
FAQs on Rent Calculator
What is Maintenance Loan?
A maintenance loan is used to fund your day to day expenses, by getting money directly into your bank account. This money will have to be paid back but only after you start earning above the repayment threshold of £26,575. If you happen to lose your job for any reason or fall on hard times, your payments will stop once your income drops below the threshold.
What does my Maintenance Loan cover?
Everything! Once you receive your maintenance loan, you should immediately work out a realistic budget. It will need to cover the following: Rent (if you are living away from home),Bills, Food, Transport costs, Social events, Household goods, Books Once you know how much maintenance loan you have received, work out how much you can spend per month/week/day.
What is a Maintenance Grant?
It is a grant to help with your day to day costs while you’re studying. It is only available if your household income is below £41,065.
Do I have to pay UniAcco any agency fees?
Absolutely not. UniAcco does not charge students a single penny. All our services are free of cost
We hope you enjoyed this blog on student rent calculator. To know more about related fields do check out our other blogs.-
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