The maintenance loan is paid in three instalments, one at the start of each term. Many first-year students spend too much in the first weeks and struggle by March. A simple budget drawn up before term starts makes the loan go significantly further.
How much you receive
For 2025/26, maximum maintenance loans for English students living away from home and studying outside London are around £10,227 per year. London-based students receive up to approximately £13,348. The amount tapers with household income - check your Student Finance England award letter for your exact entitlement.
Typical monthly costs by city
Student living costs vary widely across the UK. Approximate monthly budgets:
- London: £1,400 to £1,800 (rent alone often exceeds £900 for university accommodation).
- Bristol, Edinburgh, Brighton: £1,000 to £1,300.
- Manchester, Leeds, Birmingham: £850 to £1,100.
- Sheffield, Nottingham, Newcastle: £750 to £950.
- Smaller university towns: £700 to £900.
These are rough estimates for a student in shared accommodation including rent, utilities, food, travel, and social spending.
Building your term budget
Divide your annual loan by three (or your term loan by the number of weeks in term). Then list your fixed costs: rent, any contracted bills, phone contract. Subtract those from your weekly allocation to find your discretionary spending money.
Tip: Set up a separate bank account and move your rent money there the moment the loan lands. What remains in your main account is what you have to live on. This removes the temptation to dip into rent funds in the first weeks.
Supplementing your loan
Many universities offer hardship funds and bursaries that do not need to be repaid. Maintenance grants for lower-income households are also available in Scotland, Wales, and Northern Ireland. Check your university's financial support page in freshers' week, not just before you apply.
Part-time work during term is common. Around 15 hours per week is generally sustainable without significantly affecting academic performance, though this varies by course intensity.