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The Maintenance Loan arrives in lumps, but rent, food and phone bills come out in small amounts all term. A budget that connects the two does more for the first year than a perfect room does. This page covers a term budget built on the loan, then a short room checklist for the things most often forgotten.
How the loan is paid
GOV.UK says the Maintenance Loan is paid directly into your bank account at the start of each term, and that you have to pay it back. The maximum for students from England in 2026/27 depends on where you live while you study: up to £9,118 living with your parents, up to £10,830 living away from your parents outside London, and up to £14,135 living away in London. How much you receive depends on where you study and your household income, so use the figure on your own award notice.
You are charged interest from the day you take the loan out, according to GOV.UK, but you do not repay while you study. The earliest you start repaying is the April after you leave your course, and the size of your repayments depends on what you earn, not on what you owe. The guide sets out the rates and the thresholds article covers 2026/27.
A term budget in four steps
Say you are living away from home outside London and receive the maximum, £10,830. Split into three equal terms, that is £3,610 each. The real split can differ, so replace the figure with the amounts on your award notice.
- Put rent first. Look at your tenancy or halls agreement for the dates and amounts that are due. Say the rent is £1,800 a term, which is an invented figure for the example. That leaves £1,810.
- Add the other fixed costs. Phone, any bills not covered by the rent, a travel pass, society or gym memberships. Take the amounts from receipts or contracts, not guesses. Say these come to £250 a term, another invented figure, which leaves £1,560.
- Divide what is left by the weeks until the next payment. Say there are 13 weeks until the next payment. £1,560 divided by 13 is £120 a week for food, transport, course materials and everything else.
- Track a few weeks. Write down what you spend for three weeks before deciding whether the weekly figure is realistic.
Check how many weeks each payment has to cover. If rent and bills run through the holidays, treat the weekly figure as a ceiling rather than a target.
Check the dates of your rent payments against the dates the loan arrives. If rent is due before the payment lands, plan for it in the preceding weeks.
A Ad monthly budget planner is enough for this. Some students prefer a spreadsheet, and either works if you update it weekly.
Extra help that does not need paying back
GOV.UK lists non-repayable help for some students, including the Childcare Grant, Parents' Learning Allowance, Disabled Students' Allowance, NHS and social work bursaries, and extra money from your university or college, such as a bursary, scholarship or hardship fund. Eligibility depends on your course and circumstances, so check the page and ask the university's student finance team before assuming you qualify.
The room checklist
Check what the room comes with before you buy anything: the bed size, the desk, the wardrobe, any shelves. A plan that fits the room beats a haul that will not.
Sleeping
The mattress size is stated in the accommodation details. Check the inventory for what is supplied, because duvets and pillows vary by provider. A Ad bedding set in the right size covers the basics. A Ad mattress protector is worth adding if the mattress is not new.
Power and light
A Ad desk lamp with an adjustable arm is more useful than an overhead light for evening study. For sockets, an Ad extension lead with individual switches and a long cable lets you put the desk where it works, instead of where the socket is. Check your accommodation's rules, because some providers restrict extension leads, and follow what they say.
Storage
Student rooms are small, and floor space goes first. Ad Under-bed storage boxes hold out-of-season clothes and bulky items. Over-door hooks, a laundry bag and a small bin are cheap additions.
Drying clothes
Many halls have a shared laundry and not much drying space. A Ad folding clothes airer gets used more than expected. Check that the room has the space and that the rules allow drying clothes indoors.
Paperwork
Keep the tenancy or halls contract, the student finance award notice, and any emails about rent in one place. Ad A document folder with dividers does the job, and it makes a clear label for you and a clear place for anyone helping you with forms.
Money habits for the first month
The first month is when the loan balance is highest and the spending is least predictable. A few habits keep it in check.
- Pay the rent and any other fixed bills as soon as the loan arrives, so the money is not available to spend.
- Move your weekly allowance, such as the £120 in the example, into a separate pot or a second account, and spend from that.
- Look at your bank balance once a week on the same day.
- Keep receipts for course materials, in case you apply to a hardship fund and are asked for them.
None of this is a requirement. It is a way of seeing the weekly figure before it has gone.
What to leave until you arrive
- Posters, plants and decorations, which can wait until you know what the room needs.
- Cleaning products, until you know what the shared areas already have.
- Anything bulky that housemates may already own. See the kitchen article for the shared kit.
Next year and beyond
Repayments do not start until after you leave the course, but the amount you borrow each year builds the balance. The repayment calculator shows what a given salary repays each month on your plan, and the postgraduate loan article covers the separate Master's loan if you go on to one.