Managing student finances starts with knowing what will actually arrive in your account and what it must cover. Check your funding award, protect rent and everyday essentials, then divide the rest across the time until your next payment. If the numbers do not balance, ask for help early rather than trying to hide the gap.
How much living-cost support could you get in 2026/27?
Funding depends on your eligibility and the scheme that supports you, not simply the country where your university is located. These figures are for the 2026/27 academic year and eligible full-time undergraduate living-cost support. Tuition support is separate and is not spending money for rent or food.
| Funding scheme — 2026/27 | Living with parents | Away, outside London | Away, in London |
|---|---|---|---|
| England — Maintenance Loan maximum | £9,118 | £10,830 | £14,135 |
| Wales — illustrative total of loan and grant | £10,685 | £12,590 | £15,720 |
| Northern Ireland — Maintenance Loan maximum where household income is provided | £6,471 | £8,352 | £11,699 |
Scotland, 2026/27: the Scottish Parliament’s SPICe briefing reports a loan of up to £9,400 for eligible young students, with bursaries of £500–£2,000 for household incomes below £34,000. For independent students, it reports a loan of up to £10,400 and a £1,000 bursary for incomes of £20,999 or less. Awards depend on assessment: do not add separate maximums together and assume that is your entitlement. The £2,400 Special Support Loan is already included in the overall loan, not an extra amount to add again. Check your award with SAAS.
These are different schemes, not like-for-like offers or guaranteed awards. Check the England guidance, Student Finance Wales or Student Finance NI for your circumstances. The Wales totals include a grant that normally does not need repaying; the loan/grant split depends on income. NI final-year Maintenance Loans are lower. Your course, eligibility and personal circumstances can change your award.
For England, GOV.UK flags different arrangements for courses starting on or after 1 January 2027. Check the current guidance for your course start date rather than assuming this table applies.
When is student finance paid?
For the England and Wales schemes linked above, maintenance support is usually paid at the start of each term after the relevant requirements are met. Do not assume the same schedule for every UK scheme. Check your own award and payment dates with your funding body, including SAAS or Student Finance NI where applicable.
Check that enrolment and any requested evidence are complete. If a payment may be late, contact the funding body and your university money team before a bill becomes overdue.
How do you build a term budget?
Write down confirmed income, payment dates and the costs due before the next payment. Set aside rent, bills, food, course costs and essential travel first. Divide the remainder by the weeks it needs to last, leaving room for unexpected costs if possible.
Allow for holidays and summer commitments too: the end of teaching does not necessarily end your rent. Review the plan when your circumstances change. Our student money-saving guide can help with everyday spending.
What about rent and Council Tax?
Read the whole housing agreement and check what bills are included. Our house-hunting checklist covers questions to ask before signing.
Where Council Tax applies, households entirely made up of qualifying full-time students are exempt. Apply if needed and check mixed-household arrangements. This is not guidance on Northern Ireland’s separate local rating arrangements; ask your university about those.
Can part-time work or borrowing fill a gap?
Work can help, but plan around your course, placements and any conditions that apply to you. Budget using reliable pay rather than shifts you hope to get.
An overdraft is borrowing, even if it is interest-free within an agreed limit. Check the authorised limit, charges, eligibility and what happens after graduation. Compare the total cost of any credit, not just the monthly payment, and do not use new borrowing to cover an ongoing shortfall without advice.
When do student loan repayments start?
Your repayment plan and when you become due to repay matter. For those on Plan 5, the current annual income threshold is £25,000, with repayments of 9% of income above the relevant threshold. Weekly and monthly thresholds apply through payroll, so deductions can happen in a higher-paid period. This is not a rule for every UK borrower: check your own plan.
Where can you get money help?
Contact your university money adviser or students’ union about budgeting, hardship support, bursaries and any funding you may have missed. Support funds have eligibility rules and are not guaranteed. If essentials are already unaffordable, say so clearly: you do not need to wait until your account is empty.
Last checked: 6 November 2026.