![]() Going into the crisis, many Londoners were disproportionately experiencing challenges of poverty and inequality. The purpose of the Calculator is to provide a better understanding of what gross pay in London actually buys once all essential spend has been considered. To help overcome this, we have developed a new Cost of Living Calculator to provide deeper insight into the lived experience of rising prices to help local authorities, civil society, and private sector actors to model the cost of living crisis in their communities. We have been increasingly frustrated that analysis on the cost of living crisis in London can make sweeping judgements on the basis of median household earnings, without taking into account the diverse factors that will influence Londoners’ abilities to get by and prevent them and the city from thriving. We have been working as part of the London 3.0 initiative to think about the nature of poverty in London and the extent to which London can (and should) aspire to be an equitable city. Use the student finance calculator to get an estimate on the amount of Maintenance Loan available to you based on your specific circumstances.Alongside the climate emergency, inequality and poverty will be the most significant and defining challenges for London over the coming months and years. There are different rates for students living in London and for other circumstances such as if there are other students living in your household, you’re in your final year of your studies or if you receive benefits. £4,524 (only eligible for minimum amount) Student living away from home, outside London Household Income £3,597 (only eligible for minimum amount) The tables below show some examples of what the difference is between the maximum Maintenance Loan and the amount you could get based on your household income. Students with a household income above £25,000 would get a lower amount of loan based on their household income. If you apply for student finance based on your household income then you may be entitled to even more Maintenance Loan to help with your living costs.įor example, full-time undergraduate students with a household income of £25,000 or less would get the maximum additional Maintenance Loan. What you could get as a maximum in the 2022 to 2023 academic year Most students can get a higher amount of Maintenance Loan by providing details of their household income. The minimum amount you can get is: Living arrangements All eligible students qualify for a non-income assessed minimum amount of Maintenance Loan to help with these costs. ![]() Student Finance England (SFE) provide a Maintenance Loan to help you with your living costs. What you could get as a minimum in the 2022 to 2023 academic year To find out what’s available in the 2023 to 2024 academic year check out our dedicated page. Utilities – such as gas and electricity billsįind out in the sections below what Student Finance you could get as a minimum and maximum in the 2022 to 2023 academic year. If you’re unsure about what additional costs may be involved as a result of your studies, you should ask your university or college for more information. Why not check out their guidance on how to create a budget to find out what your living costs at university or college might add up to? ![]() ![]() Student Space offer advice and support to all, including information on where to find extra funding to help with your living costs and budgeting tools. Students studying at university or college can have different living costs depending on where and what they will be studying, their lifestyle and any financial commitments they might have. ![]()
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