The short answer
- Start with your income for the year: maintenance loan, grants, family help and any job.
- Take off rent first. It is usually the biggest cost and is often paid for 44 to 51 weeks.
- Divide what is left by the weeks it must last, usually 39 weeks of term, to get a weekly budget.
- The full loan of £10,830 away from home outside London rarely covers rent and living costs on its own.
Your income for the year
Add up everything you will have for the academic year:
- Maintenance loan: from Student Finance England, SAAS, Student Finance Wales or Student Finance NI. See the maintenance loan calculator.
- Grants and bursaries: from your university, the Welsh Learning Grant or a SAAS bursary. These are not repaid.
- Family help: if your household income is over £25,000 in England, your loan is reduced on the assumption your parents help.
- Earnings: from a part-time or holiday job.
Rent: the biggest cost
Rent usually takes more than half of a student’s income. The weekly price is only half the story: what matters is how many weeks you pay for. Halls contracts often run for 40 to 44 weeks, while private houses often run for 50 or 52, including summer.
| Weekly rent | 40 weeks | 44 weeks | 51 weeks |
|---|---|---|---|
| £140 | £5,600 | £6,160 | £7,140 |
| £170 | £6,800 | £7,480 | £8,670 |
| £200 | £8,000 | £8,800 | £10,200 |
| £250 | £10,000 | £11,000 | £12,750 |
Check whether bills are included. If not, add energy, water and broadband to your weekly costs.
Weekly living costs
The calculator splits weekly spending into food, travel, phone and subscriptions, going out and other costs. A starting point many students use is £50 for food, £15 for travel, £10 for phone and streaming, £30 for going out and £10 for everything else: £115 a week. Your own figures will differ; look at a month of bank statements if you have them.
Worked examples
- Maintenance loan£10,830
- Rent: £170 × 44 weeks− £7,480
- Living costs: £115 × 39 weeks− £4,485
- Course costs− £300
- Earnings: 10 × £12.71 × 30+ £3,813
- Shortfall without the job− £1,435
When the money arrives
- Start of term 1 (September or October)First loan payment
About a third of the year's loan.
- JanuarySecond payment
Has to cover the spring term.
- AprilThird payment
Often has to last until the autumn.
Rent is often due in the same three instalments, so check that each loan payment covers that term’s rent before you spend the rest. In Scotland, SAAS pays monthly, which makes budgeting easier.
Working while you study
Many universities suggest no more than 15 hours of paid work a week during term. From April 2026 the minimum wage is £12.71 an hour at 21 or over and £10.85 at 18 to 20. Ten hours a week at £12.71 over 30 weeks adds £3,813 to your year. Most students earn less than the £12,570 Personal Allowance, so pay no Income Tax; check your tax code is not emergency tax. Earnings do not reduce your student loan.
If your budget does not balance
- Check you are getting everything: the full loan for your household income and any university bursary.
- Look at rent first: a cheaper room or a shorter contract can save more than any other change.
- Cut the flexible weekly costs: food, going out and subscriptions.
- Add earnings: a holiday job can cover a gap without affecting term-time study.
- Talk to your university’s money advice team before the money runs out, not after.
Ways to spend less
- Cook in bulk with housemates and take lunch to campus.
- Get a 16-25 Railcard or a student bus pass if you travel often.
- Use student discounts and buy second-hand textbooks; check the library first.
- Cancel subscriptions you do not use and share streaming plans where allowed.
- Pay for a TV Licence only if you watch live TV or BBC iPlayer.
Student bank accounts and overdrafts
- Cost
- Free while you study, up to the limit
- Risk
- Must be repaid after graduating
- Cost
- Interest and fees if not cleared
- Risk
- Debt can grow quickly
An interest-free overdraft is a useful safety net, but treat it as an emergency fund, not part of your weekly budget.
Council tax and other bills
A home where everyone is a full-time student does not pay council tax; you may need to send your council a student certificate. If you live with someone who is not a student, the household may get a discount instead. See the student council tax calculator. Split energy, water and broadband fairly with housemates and set up a shared account or app for bills.
Hardship funds and help
Most universities have hardship funds and short-term loans for students who run short, and extra help for care leavers, estranged students and students with children. Students with children may get a Childcare Grant and Parents’ Learning Allowance, and disabled students can get Disabled Students’ Allowance. Talk to your students’ union or student money advice service.
Keeping on track
Once you have a weekly figure, move it each week from a savings account into your current account, or use your bank’s spending pots. Check your balance at the same time every week, and re-run this calculator at the start of each term with what you actually spent.
Plan for the summer
If your contract runs over summer, put money aside each term so the last loan payment is not the only money you have between April and September.
The first weeks of term
The first weeks are usually the most expensive of the year. Many students buy kitchen equipment, bedding, books and a railcard, pay for freshers’ events and society memberships, and eat out more while they settle in. Set aside a starting fund of £200 to £400 for these one-off costs, separate from your weekly budget, so they do not eat into the money that has to last the term.
Students from Scotland, Wales and Northern Ireland
Scottish students get monthly SAAS payments and a bursary of up to £2,000; Welsh students get a Learning Grant of at least £1,020 that is not repaid. Use the SAAS calculator or the Welsh student finance calculator to find your income, then enter it here.
Spending less on food
After rent, food is usually the biggest weekly cost and the easiest to cut. Plan meals for the week before you shop, cook larger batches and freeze portions, and buy supermarket own-brand staples. Shopping later in the day for reduced items, using loyalty schemes and splitting bulk buys such as rice, pasta and oil with housemates all help. Eating out and takeaways can easily double a food budget, so count them under going out rather than food.
Travel and getting home
If your university is in a city, a student bus pass or a monthly ticket is often cheaper than paying each day. Cycling is cheaper still. For trips home, a 16-25 Railcard takes a third off most rail fares and pays for itself in one or two journeys; coach travel is cheaper but slower. Budget for travel home at the end of each term and over the holidays, as fares at busy times can be high.
Tools that help
Most banking apps let you set up savings pots, round up purchases and see spending by category. Use them to keep each term’s rent separate from day-to-day money. Some students set up a standing order from a savings account into their current account each week, equal to their weekly budget, so they cannot accidentally spend next month’s money. If you share a house, a bill-splitting app avoids awkward conversations about who owes what.
Key numbers
| Item | Amount |
|---|---|
| Maintenance loan away from home (most, England) | £10,830 |
| Maintenance loan in London (most, England) | £14,135 |
| Maintenance loan at home (most, England) | £9,118 |
| Minimum wage, 21 or over | £12.71 an hour |
| Minimum wage, 18 to 20 | £10.85 an hour |
| Personal Allowance | £12,570 |