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You can find the current article at its original source at http://www.guardian.co.uk/money/2012/sep/11/what-financial-obligations-rights-university
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| What are your financial obligations and rights at university? | What are your financial obligations and rights at university? |
| (4 months later) | |
| How much will university cost? | How much will university cost? |
| Imtiaz Shamsuddin, LSE | Imtiaz Shamsuddin, LSE |
| Take a deep breath. Most estimates suggest the cost will be between £53,000 and £60,000 if you decide to do a three-year course in England starting this year. That's based on £9,000-a-year tuition fees plus the typical cost of accommodation, food and going out. But now breath out: it's not a case of "pay up or you can't go". The tuition fees are automatically paid by the Student Loans Company, and you won't start repaying a penny until the April after your graduation. As proponents of the new scheme never tire of saying, you won't pay a penny back if you earn under £21,000, and after 30 years any remaining debt is wiped out. | Take a deep breath. Most estimates suggest the cost will be between £53,000 and £60,000 if you decide to do a three-year course in England starting this year. That's based on £9,000-a-year tuition fees plus the typical cost of accommodation, food and going out. But now breath out: it's not a case of "pay up or you can't go". The tuition fees are automatically paid by the Student Loans Company, and you won't start repaying a penny until the April after your graduation. As proponents of the new scheme never tire of saying, you won't pay a penny back if you earn under £21,000, and after 30 years any remaining debt is wiped out. |
| But once you start earning above £21,000, the money will be deducted at source by your employer – so it'll never enter your account. That's why some people like to refer to the new system as a graduate tax rather than a loan. You'll have to pay 9% of everything above £21,000, so if you land a job on £22,000, the repayment will be just £90. Once you earn £30,000, the amount would be £810 a year, or £67.50 a month. But there's interest to pay on the outstanding balance, which is set at RPI plus 3%, so the amount you owe will keep growing in size. | But once you start earning above £21,000, the money will be deducted at source by your employer – so it'll never enter your account. That's why some people like to refer to the new system as a graduate tax rather than a loan. You'll have to pay 9% of everything above £21,000, so if you land a job on £22,000, the repayment will be just £90. Once you earn £30,000, the amount would be £810 a year, or £67.50 a month. But there's interest to pay on the outstanding balance, which is set at RPI plus 3%, so the amount you owe will keep growing in size. |
| How can my flatmates and I avoid rogue estate agents who do not return deposits? | How can my flatmates and I avoid rogue estate agents who do not return deposits? |
| Shirley Reynolds, De Montfort | Shirley Reynolds, De Montfort |
| Laws to protect tenants' deposits have been in place since 2007, but rogue practices still abound. Landlords are legally obliged to keep your deposit money ringfenced in an official tenancy deposit protection scheme (TDPS). If they don't provide you with details of the TDPS and where your money is being kept, they can be ordered to payyou as much as three times the initial deposit. | Laws to protect tenants' deposits have been in place since 2007, but rogue practices still abound. Landlords are legally obliged to keep your deposit money ringfenced in an official tenancy deposit protection scheme (TDPS). If they don't provide you with details of the TDPS and where your money is being kept, they can be ordered to payyou as much as three times the initial deposit. |
| At the end of the tenancy, providing you have paid your rent and left the place in a good, clean condition, your landlord should return your deposit within 10 days of the end of your tenancy. But this is where the disputes begin. There are rules about how much a landlord can deduct, but they are often ignored. Legally, the landlord can make deductions for damage to the property, missing items, cleaning and unpaid rent. But they can't make deductions for normal wear-and-tear or because you did something the landlord didn't approve of, such as holding a noisy party. | At the end of the tenancy, providing you have paid your rent and left the place in a good, clean condition, your landlord should return your deposit within 10 days of the end of your tenancy. But this is where the disputes begin. There are rules about how much a landlord can deduct, but they are often ignored. Legally, the landlord can make deductions for damage to the property, missing items, cleaning and unpaid rent. But they can't make deductions for normal wear-and-tear or because you did something the landlord didn't approve of, such as holding a noisy party. |
| What is reasonable wear-and-tear – and how much you should be charged for cleaning – is at the heart of most disputes. If the carpet wears out, that's not your fault. If you drop a cigarette and burn it, that is your fault. Try to avoid disputes by taking a careful inventory of everything at the outset of the tenancy, taking a video or detailed pictures of every room in the house. The TDPS operates a free dispute-resolution service, in case you can't agree how much deposit should be returned. | What is reasonable wear-and-tear – and how much you should be charged for cleaning – is at the heart of most disputes. If the carpet wears out, that's not your fault. If you drop a cigarette and burn it, that is your fault. Try to avoid disputes by taking a careful inventory of everything at the outset of the tenancy, taking a video or detailed pictures of every room in the house. The TDPS operates a free dispute-resolution service, in case you can't agree how much deposit should be returned. |
| Once I move out of halls, how much should I expect to pay for private accommodation? | Once I move out of halls, how much should I expect to pay for private accommodation? |
| Will Palmer, LSE | Will Palmer, LSE |
| First-year rents are now astonishingly high in halls of residence organised by the universities. But in your second year you should save a packet by switching to cheaper, private accommodation – though don't expect to have an ensuite bathroom. For example, the University of Birmingham will be charging up to £172 a week (£7,225) to first-years in halls of residence (including meals) – so that's your maintenance grant and loan gone already (although it does have rooms starting at £79 a week without meals). In London, the costs are sky-high; Imperial will charge up to £244.94 a week this year. | First-year rents are now astonishingly high in halls of residence organised by the universities. But in your second year you should save a packet by switching to cheaper, private accommodation – though don't expect to have an ensuite bathroom. For example, the University of Birmingham will be charging up to £172 a week (£7,225) to first-years in halls of residence (including meals) – so that's your maintenance grant and loan gone already (although it does have rooms starting at £79 a week without meals). In London, the costs are sky-high; Imperial will charge up to £244.94 a week this year. |
| Second-year students can expect to pay around 50-75% of those prices if they can get together with a group of friends, and rent a house. Private rents in Birmingham start at around £40 a week. See accommodationforstudents.com or gumtree.com for deals. | Second-year students can expect to pay around 50-75% of those prices if they can get together with a group of friends, and rent a house. Private rents in Birmingham start at around £40 a week. See accommodationforstudents.com or gumtree.com for deals. |
| What grants and what sort of help, if any, will I get? | What grants and what sort of help, if any, will I get? |
| Imtiaz Shamsuddin, LSE | Imtiaz Shamsuddin, LSE |
| Student loans are not just to cover tuition fees. You can apply for grants (that you never have to pay back) and loans (which you will) to cover living costs. It's a complicated system, but if your parents earn less than £25,000, you're entitled to the maximum non-repayable maintenance grant of £3,250 a year – plus you can apply for a maintenance loan of up to £3,875. | Student loans are not just to cover tuition fees. You can apply for grants (that you never have to pay back) and loans (which you will) to cover living costs. It's a complicated system, but if your parents earn less than £25,000, you're entitled to the maximum non-repayable maintenance grant of £3,250 a year – plus you can apply for a maintenance loan of up to £3,875. |
| If your parents earn more than £25,000, there's a sliding scale of entitlement – you will receive less grant, but you can apply for more loan. The grant bit runs out once your parents' income is above £42,600, so then you'll have to rely on the maintenance loan (and their generosity). The maximum maintenance loan you can apply for is £4,375 a year if you live at home, rising to £7,675 if you live away from home and study in London. | If your parents earn more than £25,000, there's a sliding scale of entitlement – you will receive less grant, but you can apply for more loan. The grant bit runs out once your parents' income is above £42,600, so then you'll have to rely on the maintenance loan (and their generosity). The maximum maintenance loan you can apply for is £4,375 a year if you live at home, rising to £7,675 if you live away from home and study in London. |
| There are also a range of bursaries and scholarships for the lucky few. You can apply under the National Scholarship Programme, where the minimum award is £3,000 a year. Most universities and colleges give out bursaries that aren't linked to any other student finance you might get. Talk to your student support service to find out what exactly your university or college offers and who qualifies. | There are also a range of bursaries and scholarships for the lucky few. You can apply under the National Scholarship Programme, where the minimum award is £3,000 a year. Most universities and colleges give out bursaries that aren't linked to any other student finance you might get. Talk to your student support service to find out what exactly your university or college offers and who qualifies. |
| My guide to fiscal juggling by Tim Dowling | My guide to fiscal juggling by Tim Dowling |
| Where can you get the cheapest alcohol? Kavita Kalaichelvan, LSE | Where can you get the cheapest alcohol? Kavita Kalaichelvan, LSE |
| Some people reckon it's supermarkets, others discount retailers, others home brewing kits. The truth is, the cheapest alcohol comes from other people: always ask friends to bring booze round when you're having a party, and never bring any when they ask you. The key to success is discipline. | Some people reckon it's supermarkets, others discount retailers, others home brewing kits. The truth is, the cheapest alcohol comes from other people: always ask friends to bring booze round when you're having a party, and never bring any when they ask you. The key to success is discipline. |
| How can I afford tuition, accommodation, bills and food? And then how can I afford to socialise? Tom Fullwood, Nottingham | How can I afford tuition, accommodation, bills and food? And then how can I afford to socialise? Tom Fullwood, Nottingham |
| There's a short answer to your question: you can't. Juggling bills, basic needs and discretionary spending requires what we in the adult world call fiscal irresponsibility. Use your tuition money for accommodation, your rent money for food, and your food money to socialise. If you've got any money left – and if you're doing this right, you shouldn't have – pay half your rent and spend the rest on food. Then put off paying tuition, skip rent and go out drinking. Your eventual aim is to get your parents to bail you out, and for this to happen your situation has to appear hopeless, so don't stint. | There's a short answer to your question: you can't. Juggling bills, basic needs and discretionary spending requires what we in the adult world call fiscal irresponsibility. Use your tuition money for accommodation, your rent money for food, and your food money to socialise. If you've got any money left – and if you're doing this right, you shouldn't have – pay half your rent and spend the rest on food. Then put off paying tuition, skip rent and go out drinking. Your eventual aim is to get your parents to bail you out, and for this to happen your situation has to appear hopeless, so don't stint. |
| I spend about £400 a month – shitloads. How do I budget? Maryam Siddiqui, LSE | I spend about £400 a month – shitloads. How do I budget? Maryam Siddiqui, LSE |
| £400 per month is indeed, as you say, shitloads, but it's not a difficult amount to get through, either. There is no secret to budgeting, I'm afraid. It's a simple matter of keeping track. Record every purchase you make over the course of a month. This exercise in itself may cause you to spend less – profligacy, starkly laid out, is quite shaming – but it will also give an idea where economies can and can't be made. For example, don't waste money on cons like "nail polish remover". Nail polish comes off all by itself, eventually. | £400 per month is indeed, as you say, shitloads, but it's not a difficult amount to get through, either. There is no secret to budgeting, I'm afraid. It's a simple matter of keeping track. Record every purchase you make over the course of a month. This exercise in itself may cause you to spend less – profligacy, starkly laid out, is quite shaming – but it will also give an idea where economies can and can't be made. For example, don't waste money on cons like "nail polish remover". Nail polish comes off all by itself, eventually. |
| What books on the reading list do I actually have to buy? Joe Anderson, LSE | What books on the reading list do I actually have to buy? Joe Anderson, LSE |
| Fortunately, you only have to buy the books you're actually going to read. Nothing is more galling that having an expensive, unopened economics text depreciating on your shelf. You might think it would be hard to judge what you will and won't read at the start of term, but you can often guess from its title whether a particular book is going to be your cup of tea or not. | Fortunately, you only have to buy the books you're actually going to read. Nothing is more galling that having an expensive, unopened economics text depreciating on your shelf. You might think it would be hard to judge what you will and won't read at the start of term, but you can often guess from its title whether a particular book is going to be your cup of tea or not. |
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