The maintenance loan looks generous on paper. Then rent, bills, food, and a £14 cinema ticket happen. Find out exactly how many weeks your loan covers, and what to do when it runs out before term ends.
For most students in 2025/26, the maintenance loan falls significantly short of real living costs, particularly in London and other expensive university cities. The maximum loan for students living away from home outside London is £10,544 per year, which works out at around £878 per month over 12 months, or just over £351 per week during a 30 week term. With average student rents running at £500 to £850 per month, the loan often covers rent and little else.
This depends entirely on your loan amount and city. A student in Sheffield with a maximum loan and low rent might just about break even. A student in London with a lower loan based on parental income may run out of money halfway through term. This calculator gives you a personalised figure based on your actual numbers, so you can plan your shortfall before it happens rather than after.
If this calculator shows your loan will not last the term, there are several options: apply for a hardship fund through your university, look for part time work (up to 15 to 20 hours per week is manageable for most students), appeal your maintenance loan if your parents' income has changed, or look at budgeting apps to track and cut spending. Many universities also offer emergency bursaries for students who hit a financial crisis mid term, and these are non repayable. Always speak to your university's student services before assuming there are no options.
The UK maintenance loan is means tested based on household income (your parents' combined income for most under 25s, or your own if you are independent). The maximum loan amounts in 2025/26 are £10,544 outside London, £13,762 in London, and £8,877 living at home. As household income rises above £25,000, the loan amount tapers down. At household income of around £62,343 outside London, the loan drops to the minimum (around £4,915). This means students from middle income families often get less than half the maximum.
Maintenance loans are paid in three instalments, aligned with terms (typically late September, early January, and mid April). The amounts are not equal, the autumn instalment is usually largest and the summer one smallest, which catches many new students out. The first payment lands a few days after you register at university, so the few days before that often need to be covered from savings or family help. Students who run out before term ends most commonly do so in summer term because the smaller instalment combined with continuing rent creates a squeeze.
You only repay 9 percent of any earnings above your plan threshold. For Plan 5 (graduates from 2023 onwards), the threshold is £25,000. So on a £30,000 salary, you repay 9 percent of £5,000, which is £450 per year or £37.50 per month. Plan 5 lasts 40 years before being written off, longer than older plans. For Plan 2 (graduates from 2012-2023), the threshold is £28,470 and the loan writes off after 30 years. Most graduates never fully repay the loan, especially under Plan 2, so the practical effect is more like an income based graduate tax than a traditional loan.