Thread: Living costs and student finance - How are mature students supposed to make ends meet?

Summary
The level of student finance which appears to be available to mature students simply does not appear to cover even the most basic costs of living.

What are mature students expected to do in order to pay the bills?

Please, read on...

Background
I am 25 years old and have been practising as an Accountant since I left school immediately after A-Levels at the age of 18. I have decided to return to University to study a fast-track (2 year) degree in Law, hopefully followed by the Bar Vocational Course or Legal Practice Course, in order to change direction in my career.

The money
Financing
From my initial investigations I have determined that the following sources of finance are available to me as an independent mature student entering university for the first time:

Maintenance loan of £ 3,564
Fee loan of up to £ 3,225
Maintenance Grant of £ 2,906
Total £ 9,695

But... for the purposes of my day-to-day finances, I must exclude the fee loan from my calculations, as I understand this will be paid directly to the university which provides my tuition. So in reality, the money which will be available to me to fund my living expenses is as follows:

Maintenance loan of £ 3,564
Maintenance Grant of £ 2,906
Annual total £ 6,780

Costs of living
I have calculated my expected monthly cost of living as follows:

Food 150
Internet 25
mobile phone 10
Electricit 15
Water 15
Council tax 0
home insurance 20
Socialising 65
Rent 450

Total 750

Annual total £ 9,000

£9,000 vs £6,780

My problem
Comparing my most reasonably expected living costs of £9,000 to the funding available of £6,780, there is an immediate problem staring me in the face.

I don't know how to reconcile or workaround this problem, and I would greatly appreciate your help.

What is a mature student supposed to do?

The books simply don't appear to balance!

I went to university to do a 3 year law degree, I was on my own and had a mortgage and bills my ex partner had left me with I had my student loan and managed to recieve about 500.00 per yaer extra funding from the hardship fund at uni, I also did 3 part time jobs. I managed to complete my degree and support myself although I still have about 12,000 of student loan to repay. One type of part time job that fits in well with uni is market research, its well paid and when you need A,B and C1 calsses to interview its usful as all students are classed as C1. All I can say is if you really want to do it it is possible but dont expect the state to support you.

I would think the same problems face ordinary students as well not just mature ones, thats why they have to take part time jobs, and still end up in debt at the end of their course.:? But after seven years practice you should be able to balance the books.