Student Budget Calculator

A student budget calculator helps you plan whether your income (maintenance loan, part-time work, family contributions) will cover typical university expenses. Key cost categories include accommodation (the largest expense at £4,000–£9,000 per year), food (£2,000–£3,000), transport, course materials, socialising and personal spending.

This calculator uses average UK student spending data to show how your income compares to expected costs. It flags any shortfall and suggests areas where spending can be adjusted. Accommodation costs vary hugely by city — London averages 40–60% more than cities in the North or Midlands.

Enter your income sources and the calculator provides a realistic monthly and annual budget breakdown. If there is a gap, it shows how much you would need to earn from part-time work. Most universities recommend no more than 15–20 hours of paid work per week during term time to avoid impacting studies.

UK student living costs 2025/26. Maintenance Loan max (England, 2025/26): London £13,762; outside London £10,544; living at home £8,877. Term-time only — no funding for vacation periods. Typical breakdown: rent £450-£900/month (£4,500-£9,000/year, 9-month tenancy); food £180-£250/month; bills £80-£150/month; transport £40-£100/month; books/equipment £200-£400/year; social/clothing £100-£200/month. Total: £750-£1,200/month or £6,750-£10,800 per term-time year.

Student loan repayments. Plan 5 (post-Sept 2023 starters): repay 9% of income above £25,000/year, written off after 40 years. Plan 2 (2012-2022): 9% above £27,295. Plan 1 (pre-2012): 9% above £24,990. Plan 4 (Scottish): 9% above £31,395. Interest: Plan 5 RPI only (no plus); Plan 2 RPI + up to 3%. Sample: £35,000 salary on Plan 5 = repay 9% × (£35,000 − £25,000) = £900/year (£75/month). Repayment via PAYE automatic for employees. Self-employed: declare via Self Assessment.

Student grants and bursaries. Maintenance Grant abolished 2016 (England) — replaced with larger loans. Some retained: NHS Bursary (medical, dental, nursing students): up to £4,000/year. Scotland: Young Students' Bursary up to £8,100 (means-tested). Wales: Welsh Government Learning Grant. Northern Ireland: Maintenance Grant up to £3,475. Hardship Funds: each university has discretionary support — apply if struggling. Disability Allowance: up to £25,000/year for equipment and support if disabled. Care leavers: separate package up to £14,000.

Best UK student bank accounts 2026. Sample features: HSBC student: £3,000 interest-free overdraft year 1, rising to £3,000 year 3 (plus Tesco voucher). Santander 123 student: £1,500 overdraft year 1, £1,800 year 2, £2,000 year 3; railcard included. Halifax student: £1,500 overdraft, £100 cash offer. NatWest/RBS student: £1,000-£2,000 overdraft, £80 cash offer + free Tastecard. Choose by: overdraft limit needed, switching incentives, branch network. NEVER use full overdraft — use as emergency buffer.

Earning during studies. Term-time work: max 20 hours/week recommended (most international student visa restrictions). Best paid: tutoring (£25-£60/hour), bar work (£10-£15/hour + tips), retail Christmas (£11-£14/hour). University jobs: student ambassador, library work — usually flexible around studies. Summer: full-time work May-September can earn £4,000-£8,000. Internships: £18,000-£35,000 pro-rata for finance/tech sectors — also good for CV. Personal Allowance £12,570 — most students pay no income tax.