London is a huge draw for students from all over the UK, looking to study in the capital. For many young people, moving from their hometown to London is a rite of passage. That being said, the capital of the UK is one of the most expensive places in the UK to live and study as a student.

 

You’ll need money to cover your rent and living costs, in addition to money for your fees. But how much, on average, will you need in order to be able to rent in London? 

Read on for our guide to renting in London, and have all of your questions answered.

If you are a UK student, you will more than likely have a student loan to cover the cost of your fees. In this case, you will not need to come up with any additional money to cover the cost of your course. This means that you will not have to worry about covering the cost of a large part of your studies. 

You will generally only need to come up with the money for your rent and living costs.

Image if London skyscape on article student renting in london

Most UK students are eligible to receive an additional maintenance loan each year. This loan is to help you with living costs and rent. The tricky thing about the maintenance loan is that is it partly means-tested. This means that the amount that you are likely to receive depends on the financial situation of your parents or carers. 

Everyone will receive at least something from their maintenance loan, so you shouldn’t worry about it too much. If you are living away from home, in London, the maximum maintenance loan you can get is currently £11,672.

Average weekly rents for students living in the capital are generally higher than the rest of the UK. Currently the average rent in shared accommodation is £182. However, this all comes down to the type of room, and, crucially in London, the location. 

Whilst it can be daunting thinking about the cost of living and studying in London, the benefits may outweigh the costs in the long run. A degree from a London university could take you far in life. The costs of obtaining such a degree could be far outweighed by your total earnings! 

Looking for student accommodation in London? Be sure to check out our website.

Image of tower bridge and dolphin statue on student renting in london

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