Moving to university is a big step and for a lot of people, it is a taste of independence as you live away from family – probably for the first time. However, this also means a lot of responsibility as you have to choose where to live and balance your finances.

While there is student finance to help, paying for student accommodation is a big financial undertaking and needs a lot of consideration. Beyond just how much you pay in rent, there are other factors to grapple with. If this all seems overwhelming, that’s totally normal and where we come in – this guide goes through what you need to know about paying for student accommodation and how to make the right choice.

students around a table in a communal area chatting

What Is The Cost Of Student Accommodation?

The overall cost of student housing greatly depends on the location of the university itself. The cost of living varies throughout the country and this is reflected in university housing costs.

Room type is another factor to consider. Some accommodations may offer shared bathrooms and basic facilities, which will drive the cost down. Others, such as luxury en-suite studios, have a wider range of features and offer greater living standards and the price reflects this. You also have to consider utility bills such as energy, water, and Wi-Fi, which are often separate from the rental cost. If you stay somewhere like urbanest, the utility bills are all included, which makes things easier as you know your overall living costs upfront. All this information should be readily available from individual universities and accommodation providers, so make sure you understand the full living costs.

How Much Is The Average Student Accommodation?

The average UK student rent cost (outside of London) is around £640 per month, with roughly a third of all students expected to pay for their utility bills separately from their rent expenditure. Identifying how much money you’ll need per month to live comfortably as a student is among the biggest challenges for new uni-goers. As accommodation accounts for a substantial chunk of your monthly outlay, get your room nailed down before building a budget around it.

How Many Weeks Do You Pay For Student Accommodation?

Student accommodation contract dates are typically around 40 weeks or 51 weeks in uni halls, sometimes cutting off during the summer holidays. While private accommodation contracts are usually longer, for example, at urbanest you get 51 weeks. You do still have to pay for your accommodation during half term or Christmas holidays, regardless of whether it is unoccupied or not during this time.

Some student housing has summer accommodation options, so if you know you will need this, check the availability when choosing accommodation.

Do Tuition Fees Include Accommodation?

Tuition fees, as the name suggests, are solely for your studies. It covers the cost of the course you’re taking, including contact time with lecturers, admin feeds, support services and student union membership. Tuition fees do not cover accommodation or other living costs such as travel and bills. For other costs, including accommodation, UK students will be eligible for a maintenance loan.

What Is the Minimum Student Maintenance Loan?

Maintenance loans are a crucial segment of your student loan designed to cover the costs of living such as bills, rent and food (as well as the occasional night out). In fact, a survey by Save The Student found maintenance loans to be the primary source of income for the vast majority of students.

As of 2022/23, the minimum maintenance loan is £3,597, which is offered to UK students who come from households with an income of £58,000 or more. The maximum is £12,667, which can be paid to students from low-income households and other factors.

How Much Maintenance Loan Will I Get?

Maintenance loan comes down to 3 key factors:

  • where you’re from
  • where you’ll be living
  • overall income of your household.

The average student receives around £5,600 a year in maintenance loans according to Save The Student. However, with rising living costs, you may need to take further steps to ensure that you can afford to move out to uni. You can use the UK Government’s student finance calculator to get an estimate of how much funding you could receive.

towers of coins and graduation copy referencing student finance

Can I Get Other Financial Help With Student Accommodation?

If you’re struggling to cover the costs of student accommodation, there are additional sources of financial help for those in higher education, namely grants and bursaries. While many are geared towards educational costs and equipment, you may be eligible for a maintenance or special support grant to aid with housing costs.

If you’re in a particularly tight spot, university and college hardship funds and schemes are also provided by many institutions. Depending on individual situations and criteria, certain student benefits, such as universal credit or education maintenance allowance, may be up for grabs. Organisations that assist with financial queries and issues for students, like the National Association of Student Money Advisers or local Citizens Advice charities, are on hand with free support and information about your entitled help.

When Do You Pay For Student Accommodation?

Payment dates for student accommodations can vary, and it is important to pinpoint exactly when you’ll be expected to pay before building a student budget. Some student housing payments may be collected annually or per term. To tally up with student loan start dates, rental fees for private uni halls typically kick-off at the beginning of term, although concurrent payment dates will depend on the terms set out by the university or the landlord.

Do You Need A Guarantor For Student Accommodation?

Most housing, particularly private student accommodation, requires a UK-based guarantor. As students are unlikely to have a lengthy renting history, or substantial amassed credit history, private housing providers look to cover their property against any potential damage. For overseas students or those who cannot secure a guarantor, some universities may deploy a rent guarantor scheme, where they act as guarantor to help get you set up.

There are various criteria for prospective guarantors for student accommodation to meet, with the most important relating to income. As they will shoulder the responsibility for issues such as property damage or unpaid bills, they are roundly expected to prove they have significant incomings to meet this commitment.

Does Student Accommodation Require A Tenancy Deposit?

Student tenancy deposits are often required when staying in private housing, much for the same reasons as guarantors. Since 2007, the Tenancy Deposit Scheme (TDS) has ensured students aren’t getting short-changed on their deposits. Tenancy deposit protection safeguards students’ rights when renting private accommodation and makes sure any deductions or challenges are done legally and correctly. Should a landlord breach the terms of this scheme, students would be entitled to compensation of up to three times the original deposit fee.

Like most private student halls, urbanest does not require a deposit. Instead, you are required to pay an upfront payment which is the value of your first rental instalment and kicks off your payments. If you are looking elsewhere and required to pay a deposit, it’s recommended to ensure this is covered by the TDS.

Learn more about choosing safe accommodation and what to look out for in private renting. This guide will help you understand what to look out for when choosing student accommodation and also what to do to keep yourself safe when renting.

There’s quite a lot to consider when paying for your student accommodation. If you’re interested in urbanest specifics, do be sure to check out our frequently asked questions or get in touch with us via the chat box in the bottom corner of this page.