Unite Students Installments
I am looking into moving to a Unite Students accommodation, Stratford One specifically, but I am really put off that the most Installments is seven :/
Does anyone know if they would be willing to accept monthly payments instead because that seven month instalment plan is not financially viable.
I did the maths.
The full price is £15,905.43 for the full year (September-September) which whilst pricey, for London it really isn’t that much more (or in fact less) than a lot of places. It being walking distance from where I work and go uni is also a massive plus for me. So the price is not an issue, I get the full student maintenance loan of £14,135 so I only have to pay a little bit of my own money which I already have saved up.
The problem I have is between October-April is when they want ALL the rent to be paid. So June, July, August, and September I pay zero rent. So all those months where I am earning money will not be going towards the rent because there is no rent to be paid. In fact, in April, they only want £1,590.54 as opposed to £2,385.84 the previous months. The reason this is a big deal is because of the £14,135 a third of that is paid in April. So I’d be paid £4,711.66 and after paying rent I’d be left with £3,121.12 of my money that is supposed to be going towards things like rent.
If we forget April. So we forget the £4,711.66 in maintenance loan, and we forget the £1,590.54 rent. That means of the £14,314.89 between October to March, I’ll only have £9,423.33 maintenance loan (the two Installments in September and January). So I’d have to cough up £4,891.56 of my own money.
Let’s not forget that Christmas exists, and then January and February (and sometimes March) is not great for students like myself who rely on overtime work.
If it was monthly, the payments would only be £1,324.45 which is so much more affordable!
It’s not that I am unwilling to pay. Far from it. I would love to pay and live there, but doing the maths, I can tell it is financial insanity as that entire time I will be juggling work and university.