Student monthly expenses – Student loan
Starting studies is the first and most serious step in adult life – all the more so if young people decide to go to a larger city. Being away from parents, who have probably cared for finances so far and did everything for their children, is a big challenge. Show reason and responsibility. So how do you survive a month not to clear your student account to zero? Do you need to take a cash loan to arrange yourself comfortably in a new city?
You have several options, e.g. you can:
1. look for occasional work,
2. apply for a scholarship,
3. take advantage of the student loan or the said cash loan.
Why should you think about a source of extra cash? The cost of living in college is really gigantic and can surprise many “beginners”. Check the budget you need to spend on housing, daily expenses, pleasures, and health. The cost of studies was not included in the calculation – we, therefore, assume that students are going to full-time studies.
How much is the student flat?
The cheapest way to find a place is to live in a dorm. A place in a double, triple or quadruple room costs from about USD 300 up. You can also opt for an independent room, but its price in the capital will be up to USD 670 – these costs do not include other expenses, such as rent, electricity, utilities.
However, not everyone wants to share their own angle with friends from the university. You can choose to rent an apartment with friends and occupy a separate room. For this solution in Warsaw you will have to pay approx. USD 1,100 + utilities. In smaller cities, an independent room will even amount to USD 600.
Those who can not imagine living with another person or couples who want to live independently, usually decide on a studio apartment. If you plan to rent an apartment, you must take into account the monthly expense for rent of USD 2,000 (Warsaw). Students in Łódź will pay about 1 500 USD and in Krakow about 1 800 USD.
How much does it cost to keep a student in a big city?
You will have to spend the most monthly savings on food. Of course, if you have time, abilities and like to cook at home alone, you will spend about USD 500 a month on food. Of course, you can bring jars from mom to save as much cash as possible. More lazy or wasteful students will choose to eat out.
Dairy bars, bistros and university canteens offer lunches for around USD 12, which will amount to USD 240 per month (including weekends, add USD 120). A warm meal at lunchtime is not everything – snacks, breakfasts and dinners are also worth considering, and I will give us an additional 10 USD per day, or … about 300 USD per month.
Do not forget about transport costs, which are similar in individual academic cities. Students most often use public transport, so they buy a city card – for a month, three months or the whole semester (which is usually a bit cheaper). The student discount is 50%.
Add to this the prices of transport to your hometown – fortunately, today you can get home not only by train.
Do you need a different offer?
Amount of credit Repayment Period
The actual Annual Interest Rate (APRC) for the cash loan offer is 9.58%. Contract duration: 45 years, total loan amount: USD 20,000.00. Total cost of the liability paid in equal (annuit) installments: USD 3,718.44, total amount to be paid: USD 23,718.44. Repayment is in 540 equal (annuitet) installments. The calculation was made on March 30, 2020 on a representative example.
Minimum and maximum repayment period: min. 3 months, max. 10 years
Maximum APRC: 9.92%
The next expenses are of course educational materials. Students are less and less often buying their own books – they prefer to use libraries or the Internet. Most often, however, they use photocopier services. They duplicate not only books or scientific magazines, but above all lecture notes and scripts. The average price of a photocopier is around USD 0.10 for an A4 sheet. So let’s put aside an additional several dozen dollars a month.
Student life is also a band of (un) forgotten events and pleasures. Going to clubs, pubs, cinema, restaurant, theater, for shopping or coffee and gossip with a friend – all this costs, so it’s worth keeping “a few extra pennies” for that. Let’s assume that it will be around USD 200-300 per month.