QUOTE(SaxLad @ Sep 1 2011, 06:35 PM)
bit of a dilemma here.
Just picked up Guildhall's Prospectus and they reckon it will cost ?1200-?1500 a MONTH, to live in London. Now in an argument over how to fund 1200 a month which works out at appox 10,000 a year...
So how do people you know dso it? How do you do it? Major help needed!!
First of all, don't panic! I don't know all the answers yet, because my eldest is just off in a week or so, but here's as much as I do know, based on my own child and her friends who are going to London.
Guildhall's estimate is only a rough guide and it's a case of how long is a piece of string - if you're prepared to live very frugally it will obviously be cheaper than if you're living it up. 1500 pounds a month is a huge amount, even 1200 sounds generous.
Biggest cost is definitely accommodation, and there's little you can do about that. In London it seems to be 5,000 pounds a year or more - my daughter will be paying 5,400. After that, it's general living costs, most students/parents I've spoken to seem to work on between 90-100 pounds a week. Remember, that may include transport costs, although it depends where you live and which college you're at, some are closer than others.
Remember you're only at college approx 39-41 weeks a year, the rest of the time you'll hopefully be living a bit more cheaply at home. So it depends on whether you're looking at those monthly costs over 12 or only 9 months.
Now, in terms of getting the money... Your student loan/grant will depend on your income and/or that of your parents. My daughter is getting a tiny grant (she'll get none next year, the goalposts are being moved!), and a big loan. I think in total they will come to about 7,300 pounds a year. Looking at the estimate of approx 10,000 pounds a year, and depending on lifestyle, that obviously leaves a shortfall of 2-3000 a year, this will probably have to be filled by parental contributions or you working.
Don't forget other sources of funding. My daughter has a scholarship which helps the first year at least. She also won a bursary aimed purely at music students in our region, so have a look around where you live for something similar. All the conservatoire websites have links to charities and trusts which offer grants and scholarships, they all have different criteria so something might be worth having a go at.
Of course, this is pure speculation on my part - ask me again once my daughter's really got to grips with it all!