Why it made financial sense for us to marry in college

Often the cost of marriage puts young couples off trying the knot. When we decided to get engaged we started to think about whether getting married whilst we were both still in college was a feasible option. A big part of the decision was the financial impact of marriage and if it was something we could afford to do whilst both studying. But we were luck to discover that getting married whilst in college made great financial sense for us and has saved us money. Today we are sharing some of the reasons why getting married as students has been financially beneficial for us.

• Our living costs are reduced. Rather than renting two separate rooms which in Brighton often cost £400-500 p/m we have a 1 bed flat that gives us so much more space than shared student housing for £750 a month. We  found that being married generally means living off campus which is typically cheaper accommodation anyway. Also we are able to share the costs of food, transport and laundry that would have been separate. 
• Grants and scholarships. As we are both students presently we are considered a low income household and so our eligibility for grants and scholarships is based on our joint income. This means we have been eligible for money that we would not have got had it we been assessed on our parents income. As we are assessed on what we take home, as although many students do part time work the income from this is unlikely to surpass parents income. Even once I start work following graduation our household income will not surpass many thresholds for assessment. This can make a huge difference to paying for the cost of college as we have gone from receiving the minimum amount of grant  to the maximum (£3000) plus Chris got a £2000 scholarship from his college that we didn't even have to apply for simply because we're low income. 
• Tax benefits. Married couples cam get a tax break worth up £432 if one spouse is a non-tax payer (earning £11000 or less) and the other is a basic rate rate payer (its backdates so many can get this years and last years allowance). This tax situation is likely to occur if one of you is still studying whilst the other is working. To apply for this head to HMRC website 
• Less student finance. Chris has just completed his first year of a 4 year engineering programme and I am about to start work following Graduation. We are fortunate to be in a position where my salary provides us with enough to live off and that the money Chris brings is is out savings. Because of this we have taken the decision to only take out a maintenance grant and not a maintenance loan this means Chris will owe less on his student finance when he graduates.
• Different perspective. Being married we have both found ourselves moving away from the typical student scene. This has benefitted both our grades (both of us averaging 1st class degrees (4.0 GPA)) and our bank balance. For me knowing the outcome of my grades and getting a job not only impacts me but my husband motivates me to succeed so that I can provide for him whilst he completes his degree. 
• Independence. Though we were pretty independent from our families before marriage being married has made us completely. This is unusual for college students but is a super important life skill. Though independence brings challenges we have also relished in it as it has provided the opportunity for us to set our own goals ands aspirations.