Every Monday, firstpoint publishes five points about a topic related to life at university. This week, what help is available to manage your money…
POINT ONE: Meet with an Adviser
The Money Advice team offer weekday appointments, to provide financial advice and guidance. They can help if you have problems or delays with funding applications, advise what to do if your circumstances change and help identify additional sources of funding that may be available to you. Contact firstpoint to book an appointment.
POINT TWO: Have a look online
The Money Advice webpages have lots of helpful information and links, including advice about tuition fees, loans, grants, self-funding, funding for part-time students and postgraduate loans. There is also advice about debt management, welfare benefits, budgeting and general financial queries.
POINT THREE: Getting support if you are suffering financial hardship
The University Hardship Fund is called the Access to Learning Fund. It’s a non-repayable grant to help eligible students experiencing financial difficulties. In particular, help is given to students who may be financially disadvantaged.
Each application is considered for its own merits, so anyone experiencing financial difficulty is encouraged to apply. You can download the PDF application form from the Money Advice webpage.
POINT FOUR: Learn to budget
Managing your money is one of the most important things you will learn as a student. Knowing that your finances are under control will allow you to relax and enjoy your time at university. You’ll need to learn how to budget to ensure that you have enough income to cover all your outgoings including rent, food, bills and travel.
It can help to speak with a Money Adviser for help with budgeting and planning to make your money go further, but you can get starting with the resources on their budgeting webpage.
POINT FIVE: Plan for the unexpected
Unfortunately, there are likely to be some costs at university that you haven’t planned for, such as a TV licence, printing course materials, and buying textbooks. Look out for ways to save. For example:
- if you go home for the summer holidays, you may be able to get a refund on your TV licence for the remaining months,
- full-time students are gifted £10 print credit at the start of each academic,
- the library has a huge collect of academic textbooks – check before you rush out and buy your own copy.
Find out more about how much it costs to go to university on the Money Advice webpages.