Every Monday, firstpoint publishes five points about a topic related to life at university. This week, what help and advice is available to manage your money during your time at university…
POINT ONE: GET SOME ADVICE…
Did you know that you can make an appointment to speak to a Money Adviser? The Money Advice team offer weekday appointments, to provide financial advice and guidance. You can discuss a range of different topics including: budgeting, tuition fees, student loans and grants, NHS grants, scholarships and bursaries, support for students with children, welfare benefits, tax credits, debt management and general financial queries.
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. You’ll find specific helpful sections for International and EU students, Students with dependents, Funding for Study Abroad and more…
Come and have a chat at firstpoint if you would like to find out more information.
POINT TWO: 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.
The International Student Hardship Fund is also available to international students in year 2 or above and is available to those students with an unexpected financial difficulty requiring one-off, short-term help.
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 and be sure to check out the guidance notes to help you with the application.
POINT THREE: 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.
- Consider other areas you might also be able to save, such as bringing your lunch or hot drink instead of always buying something on the day.
- Think about how you can shop smart: make a budget and a list, avoid expensive labels and try supermarket own brands. It’s a good idea to try and avoid impulse buying and not doing your food shop when you’re hungry
- Try the Too Good to Go app, which connects customers to restaurants and stores that have surplus unsold food and offer it at a bargain price.
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 started with the resources on their budgeting webpage. If you are struggling to buy the provisions that you need – come and have a chat at firstpoint and we can signpost you to support and help.
POINT FOUR: 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 year
- 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.
POINT FIVE: EARNING WHILE YOU’RE LEARNING…
There are lots of opportunities available to earn while you learn at the University, with roles like student ambassador, student receptionist, Students’ Union help desk assistant and more. Further information can be found on the University vacancy pages and the SU vacancy page.
The University’s Careers & Employability Service promote and advertise jobs specifically aimed at students. You can discover the latest local part-time and summer jobs by logging into your myCareer portal, where you’ll also find help with applying and interviewing.
firstpoint 