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…
Managing your money is one of the biggest concerns for many university students, from applying for student loans or bursaries, to budgeting worries or even paying your own bills for the first time, understanding your finances is an important consideration.
Our dedicated and specialist Money Advice Service can support you with these queries and more, including information about support for students with children, welfare benefits, tax credits, debt management and general financial queries. The Team offer appointments, if any student would like extra support or advice, and you can book an appointment with a Money Adviser via firstpoint online here.
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 much more…
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
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 areas where you can 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 also a good idea to 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 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 Hive library has a huge collect of academic textbooks to borrow – check before you rush out and buy your own copy and look out for any special events, such as the Textbook Rescue Scheme
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.
