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Top tips for student finance


Ruth Round, an Applicant Support Manager at the University, offers her top tips for funding your studies and ways to help student budgets stretch further. 

1. Research how much money you might be entitled to

Many people are naturally concerned they may not be able to afford to go to university. Most students can apply for a loan to cover the fees and an additional loan towards their living costs. There are also grants for students who have extra costs because they have a disability or have dependant children.

The exact amount you get will depend on the income of the household you live in at the moment and whether you plan to live at home or move away to study. You can check how much you are likely to get by using the calculator on the SFE website.

2. Apply for funding early or as soon as possible

The student finance application process normally opens in February, so apply for funding in plenty of time to ensure your money is in place for the start of term. You don’t have to have a confirmed place at university before you apply.

If you get your place through Clearing and haven’t yet applied for your funding, don’t panic! You just need to go to and apply as soon as possible. If you have applied for funding but are now going to a different university or studying a different course, you need to log back into your student finance account and click on the ‘change your application’ link. You can then enter the new details to ensure you are paid on time.

3. Find out about scholarships and bursaries

Most universities will offer a variety of scholarships and bursaries to students who meet certain criteria. These can be based on academic or sporting excellence or aimed at certain groups of students such as care leavers or those from households with a low income. More information can be found at

This is free money so do your research to find out what you can get.

4. Open a student bank account

As soon as you have an offer for a place through UCAS, you can talk to the banks about opening an account. The advantage of this is that student bank accounts normally have an interest free overdraft facility which is useful if you accidentally overspend.

This will usually be activated once your first instalment of loan goes in.

5. Research accommodation options

If you are thinking of living away from home, make sure you find out what accommodation is available. Most first-years live in halls, but there is a large variation in price depending on where you are studying and what kind of accommodation you choose.

En-suite bedrooms are nicer but more expensive, so you will have less money for socialising if you choose one of these.

6. Learn to budget

The student loan is paid in three instalments – at the start of each term. This means that the first payment may look like a lot of money, but it has to last until January, and you will want some left to enjoy Christmas.

Once you know how much your accommodation or travel costs will be for the term, you can then divide the remaining loan by the number of weeks until you get your next loan.

That is how much you have to live off each week.

7. Get student discounts

You can apply for an NUS (TOTUM) card or one of the student discount apps such as UNiDAYS or Studentbeans.

Many shops, restaurants, cinemas and online retailers will offer a discount for students, but you will need to show your ID card or app to get them. Once you are a student, get into the habit of asking if they offer a student discount wherever you go.

8. Get a part-time job

Many students work part-time alongside their studies. This is not just good for your bank balance, and it is also good for your CV when you come to look for a job after graduating.

You need to make sure it doesn’t impact your studies, but depending on the course's intensity, 5 to 15 hours a week is usually manageable. Don’t forget that you also get three months off in the summer when you can work to save up money for the next year.

9. Research travel costs

If you are staying at home and travelling to university to study, then consider what will be the cheapest way to travel. If you know that your course requires you to come to university each day, it will probably be cheaper to buy a monthly or term-long travel pass, particularly if you can get a discount.

However, many courses only require you to attend for three days a week, so it may be better to pay a daily fare. If you are planning on driving to university, don’t forget to factor in the cost of car parking.

10. Learn to love the library

Academic books can be very expensive, and you don’t need a brand new copy of all of them. Many will be available in the library, so make sure you are organised and reserve any you need in plenty of time.

If you need to buy books, then look at getting them second hand or using your NUS card to get a discount.


For more information please contact the Corporate Communications Team.

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