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Money talk

Money talk

Higher Education is a fantastic investment so don’t be put off by the cost. The system is designed so that students from the UK and EU, studying full-time for their first degree or other higher education course will not have to pay anything while they study. In addition graduates will not make a contribution towards the repayment of their tuition costs until they are earning at least £21,000 per year.

The latest information relating to the funding you are able to apply for through your funding body can be found on the Student Finance England (SFE) website www.gov.uk/studentfinance

 

The Student Funding Advice Team’s Top Tips

Press Play imageApply on time – applications for university funding usually open at the beginning of the calendar year in which you are due to start. Apply as soon as possible to make sure your funding is in place when you start.

Press Play imageDo your research – take the time to research and read as much as you can to ensure you get the student funding you are entitled to. Don’t presume you will receive the same as a friend as everyone’s circumstances are different when it comes to funding support.

Press Play imagePut together a budget - it’s important that you try to calculate how much attending university will cost you. A free online calculator is a great place to start: www.studentcalculator.org.uk as it helps you see what you may be entitled to and how much university can actually cost.

Press Play imageStart saving – it is unlikely that your funding package will cover all living costs so it is important that you begin saving now. Just putting a little away each week/month will really help when you get to university.

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Here are some ways you can become financially independent:

Press Play imageWork during the summer – full-time work can help towards funding your studies and can often mean you have to work less while you are studying.

Press Play imagePart-time work while studying – we have a Job Shop which can help you find vacancies so you can earn while you learn. It can also build your skills and experiences which will help you get a job when you graduate. The NUS advises that students should not work more than 18 hours per week.

Press Play imageVoluntary work – may not provide you with money straight away but can lead to other opportunities and it is fun!

Press Play imageInterest free overdrafts – many students are entitled to an interest free overdraft and this can provide a buffer if things get tight. Shop around different banks for the best value overdraft, don’t simply choose the one that offers you the best free gift.

Press Play imageAsk for help – we know how confusing some of this can be and we are here to help, so please visit our webpages regularly and for any other questions, please do not hesitate to contact us. We are here to help you now and all throughout your studies.

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W: www.yorksj.ac.uk/moneymatters

E: fundingadvice@yorksj.ac.uk T: 01904 876939

 

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