Student Finances

UK tuition fees & university funding

When starting university, the last thing you tend to think about are the financial stresses that come with university life. Knowing ahead of time how much you should spend and how much you are receiving is the best way to survive the potentially expensive student lifestyle that will open up before you.

As many people are aware, the cost of having a university education has increased severely over the last decade. With maintenance grants on the way out, students are now expected to pay their own way through university with the help of student loans. This means that money will need to be spent on tuition fees, accommodation, course books, general bills for living expenses, travel, entertainment, food and drink and many other things that come with living and university life.

Many students will find it hard to cope with the never-ending financial worries, and this can potentially interfere with the overall grades received at the end of university as well as affecting the university experience itself. Many people who have considered university either do not go because they cannot afford it, or feel that they would spend too much time worrying about how expensive it is during their university career.

However, before entering student life, looking into the right financial choices can ensure that your worries are focused on meeting deadlines and not how much money you have to spend on food for the week.

Working to raise funds

One of the best ways to make sure that you have money coming in regularly and have some extra pocket money is to work part-time during term time or full-time during holidays. Universities are great at promoting jobs ideal for students, and job centers, newspapers, shops and the internet are perfect places to check out local advertisements for vacancies. Especially in university cities, shops, restaurants and bars will all be in need of students to take over from past students who have moved on.

Some courses even offer something called a ‘sandwich year’, which is essentially a gap year between your 3 years of studying to gain experience in a job of your chosen field and earn wages as well. They may even be able to sponsor the course you are in if you pick the right place to do your year's experience. As a university student you will be entitled to a minimum of £4.83 – 5.93 an hour depending on your age, which is enough for some extra money to contribute to food and drink.

Seeking a financial services solicitor?

A financial services solicitor can provide essential help when it comes to aspects of financial services, including advice on certain financial services.

The Financial Services Compensation Scheme

The Financial Services Compensation Scheme (FSCS) is a fund set up by the Government as a last resort for those owed money by insolvent firms.

All about financial services

The term financial services covers a number of areas within the world of money. Financial services describes many services which banks offer.