Tips Before Going to University
If you are applying to university and considering taking a student loan, part time job, grant, and money from family you will have to manage your money responsibly.

Manage you funds and expenses
The best way to manage your expenses and funds is to plan ahead. Regularly reviewing you expenses and income will give you a good insight to when you are spending too much money. Student-debt.org gives you a step by step guide to managing your expenses.

Step1. Start by making a list of all household and personal expenses made in a year, this is easily done by keeping an eye on your bank statements and cheques you have written. Some examples of expenses are:

o        Rent/Mortgage,

o        Endowment,

o        Insurances,

o        Council Tax,

o        Water Rates,

o        Food,

o        Household supplies,

o        Gas Electric,

o        Telephone,

o        Travel,

o        Programme expenses,

o        Tuition fees,

o        Childcare costs,

o        Disability-related costs,

o        Medical expenses,

o        Loan repayments,

o        Credit cards,

o        Entertainment/social.

Your list gives you a clear overview of how much money you are spending and what you are spending it on.

Step2. Make a list of your total income including pay checks and allowances. Do not add overdrafts or credit cards to your income. Some examples of income are:

o        Sponsorships,

o        Net wages,

o        Working Tax Credit,

o        Housing Benefits,

o        Income support,

o        Child Benefits,

o        Child Tax Credit,

o        Parental allowance,

o        Higher education grant,

o        Bursary, TTA salary,

o        Childcare grant,

o        Adult Dependants Allowance,

o        Parents Learning Allowance

o        Grants.

Step3. Subtract your total expenses from your total income; the remaining sum will give you an idea if you are spending too much money.

Step4. Now calculate whether the remaining sum is enough to cover additional expenses, like travel, school, holiday, childcare a. so. If you don’t have enough money left over, you need to ask yourself the following:

1.      Are there any areas where I can make cut backs?

2.      Have I maximised my income?

Step5. By applying these four steps and putting away an amount of money each month into a savings fund, with time and patience you will be able to have enough money to do the things you love.

Student Accommodation
Managing your finances during your academic year is extremely important, if you budget your money it will last longer. A huge expense for most students is accommodation. Start looking for a place to live as soon as you have chosen your university, find an area you will be comfortable living in but also consider the price range.

Accommodation for students is UK’s nr 1 accommodation database; thousands of students find housing, post available rooms and flats, rate housing, and find letting agencies all on the same site.

www.accommodationforstudent.com

Financial Support
If your current financial situation is not sufficient to cover the costs of your education financial support may be an option. You might consider looking into the following:

Hardship Funds
There are hardship funds and hardship loans; a hardship fund is usually given after you already have taken out a HS loan. The fund is a sort of grant that ranges from £300-£3000 and is paid out in a lump sum towards the end of your academic year. If you are experiencing financial trouble consider applying for a HS fund. To find out if your course qualifies enquire at your university.

Grants/Scholarships

Student Loans