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Student Finance and Budgeting

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Student Finance - Overview

Student Finance

Tuition Maintenance

Tuition Fee Loan

Maintenance Loan Maintenance Grants Bursaries

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Useful websites• www.studentfinanceengland.co.uk

For extensive information about fees, loans and government grants, including an eligibility calculator

• www.studentloanrepayment.co.uk For information about repaying student and tuition fee loans

• www.direct.gov.uk/childatuni• Parents’ guide to student finance at university • www.essex.ac.uk/studentfinance

Information about fees and bursaries at the University of Essex

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Tuition fee loans• Students have a choice: to pay the fee

themselves or to use a fee loan through Student Finance England

• The loan is paid directly to the university • Fee loans don’t have to be repaid until the

student is earning more than £21,000 gross per annum

• All full-time undergraduate students are eligible for the fee loan

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Student bank accounts

• Banks love students• Incentives for students to join• But don’t rely on the overdraft facility!• Take advantage of the offers and freebies• …except credit cards!

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Part-time jobs

• Most universities will have a ‘job shop’ on campus to help students find work.

• Holiday work: current part-time jobs may be useful in vacation time!

• Casual/odd jobs are good if you can’t fit work around your studies• 80% of students work in term time

and/or holidays

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Money saving tips• Try to start saving now!• Don’t buy everything before you go• Consider buying things second hand • Do you really need an en-suite bathroom?• Take some extra cash for the first few weeks• Don’t take a car or a credit card• Use student discount cards and railcards• Make friends with people who can cook!• Don’t view overdraft facilities as free money• Employers look favourably on students who had part-

time jobs…