It is important to realise that when you first receive your student finance that this has to last for the whole term. It might seem a lot at first but it is soon spent.
Here are some tips to help you to budget your money:
Arrange an interest-free overdraft facility with your bank. If you already have a bank account from your home address make sure that you change this to a student account so that you can take advantage of any offers from the bank. Avoid all other loans or credit cards.
Once you receive your first instalment of funding you should:
Limit the amount of cash you withdraw each week
Think ahead to expenditure you will incur later in the year such as the cost of field trips or a deposit on a house. Try and save some money each term towards these costs. If you think you will be tempted to spend this, ask your parents to keep this for you until you need it.
Budget what remains over the number of weeks until your next instalment is due. A really good online budget calculator can be found on the UCAS website.
If you are a full time student, on enrolment you will be given details of how to obtain a Council Tax exemption certificate. This may result in you being exempt from paying council tax or your bill may be reduced by 25%.
Some younger students may be entitled to free prescriptions, dental checks and sight tests. To find out if you are eligible pick up a HC2 form from your doctor/dentist.
You may consider purchasing an NUS extra card at only £12 for the year which can be used to gain many discounts on a variety of purchases. Top offers include 25% off National Express, 25% off Odeon cinema tickets 10% off ASOS and up to 40% off Pizza Express.
Liverpool Hope University has created a Learning Support Fund for which students can apply if you are in financial difficulty. Please note however there is a strict set of criteria used when assessing applications and making awards so the guidelines which accompany the application form should be fully understood.
An application form can be obtained by either clicking on the following link or by visiting the Service desk in the Gateway to Hope building where copies can also be obtained. Learning Support Fund Application Form 2016/17
For more information please contact the student funds team firstname.lastname@example.org