You’ve just started uni and you get an email from your Student Union about Freshers’ Week — what to expect, where to go on your first day, plus there’s an organised pub night with your halls.
You’re excited, but the excitement quickly fades when you remember you’ve got to make your student loan last until the end of term. It’s completely normal to be worried about finances when starting uni or college. But knowing how to manage your money during term time can help ease your worries.
Here, we’ll share some tips if you’re worried about money, from looking for part-time jobs to additional funding support to where to find student discounts.
1. Create a budget
Creating a budget based on what money going in vs money you have going out can help you feel more confident starting uni or college. Having a budget doesn’t mean your money worries will all be sorted, but it means you have a plan so that you always know where your money is going rather than wondering where it went.
2. Look into financial assistance
Most institutions offer financial assistance to students facing financial difficulties. This support may come in the form of bursaries, scholarships, or hardship funds.
Scholarships do not require repayment, making them an invaluable resource for students seeking to alleviate the cost of their education. Bursaries, on the other hand, are typically need-based awards that aim to support students facing financial hardship. They may cover tuition fees, living expenses, or specific educational costs. To find financial assistance, you can:
- Check your university's website
- Get in touch with the student services or financial aid office
- Check out The Scholarship Hub to find scholarships or bursaries.