Leaving home and going away to study is one of the most important rites of passage for many young people. UK universities have the reputation for being some of the best in Europe – if not the world. Not only do they possess up-to-date facilities but they are also located in some of the most beautiful historical cities and towns in the country. All UK universities have a wide range of extracurricular clubs and societies to join which appeal to all interests from team games to Harry Potter. What with all of this and the freedom to socialise, it’s no wonder that many graduates consider their university days as some of the best in their life.
The only thing which can ruin this great experience is if you have financial problems. Worrying about money can have a direct impact on every aspect of your life from your academic performance to your health. This is why it’s crucial that you ask for help.
Where can you get help from at the university?
Located on the south coast of England, Bournemouth University is typical of many universities in the help which it offers its undergraduates. Apart from Wellbeing advisors and on-campus personal advisors, support is also offered to students who are struggling to make ends meet by contacting its AskBU and SUBU advisors. Loans and allowances are available for specific groups such as the disabled or those with young/adult dependents as long as they meet the eligibility criteria.
A short-term emergency grant, given in the form of £15 supermarket vouchers, is available for any student enrolled at the university full-time. Although this grant doesn’t have to be repaid, students should attempt to do so when their finances improve as it allows the university to help other students in need.
The emergency loan is a short-term advance which is sufficient to cover 4 weeks of living expenses. It is given to any full-time student whose first instalment of their maintenance loan has been delayed. To receive this loan, undergraduates must provide proof that they’ve applied for funding, and it has been approved. It is repayable when they receive their money from the Student Loans Company.
If you find you are ineligible for financial support from the university or you need cash urgently, the best direct lender is able to offer you affordable loans to help you cope until your finances are in better shape.
What are the ways to improve your finances at university?
Apart from the assistance of loans, you can often make your money go further if you put a budget in place and try to stick to it. To improve your finances even more, you could take advantage of your location in a large town or city to look around for a part-time job. Not only will it give you some work experience for your CV but you’ll also develop important lifelong skills such as time management and working as a team.