Most students started their first year of University last month and are probably still adjusting to life away from home. The biggest problems students face though is managing their finances through their uni years.
The Times online has published a very useful article on the basics of student finances and how best to manage them. The idea is to leave Uni with as little debt as possible, as this will give you much more stability and less worry when you finally graduate.
It includes sound advice on bank accounts, credit cards, and tuition fees, amongst other financial matters.
Main points include:
- Go for a bank that gives you an interest-free overdraft
- If you accept a credit card from your bank only use it in real emergencies
- A student loan will hopefully cover your tuition fees. Visit this website to find out all the info you need www.studentsupportdirect.co.uk
- Find out more about bursaries from here www.bursarymap.direct.gov.uk. A university could give you a non-repayable bursary to help with living and tuition costs
- Try to save if you have any spare money over. It may as well be earning you some interest
- Shop around for the best accommodation deal for you. Halls of Residence tend to be the best value for money if you cannot stay at home
- Get insurance for all the valuables you will be taking with you. This can cost as little as £16 for the year
- Take time to compare the best mobile phone deals so you don’t get fleeced
- Get a part-time job. Earning extra cash will make live that bit easier
Read all about it here
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Very good blog that I haven’t read before. Good and illustrative information on student finance, how a student should apply for a loan and how they can use several ways to pay the loan and why they need to be careful about their loans. The tips mentioned on the care to taken before applying for a loan are really great.