Finance advice
“Budgeting can be time- consuming but it’s essential to do this so you can see where you are financially and identify any shortfalls you have to meet”
has a range of bursaries and scholarships based on various criteria such as academic achievement, financial need and specific talents or interests, and its scholarships aim to support students from low-income households and students classed as care leavers, children from a military family or refugees. “These financial aids can significantly reduce the
burden of tuition fees and living costs, making higher education more accessible but always check the eligibility criteria and application deadlines so you can make the most of these opportunities,” says Paul.
Other sources of funding Charities and trusts offer a huge number of grants to support your studies. These charitable grants can go towards any reasonable costs connected with going to university, such as tuition fees, accommodation costs, living expenses or equipment you might need. They are
allocated according to certain criteria, such as: l
Where you live
l l l
l What your parents do for a living Any illnesses or disablities you might have
Special interests, activities or hobbies, such as music, sport, drama Your religion or ethnicity
For some, parental contributions will play a significant
role in funding education. This support can come in various forms, such as covering living expenses, tuition fees, or providing a regular allowance. While not all
families can afford to contribute, for those who can, this financial support can ease the overall burden of university costs. Working part-time can be another effective way to
support your studies financially, especially if you plan on studying in or near a city. Many students find part-time jobs in retail, hospitality, or even within the university itself but make sure you are able to balance this with your studies and time for yourself. In other words, don’t overdo it!
“Balancing work and study can be challenging, but it teaches valuable time management skills and provides extra income to cover living expenses,” says Paul. Personal loans sourced from banks could help fill
other gaps in funding but it’s essential to carefully consider the interest rates and repayment terms before committing to this.
Budget: your new best friend Budgeting can be time-consuming but it’s essential to do this so you can see where you are financially and identify any shortfalls you have to meet. If you are applying for financial help, some funders may also want to see a budget so if you have one already prepared, it could really help to speed up the application process. Set out essentials that you will need to cover on a
regular basis - this includes your rent, food bills, utilities and course materials, to name a few. You want to know your sources of income, which as we’ve outlined above, could come from a range of sources: maintenance loan,
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