Money, money, money: the facts, figures and fantastic tips on how to manage your finances at uni
So, you’re starting university- congratulations! But now you’re confused by all the finance jargon and worried about how to balance the books. Well, look no further! Here is our take on the ‘finance’ side of things.
Paying for Your Course
If you’re not intending to self-fund your course, it’s important that you apply for student finance as soon as possible, as it usually takes up to six weeks to process, or sometimes longer during busy periods. You can apply via the government website.
Student Finance England resources are available online to explain every step of the application.
Foundation Year and cohort funding information can be found online on our website.
If you have successfully applied for a tuition fee loan, your loan will cover the cost of your course upfront so you do not have to pay these fees directly yourself. Instead, these will be paid straight to us by Student Finance England.
Student Bank Account
Do some research on student bank accounts before you start your course, to help manage your finances once you arrive. There are loads of perks to student bank accounts including interest-free overdrafts and free gifts and offers, so shop around.
If you have successfully applied for a maintenance loan, this will be paid into your bank account in three instalments.
Self-funding Your Course
If you are self-funding your course, or if you have not successfully obtained funding by the time you enrol, you have options available. The first module fee can be paid up front, which will be refunded to you once your finance has been paid to CU by Student Finance England. Another option could be to defer until the next available module and begin your studies then. But don’t worry, you can catch up at the end of the academic year.
You can pay your tuition fees online. Alternatively, you can pay in person on campus, but please note no cash payments can be taken.
Being a student is one of the only times in your life you’re guaranteed to get money off stuff, so you’ve got to take advantage of it!
Student ID Card
Loads of places around the town centre offer discounts, and all you need to do is flash your student ID card.
An NUS card costs £12 for a year and pays you back with over 200 UK student discounts. Head to get.nusextra.co.uk/nus-extra to find out more.
UNiDAYS and StudentBeans These sites are great, you sign up with your CU Scarborough email address to prove you’re a student, and bingo, immediate access to offers online and in-store, all for free!