Information for all students
Money Matters
You must ensure that you have sufficient funds to cover all your expenses whilst you are studying at UCL. In addition to your tuition fees, you should expect to need a minimum of £245 per week for a 37-week year to cover the basic costs such as accommodation, food and personal expenses. The Money Advice Service website gives helpful tips on how to manage your money at:
http://yourmoney.moneyadviceservice.org.uk/guides/work/money_while_you_study.html
International students should allow for additional expenses on arrival, such as clothing and temporary accommodation. Further details are available on the International Office website at:
Surviving in London on a limited budget is easier than you might think, and there are student reductions for local travel and many social, cultural and leisure events. Some useful advice on budgeting is available on the UCL Students’ Union website:
The key to success is to learn how to budget! You may like to use a budget calculator such as www.studentcalculator.org.uk to help you to plan your finances.
Full-time students are eligible for the Transport for London travel discount scheme. Details are available from the Transport for London website:
www.tfl.gov.uk/tickets/14312.aspx
Banking
You are strongly advised to arrange your student bank account before or immediately after arriving at UCL.
Most of the major UK banks offer student bank accounts with features designed for student life. Ensure you compare what is available before choosing an account that is right for you. Looking at newspapers and websites will help you to do this.
If you are a non-UK resident opening a student account in the UK can be time consuming and difficult. Students studying in the UK for less than 12 months may not be able to open an account at all. If this is the case, we would advise you to ensure that you have other means to access your money when in the UK.
For students studying for more than 12 months we strongly recommend that you seek advice from your own bank before leaving for the UK. Ask if it is a partner with any British banks; if so, ask whether it can help you set up an account and transfer funds prior to your arrival.
Make sure you have access to enough money to cover the first few weeks of your stay in the UK (either by means of traveller’s cheques, a bank cash machine card or credit card). If you deposit a sterling cheque in your account in the UK, you will be able to access your money as soon as your bank has set up your account and the cheque has cleared, which can take up to two weeks. Please note that it can take three to four weeks for a foreign currency cheque to be converted into sterling once it has been deposited in a UK bank account.
Further information about banking is available from our website at:
Full information about student fees and funding can be found by following the links as follows:
Undergraduates: www.ucl.ac.uk/transition/joining/undergraduate
Graduates: www.ucl.ac.uk/transition/joining/graduate
Page last modified on 21 jul 11 11:55
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