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Making the most of your student funding

16 September 2021

The start of the new academic year is here, so there’s no better time to make sure your student funding is sorted! Our Student Funding Advisory team share their top tips for maximising your financial wellbeing this year.

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  1. Start by making sure you’ve got everything you are entitled to. Most UK undergraduates are eligible for both a tuition fee loan and a maintenance loan from Student Finance. Our funding webpages have lots of useful information about how Student Finance works during study, covering everything from when you will receive your funding to requesting a current year income assessment if you think you’re household income assessment was too high.
  2. Make a budget! If you aren’t sure where to start, the Student Union Advice Service are running a Budgeting Workshop on Thursday 23rd September. Sign up if you’re new to managing your own money, or if you just want a refresher.
  3. Be a savvy spender. Lots of retailers offer student discounts so make sure you ask. But check how much you are paying for branded goods, even with a discount, as you might save even more buying no-brand items. There are loads more great money saving tips over at Save the Student.
  4. Increase your income. We’ve got lots of suggestions for making your money go further on our money management webpage, including suggestions for part time work. Remember your academic studies should take priority, but there are lots of ways to get some great work experience and earn a bit of money at the same time.
  5. Ask if you need help. The Student Funding Advisory team can help with complex funding queries, and we can also help you draw up a budget. We’re here to listen in confidence and without judgement. If you find yourself experiencing unforeseen financial difficulties, the Financial Assistance Fund will open early in the new academic year. Don’t leave it to the last minute. If you think you’re going struggle financially get in touch via askUCL and we’ll be happy to talk through your options.