Financial Advice for UK Students

This term, UK students face unprecedented levels of debt after graduation. According to Natwest Bank's research, students will complete their 3 year courses with almost £ 15,000 worth of debt. Last year a record 900 former students declared themselves bankrupt.

It's not all bad news though. According to government statistics, getting a degree will add £ 400,000 to your income during your working career, and in a recent survey, 90% of students believed the time spent at university was worth borrowing a substantial amount of money.

For those difficult first few years, we offer tips and advice for saving money, as well as some advice should your debt problems spiral out of control.

Shop around

Many universities are offering courses with tuition fees at less than the £ 3000 annual rate. At this time, Leeds Metropolitan University is currently charging just £ 2,000 a year for all of its undergraduate courses and Anglia Ruskin University is currently offering £ 2,000 in cash to all prospective full-time students who start this autumn.

Universities are chasing students as never before and many are offering discounted tuition fees, or cash back refunds if you can pay tuition fees in advance.

Shop around to find the best deal.

Study locally

One in five students study locally and live with their parents to save money, according to recent statistics. The problem with living at home though is that you will miss out on the infamous student life. It's been reported that two thirds of students who do live with their parents have never taken part in any social activities. Think carefully before opting to stay at home and study for a degree, you could have missed out on an important part of student life.

Take a part-time job

Something like 40% of students in the UK have part-time jobs to help them finance their studies. The average length of the working week is 14 hours and most students feel that their part-time jobs can help them with their future careers.

It would be better if you could find a vacation job, but in some areas this can be difficult. Avoid jobs where you have to work late or irregular hours.

Just borrow as much as you need

No one should spend recklessly whilst at university. If you later become bankrupt your Student Loan Company debts will not be written off because of government legislation. They will stay with you all your life and you will ever have to repay them.

However, banks are falling over theirselves as never before to lend money to students. If you spend sensibly, and stand a good chance of finding a well-paid job after you graduate, then you can top up your Student Loan Company money with a discount overdraft or bank loan.

Get free financial advice

If things get out of hand, do not bury your head in the sand. Contact Citizens Advice for free advice – your local NUS branch can help too.

Bear in mind that missing …

Attend College Free With College Grants

This is a plea to America’s future…our youth. If you are intelligent enough to be accepted into a college or university but cannot afford tuition, please apply for free college grants from the United States government, or the various national private granting agencies that provide them. America is depending on you to insure a bright and successful future for all of us. As our country’s common goal is peace, happiness, and serenity for all, of course we wish you an advanced education for your own personal satisfaction. But for all selfish purposes, America needs you to be properly educated and succeed. Every American citizen’s future depends on the knowledge and education of today youth. This is exactly the reason why the majority of government financial aid is distributed among college students to provide them with the essential advanced education that they need to insure their success and ultimately, America’s future.

Each and every year, over 375,000 brilliant young American minds forgo their college education and settle for a less than desirable social existence, working jobs that are less than mentally stimulating and making little more than minimum wage. Sadly, this disgraceful situation is due almost entirely to the fact that these individuals, who are lacking in the means to afford college tuition, are unaware of the enormous amount of funds available to them in free college grants and government financial aid. The government is not required to advertise this free money, but they do indeed prefer to award it to those who show promise in completing an advance educational curriculum, in efforts to insure a bright future for all who dwell in our fine country.

If you are a potential college student whose only obstacle between you and your education is a lack of monetary affordability, I urge you to investigate the possibilities of acquiring free government money for college through educational grant programs. Your country is depending on you.…