As a student you may well be living on a limited income, so it is
essential that
you make sure that you are receiving all the money that you
are entitled to.
If you are having financial difficulties then maximising your
income will be a crucial step in getting you back on the right
track.
The
Student Advisers can help you check that you are receiving all
that you are entitled to, but here are a few tips:
- Are you receiving all the loans & grants that you are
entitled to?
The Directgov website has information that can help you check
this. If you have not applied for your full student loan
entitlement then it is possible to request more during the
year.
- Can you
apply to the Access To Learning Fund? If you are a home student
in genuine financial difficulty then you may qualify for an
award.
- Are you eligible for a
£329 or £400 university bursary? Have you received
it?
- Are you working part-time? If you are then you might
consider increasing your hours, but not so much as it interferes
with your studies (the university advises that 15 hours is a
sensible limit). The holidays provide a good opportunity to
work more and save up some cash.
- Are you paying too much
tax?
- Are you eligible to receive any social security benefits or tax
credits?
- If your bank or credit card company has charged you for going
over your overdraft limit or making late payments, you could try
and get these back.
- Are you eligible for any other form of loan? If you are not
eligible for a student loan you may be able to apply for
Professional and Career Development Loan.
- Are there any Trusts or
Charities that can help?
For more information, check our 'Extra
Money' information sheet.
If you are in temporary financial difficulties and need cash
urgently, then the Student Advisers can give emergency short term loans.
Remember - the best way of avoiding getting into money troubles
is to manage the income that you do have properly. Budget well.
"The Smart Money initiative at the University of
Westminster is part of a national project aiming to improve
students' financial capability, led by the Consumer
Financial Education Body (CFEB)"