London Borough of Brent Children and Young People's Service Leaving Care Financial Support 2019 - 2020 Categories and Entitlements - Guide for ...
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London Borough of Brent
Children and Young People’s Service
Leaving Care Financial Support
2019 – 2020
Categories and Entitlements
Guide for Care Leavers
Young People’s Guide on Financial Entitlements 2019/2020
Introduction
This financial guide gives you the information on all aspects of eligibility for financial support available from
Brent Children and Young People’s Service. The guide sets out the type and amount of allowances that you
are entitled to receive based on your status and circumstances.
The figures given refer to the financial year April 2019 – March 2020 and will be updated on an annual
basis.
Eligibility
For the purpose of this document, entitlement to services is based on the following categories:
• Former relevant young people are young people aged between 18 to 25 years old.
Notes and Implementation Issues
• The financial policy has been produced following consultation with care leavers, foster carers, social
care staff and other professionals
• The allowances set out in the following sections apply to all ‘Former Relevant’ and ‘Qualifying’
young people dependent on their legal/immigration status and an assessment of their needs. If
you are a Care leaver who is also unaccompanied asylum-seeking children, you are entitled to the
same allowances as any other care leaver. However, allowances to you on may be affected as a
result of your immigration status.
• Your personal advisor will be there to advise and assist you and will map out what financial support
we can offer in your pathway plan.
Page 1
Young People’s Guide on Financial Entitlements 2019/2020
Section 1
Former Relevant Young People
• If you are aged 18 to 25, some financial assistance will not be paid after your 21st birthday.
Category Weekly amount Comments
Subsistence £57.90 paid by You will be claiming Income Support, Universal Credit,
DWP. training allowance or working.
If you remain in a foster placement post 18 you can claim
welfare benefits. You may also be eligible to claim housing
benefits up to the level of the local reference rent. This is
dependent on the circumstances of the foster carers.
Initial Benefit Claim*
Leaving Care Service may provide up to 4 weeks Subsistence
payments to assist you whilst you wait for initial benefit claim
to be processed (evidence will need to be provided). You will
need to sign the ‘Agreement to Share Information Form’ so
that your social worker or personal advisor can liaise with the
Department of Works and Pension (DWP) regarding your
claim.
If you do not follow the requirements of the DWP i.e. attend
appointments, your subsistence payment will cease after four
weeks. You will then need to liaise with the DWP and apply
for an advance payment.
Fares Oyster Card You will be given 70% discount towards an Oyster Card if you
Or travel are in full-time education, training or employment during
warrants term-time only to cover up to zone 1-6. You will need to have
a current education learning agreement or enrolment letter
to confirm this.
Birthday Celebration
19th , 20th and 21st £20 The birthday/religious allowance will only be paid to you if
birthday you remain in contact with Brent Children and Young
People’s Service this also includes if you are in custody or
young offenders institute.
Religious Celebration £15 Only one payment is made annually up to the age of 21.
(one off payment for
Christmas or other
Religious Celebration
Page 2
Young People’s Guide on Financial Entitlements 2019/2020
Support with education, training or employment
• Your university course should start before your 21st birthday as our support to you will end
on your 25th birthday.
Further Education [Non-advanced courses i.e. GCSE and A levels, BTEC etc.]
Category Amount Comments
Course equipment £100 (if not You will need to apply to the Learning Support Fund
and enrolment fees. provided by during the 1st week of enrolment for course equipment,
College) the college administrates this fund. If funding is refused
proof will be needed from the college. LB Brent may then
Interview for Clothing £75 (if not provide equipment costs for your education course,
provided by DWP depending on assessment of need. Enrolment fees will be
paid subject to verification of course details. Interview for
clothing will only be paid if funding is not available for any
other source i.e. DWP
From the age of 18 to 20, if you are studying full time (12 hours or more of ‘guided learning’) you can
claim Income Support and Housing Benefit on the grounds of being in ‘Relevant Education’.
In order to qualify for Income Support on the grounds of ‘Relevant Education’ up to the age of 20 you
must commence an education course before your 19th birthday.
Where appropriate, and dependent on an assessment of need, Brent Children and Young People’s
Service may provide assistance for specific grants and one-off payments to you if you are studying, for
items such as books and equipment, if funding from the Learning Support Fund has been refused.
As a ‘Care Leaver’ you are a ‛priority group’ in terms of college ‛Access Funds’ which are sometimes
called Learner Support Funds. Many colleges also have bursaries and specific welfare grants which you
may be able to apply for. The students’ support service should be able to provide information on both
the practical and financial support that may be available.
Higher Education [Advanced Course’s i.e. Degree level]
See Flow Chart for details on financial support offered to you. If you are in Higher Education (this either
is a Degree/HND level) it is expected that the student loan will cover the cost of accommodation during
term time. Brent Social Care has a duty where required to provide assistance with rental deposit and the
cost of vacation accommodation either in cash or kind. This will only be for a maximum of 16 weeks, if
you can find other financial support i.e. by finding employment or using your savings.
During Christmas and Easter vacation you will not be entitled to financial assistance towards rent and
living costs – these are covered by your student loan and Education Bursary. Requests for additional
support will need a full financial assessment of income and expenditure to include clearly where the
shortfall is and if additional funding was not available you will suffer severe financial hardship.
Category Amount Comments
Christmas and Easter Nil Payments will usually be covered by student loan and
Vacation bursary
Accommodation and
Subsistence payments
Summer Vacation £current market Financial assistance will be provided to cover payment
Accommodation rate if not in your towards rent – you will be encouraged to seek
payments own tenancy employment during the summer vacation to enhance
Page 3
Young People’s Guide on Financial Entitlements 2019/2020
your employment prospects once you leave university –
in exceptional circumstances subsistence maybe paid.
Graduation Ceremony Up to £200 Costs towards hire of gown and photographs
Higher Education £2000 Paid in Instalment over the duration of the course and is
Grant dependent on your results at end of each academic
year. You could use this grant to pay for a laptop or
towards rent during your Christmas & Easter break.
Welfare Benefits
The majority of you who undertake higher education courses are ineligible for welfare benefits such as
Income Support and Housing Benefit. Certain limited groups of young people who undertake higher
education courses if you are a lone parent or disabled you may remain/be eligible for welfare benefits
while studying.
Lone parents may be eligible for the Government’s Childcare Grant and/or Parents’ Learning Allowance.
Disabled students may be eligible for the Disabled Students’ Allowance.
Additionally, lone parents and disabled students are eligible for the equivalent of the Student
Maintenance Grant.
If you are a Lone Parent or a Disabled Student and in receipt of Welfare Benefits you should check with
the Department of Work and Pensions regarding the rules about student loans. Being in receipt of a
student loan may cause disqualification for welfare benefits.
If you are UASC young person wishing to attend university details of your current immigration status
and eligibility of student loan application will need to be confirmed prior to any agreement of funding
from Brent Children and Young People’s Service.
Additional Funding and Information
You are a ‛priority group’ in terms of university and college ‛Access Funds’ which are sometimes called
Learner Support Funds. Many universities and colleges also have bursaries and specific welfare grants
which you may be able to apply for. The individual university or college should have information about
these. The students’ support service should be able to provide information on both the practical and
financial support that may be available.
Page 4
Young People’s Guide on Financial Entitlements 2019/2020
Other financial support, i.e. accommodation
Category Amount Comments
Renting Private If you want to rent a private property, it is likely that the
Accommodation landlord will require a deposit and rent in advance before
they will agree to a tenancy. If you are over 18, they will be
supported to access a rent deposit scheme.
Key Documents £75.50 LB Brent will purchase a passport and 1 birth certificate for
you [once only] if it has been lost and if funding is not
available from any other source i.e. DWP.
Emergency payments £30 Brent Children and Young People’s Service will in
exceptional circumstances provide emergency payment in
form of £20 food voucher and £10 in cash. These payments
will be dependent on an assessment of need and will not
exceed a one-off payment of £30.00.
Setting Up Home £2000 or The setting up home allowance is available up to the age of
Allowance £2200 (single 21 [25 where young people are attending a higher
parents) this is a education course]. The setting up home allowance should
one of payment. always be used to purchase household items. At least £70
should be used to buy a health and safety pack [smoke
detectors etc.]. The allowance is payable when you have
secured a council tenancy, in exceptional circumstances
some goods may be purchased whilst you are in a semi-
independent placement (up to £250), the costs of goods
will then be deducted from the total figure of your setting
up Home Allowance.
Council Tax Exception Depends on local If you are 18 and either in full-time employment,
council tax rate training/apprenticeship scheme and have previously been
in Brent’s care, regardless of where you are living now and
have to pay council tax (Students and young people
claiming benefits may not be liable to pay council tax as
they are deemed to be on low income). You will be able to
apply for council tax exemption. Brent care leavers should
first apply for a ‘discretionary reduction’ which will leave
an outstanding council tax amount, which the Council will
then reduce to nil (which means you will not owe the
Council any council tax money).
Page 5
Uni for you?
The London Borough of Brent is committed to increasing the number of care leavers going to
university. Going to university should give you the opportunity to study a subject that you enjoy,
to learn about living independently, to have fun and increase your job prospects.
What can the London Borough of Brent provide*?
We want to help you get the most out of your time at university. In order to do that we are
prepared to assist in the following:
- £2000 Higher Education Grant payable in instalments over the duration of the course*
- Financial support for rent during the summer accommodation. For Christmas & Easter half-
term breaks rent is included in your maintenance loan however if you think you may need
financial help speak to your Personal Advisor.
- Expenses for visits, open days & Interviews
- A laptop & specific software, if not already provided, young person must first make
application to University for Higher Education bursary or apply for Hardship Fund.
- Travel grant to pay for fares to University
- Advice and assistance in finding vacation accommodation if studying outside London.
What can you expect from the London Borough of Brent?
We will also offer assistance during your time at university in other ways. Most importantly
you can expect:
- Support & encouragement from your allocated personal advisor or from the virtual school
right up until the time that you graduate
- Help with filling out forms
- Assessment of your financial needs
- Review of your pathway plan every six months
- Travel to & from university during term time if needed
Making the most of your time
Going to university is a big step. It won’t always be easy, but all the effort will be worthwhile
in the end. University life can be tough, but you have come this far so with our support and
your commitment it will be worth it in the end.
* Subject to agreed eligibility
Contact your social worker or personal advisor if you are starting or returning to University.
This flow chart applies if you are to commence a Higher Educa%on Course
in September 2019
Star%ng Course
in 2019/20
Brent Support University or
Student Finance *
University bursary up to £1,000
Expenses for visits, open days &
per year [varies between
interviews universities]
A lap top & specific software
(apply for Access Fund) Up to £11,672 Maintenance Loan
[London]
or
Up to £8,944 Maintenance Loan
Travel Grant to pay for travel [outside of London]
fares to University
Up to £9,250 Tuition Fee Loan
£2000 [non-repayable] [paid directly to University].
Education Grant one off Universities that charge the
payment paid in instalments maximum tuition fees per year
must provide a minimum
bursary of up to £400 per year,
Financial assistance [depending apply to University.
on assessment of need] will be
made towards rent during
Christmas, Easter & Summer
vacation. Subsistence will only Apply to university for Access
be paid during summer vacation Fund to pay for laptop/living
following a financial - young costs
person will be encouraged to
find suitable employment
Lone parents & Sick & Disabled
who are eligible for welfare
Advice in finding vacation benefits will recieve a special
accommodation if studying support grant similiar to the
outside London maintenance grant.
This group of students should
check with the Department of
Lone Parents & Students who
Work & Pensions as taking out a
are eligible for welfare benefits
student loan may affect their
will not recieve the
benefit
Accommodation & living
expenses grant.
*See aCached sfe guide
NE
W
20
University
18
/1
9
The complete guide to
student
finance
Tuition fees:
the basics
Stressed about being saddled with thousands of
pounds’ worth of debt? We get to the bottom of
tuition fees – it might not be as bad as you think…
Tuition fees are currently limited to
£9,250 a year, a rise in line with inflation
from the previous maximum of £9,000
per year. On paper, this seems like a large
amount of money – and it is – but a lack
of money shouldn’t stop you going to
university. In fact, most students won’t
have to pay fees up front and there is a
wide range of support available, too.
Just to make things really confusing, there Should I choose a degree course with remaining amount owed is written off
are quite a few differences in what you lower tuition fees? (30 years after you graduate for English
pay throughout the UK. As tempting as it is, choosing a course and Welsh students).
with lower fees may not make much
● If you’re English: up to £9,250 per or £9,250 per year in England, Scotland difference when it comes to what you Tuition fee loans eligibility
year when studying in England, Scotland and Northern Ireland. Regardless of pay back. This is because your annual In order to qualify for a tuition fee loan,
Northern Ireland or Wales. It may be more where you study, you’ll receive a non- repayments will depend on your salary, you need to be studying in higher
for a privately-run university or college. repayable fee grant for £4,800 and can rather than the amount you borrowed. education for the first time and be under
● If you’re Scottish: free if you’re apply for a loan to make up any shortfall. Whether you choose a course that the age of 60 at the start of the academic
studying in Scotland; up to £9,250 per ● If you’re Northern Irish: up to £4,160 costs more or less than £9,250 per year, year. Students undertaking full-time
year in England and Northern Ireland; per year for studying in Northern Ireland, you’ll repay the same amount each distance learning courses do not qualify.
or £9,000 in Wales. or £9,250 per year in England or Scotland month – although it will take longer
● If you’re Welsh: up to £9,000 in Wales, and £9,000 in Wales. to pay it back. On top of that, many
students won’t have repaid the full
amount of their loan by the point the Useful resources
Student view: • Student loan repayment calculator
Fees aren’t putting me off university • Interactive quick start guides
“Tuition fees are quite expensive, but it doesn’t put me off learning. I have most TOP TIP • What Parents need to know
of my financial support in place, but I will hopefully get a job to bump up my Tuition fee loans are also available to • Student Finance England
spending money, as well as opening a savings account where I’ll put in half of Masters students, and those taking a • Student Finance Wales
what I earn. This way I can make sure I have enough to pay bills and buy food, second degree in a science, technology, • Student Awards Agency Scotland
but also have money that I can spend on the fun stuff, like clothes and going out.” engineering or maths (STEM) subject. • Student Finance Northern Ireland
Lauren Savage - preparing to start a performing arts degree
2 3Student loans
Deadlines for applying
The deadlines for tuition fee loan and
maintenance loan applications depend DID YOU KNOW?
and finance on where you live, rather than where you
study, and range from mid-April to the
end of June.
• Student loans don’t go on credit files.
• SLC doesn’t employ debt collectors and
you can’t lose your home if you don’t pay.
Not sure where to start? With a bit of organisation, Make sure you’ve completed your • If you don’t start making repayments you
funding application in plenty of time could receive a penalty or be prosecuted.
navigating your way through the world of student finance
to receive your first instalment by • You still need to repay your loan if you
doesn’t need to be as complicated as it may seem. September. However, if you do miss the move overseas.
deadline you can apply up to nine months • Your student debt will only ever apply
Student finance explained How maintenance loans work after your course starts. to you and can’t be passed on to anyone
Most students planning to go to university This helps support students with living else.
can borrow money to pay for their fees expenses while at university, such When do I have to repay my loans? • There’s no penalty charge for repaying
and living costs. The amount you receive as accommodation, food and course It may feel daunting to think about your student loan back early if you
will depend on your household income, materials. repayments, but student finance loans choose to.
where you live and what you study. only need to be repaid once you’ve
What is it based on? finished or left your course and are
The student finance package includes: The loan you receive takes into account earning more than £25,000 a year, £2,083
where you will be studying and how much a month or £480 per week (this has been £1,750 from that month’s salary. If you
1 Tuition fee loan: A non-means tested
(not dependent on household income)
loan, available for UK or EU full-and part-
your parents earn, amongst other factors.
Many students will not receive the full
amount outlined below, meaning either
frozen until at least April 2021).
You pay interest on your loan from the
day you receive it until the loan is fully
go on to earn less, your repayments will
automatically stop.
While the loans do accrue interest,
time students (see page 2 for eligibility you, or your parents, should be prepared paid or written off. The level of interest any outstanding debt still owed after 30
requirements). to make up any financial shortfall. depends on the current UK Retail Price years in England and Wales is written off,
Index (RPI). If you leave or suspend your meaning it’s not always worth paying
2 Maintenance loan: A means-tested
loan for full-time UK students to help
cover living costs, such as rent, food,
How to apply for loans
If you are a student from England you can
apply for student loans and grants online
course, you’ll still be expected to repay
any loan money you received.
back a loan early. Student loans won’t
appear on your credit file either.
It’s important to keep track of
books, travel etc. by visiting the student finance section in How do I pay it back? your repayments through P60 forms
GOV.UK. Students from Wales, Scotland You don’t physically hand any money over and payslips or by logging onto
3 Advanced learner loan: A non
means-tested loan available to
students aged 19 and over, studying
or Northern Ireland can use the links in
the resources box on page 3. Get your
application in early – you don’t even need
– your employer takes 9% of your income
above the £25,000 threshold through the
UK tax system (Pay As You Earn - PAYE).
www.studentloanrepayment.co.uk.
If you are just a few years away from
paying it off, you can set up a direct debit
eligible courses from Level 3 (A-level to wait until you receive offers back from If you are self-employed you will pay it to avoid being overcharged giving you
equivalent) to Level 6. universities to get this started. back via HMRC’s self-assessment scheme. more control over your money.
The amount you pay back is calculated on
your pre-tax income above £25,000 and How much will I actually pay?
Where are you living and studying? Maximum maintenance loan
will be taken after you’ve paid tax. To give you a quick idea, if you are
Living with parents Up to £7,324 If you usually earn less than this, but earning £29,000 a year, you are £4,000
Living away from home outside of London Up to £8,700 bonuses or overtime take you over this over the repayment threshold. You will
amount, the Student Loans Company pay 9% on this amount, which is equal to
Living away from home in London Up to £11,354 (SLC) will still take 9% of anything above £30 a month.
4 5Bursaries and
scholarships
Scholarships and bursaries may be offered on the
basis of your academic abilities, household income,
or a combination of both. Here’s the lowdown…
How much you receive varies depending needs confirmation that:
on the university, but the money doesn’t ● You have applied to Student Finance for
have to be paid back (unless you decide to income-assessed support
leave your course early) and payments go ● The chosen university is stated on your
directly into your bank account. The money application
could be used to help pay towards tuition ● Your household income has been verified
fees, books, equipment, childcare and by Student Finance
travel, and funding may last for one year or ● You (and your parents or partner) have
the duration of your course. given their consent to Student Finance to
share information with the university.
What’s the difference between
a bursary and scholarship? Am I eligible for a bursary or ● You are living in a hostel or shared year or year abroad.
The terms ‘bursary’ and ‘scholarship’ are scholarship? accommodation ● Students who are paying reduced rate
interchangeable across universities, but You may be eligible for a bursary or ● You have been successful in your tuition fees.
scholarships tend to be different in that scholarship if you fall under one or more of application for an advanced learner loan.
they are competitive (and often supported these criteria: How likely am I to receive an award?
by donors). Bursaries are usually non- In some cases bursaries may not be This depends on whether you meet the
competitive, automatic and based on ● Your household income is less than available to: criteria or not. Any university or college
financial need, and may be described as £25,000 ● Part-time students in England offering degree courses
‘awards’. ● Your household income is between ● Post-graduate students with a £6,000+ price tag has to offer
£25,001 and £42,611 ● NHS-funded or sponsored students bursaries, summer schools and outreach
How likely am I to receive funding? ● You are under-represented, for example, ● Students on placement years/sandwich programmes to encourage applications
In order to be considered, the university have UK Refugee status or live in an area from students from all backgrounds.
with low participation of young people in
higher education Expert view:
TOP TIP ● You have a disability, or a long-term Investigate university department funds
Contact your university directly to find out health condition for which Disability Living “Not all awards may be administered centrally, and so some departments may have
what it is offering for the current academic Allowance (DLA) is not available funds, scholarships or bursaries which central funding teams, are not necessarily aware
year. Find out more about what’s available ● You are working or studying away from of. To make sure that students maximise their student income, they should ensure
here: www.which.co.uk/extra-funding- the university that they check with their department whether there are any such locally managed
university ● You have come from a care background schemes which they may be eligible to apply for.”
● You are caring for an adult or children Jon Lightfoot - Acting Student Funding Manager, Bristol University
6 7Other funding to help Expert view:
Hardship funds
you at university “We try and engage with students
to find out why there is a reason for
them having financial difficulties.
Most unis and colleges offer some sort of For example, students who are
commuting back home to London
financial assistance that you won’t have to pay
every weekend to support a parent
back. Here are some options you may not have who is ill. A standard assessment
thought about… won’t always reflect exactly what
is going on for that student and
Fee waiver investigating further allows us to
This covers all or some of a student’s TOP TIP look at what is really happening and
tuition fees and may be given by a If you’ve been in local authority care you offer the best advice..”
university or college alongside a bursary may be able to apply for a one-off bursary James Pooley - Student Welfare Service,
in one package of support. Students won’t of up to £2,000 from your local authority, University of Leicester
receive a cash lump sum – instead they university or college.
will be given a reduction on their tuition How to apply
fees, meaning the loan needed is less or You will need to fill out an application form TOP TIP
does not need to be paid back. However, It could be that you suddenly have less from your university or college. In most Universities and colleges will usually
as many students will never pay off their money coming in, there are unexpected circumstances only students who receive contact you about financial support as
full student loans, this might not be as costs or you have to pay a very large loans or grants from Student Finance can they are given information from your
generous as it first seems. bill. Some universities will also consider apply. Priority is given to students with application to see what finance you may
specific additional bursary funding for children, those in their final year or those be entitled to. This is why it’s important to
How to apply certain students, such as care leavers or who are unable to work due to illness or provide your correct details and consent to
The application process is based students who don’t have any contact with disability. share your information.
on similar criteria to bursaries and their parents. In other cases, there may be
scholarships; information is passed on to charitable funds which award money or Other government grants
your university as part of your Student vouchers that can go towards things such and financial support students only), Child Tax Credit, Disabled
Finance application. as IT equipment or vouchers. There is a wide range of extra support Students’ Allowances and a range of other
You may also be able to apply for a small available from the government if: disability-related benefits. You can find
University hardship funds interest-free short-term loan if you need ● You’re on a low income out more about whether you are eligible
Hardship funds are designed to help urgent assistance for essential living ● You have children or dependant adults for benefits and grants by visiting
you if you’re having financial problems costs until you receive your next funding ● You have a disability www.gov.uk/student-finance/extra-help
while you’re studying or before instalment. ● You are studying medicine, social work
arriving at university. They are also or teacher training
referred to as: ● You’re studying abroad. Useful resources
TOP TIP • Scholarship Search
● England: Access to Learning Fund In some cases the students’ union will run This financial support could include: • Uni Grants UK
● Wales: Financial Contingency Funds its own smaller funding scheme, which is Income Support, Childcare Grant, Parent’s • Nasma
● Northern Ireland: Support Funds also worth checking out. Learning Allowance (full-time students • British Council Guide to Scholarships
● Scotland: Discretionary Funds only), Adult Dependants’ Grant (full-time
8 9Parents and
finance: Q&A
Understand how your parents can help you apply for
student finance, with answers to some of the more tricky
questions surrounding this area.
Should my parents take a loan out of any taxable state benefits, pensions
on my behalf? or any income from UK and foreign
This is nearly always not a good idea, as investments.
it’s likely to be the more expensive option. Disability Living Allowance (DLA) are calculator, in our budgeting section (see
Interest rates on student loans are still low If I have a brother or sister at uni at the not counted as household income, pages 12–15)
in comparison to other loans on the market. same time as me, does this affect what so this shouldn’t affect what you receive.
Remember, your tuition fees do not we’ll each receive? Can my parents help me repay my
need to be paid upfront, with your tuition Yes. Your parents’ assessment for total What happens if my parents’ financial loans earlier?
fee loan taking care of this, while the household income will receive a reduction circumstances change while I am at uni? Loans gain interest from the day they are
maintenance loan will help towards of £1,130 from Student Finance England. Your entitlement is based on your parents’ issued until the day they are paid or written
your living costs. For example, a family with two dependant household income for the previous tax off (currently after 30 years). Once you have
children at university and a household year. So, an application for finance for left university, the loan will gather interest
Do I have to give proof of my parents’ income of £58,000 will be considered to September 2018 will look at your parents’ depending on how much you earn.
household income? have a household income of £56,870. income for the tax year 2016/17. However, If your parents want to cut down the
You don’t have to. The tuition fee loan This reduction could push your parents if their household income is at least interest your loans are accruing, then
is non-income assessed, and so is part into a lower household income bracket, 15% less than it was in the previous tax they may wish to make a contribution.
of the maintenance loan. You only need to meaning you and your sibling(s) receive a year, they can apply for a Current Year However you should weigh up whether
provide details of your parents’ household bigger maintenance loan. Income Assessment. This will review their you are likely to pay off the full amount
income if you wish to apply for the maximum expected income for the present tax year. before the write-off period. If you reduce
amount of maintenance loan available. My parents are divorced. How does your debt sooner than actually necessary,
this affect my finance application? Will my student loan be enough to you may end up paying more back than
What do my parents need to If you’ve applied for income-assessed support me financially? you actually need to.
provide for my application for support, you will be asked to give With accommodation, course and living
income-assessed support? the financial details of the parent you costs to manage, you’ll probably find the
This depends on their circumstances, ‘normally live with’. If that parent is maintenance loan alone won’t be enough.
income and the number of child married, in a civil partnership, or living Some parents will be able to make up the
dependants they have. with a partner, that partner will also need shortfall in loan by contributing money TOP TIP
If they need to provide proof of to provide their details. towards their child’s living costs. However, if Support yourself by finding part-time or
earnings, this could take the form of a: your parents are unable to help financially, holiday work – good for your wallet and
● P60 or Self-Assessment tax return My parents receive disability benefits. you will need to plan your budget for uni your CV. Head to www.which.co.uk/
● National Insurance number Will this affect my finance application? carefully. Find some top tips on how best part-time-job for some tips.
They will also have to provide evidence Any tax-free state benefits such as to do so, alongside our student budget
10 11Student budgeting
Other universities encourage it, saying it
helps students improve their employability
and will run ‘jobshops’ to help students find
work. It’s worth considering when you can
Worried you’ll splash the cash the minute it hits your earn up to £11,850 tax-free (sadly, students
account? Most students struggle with their finances at some don’t get out of paying Income Tax and
point, so set a budget to help you manage your money. National Insurance).
What to include in your budget
Once you get your loan it’s tempting
to head straight to the shops, but
3 Food It’s a myth that students live
off baked beans – It’s possible to eat
normally and healthily, whatever your
Student bank accounts
Banks are keen to sign you up now as
a student to hopefully keep you as a
you’ll regret blowing your budget in budget. To keep costs down, make a there is always the chance of theft. Tot up life-long customer. That’s why attractive
the first week. Use our student budget shopping list and stick to it, cook in bulk the cost of your stuff and get some quotes incentives are often on offer, including
calculator (see page overleaf) to help you and freeze, and make packed lunches for online - and check if you’re covered as part free or discounted railcards, cinema
understand how to manage your money. cheaper meals on the go. of your parents’ home insurance policy. tickets or vouchers.
Your biggest expense will most likely be See these as perks rather than the main
your accommodation. However there are
plenty of other costs you might not have
necessarily factored in yet. Our top 10
4 Entertainment From freshers’ week
to clubs, student nights, gigs, sport or
a quick catch-up with friends at the union,
8 Toiletries Make the most of special
offers and value brands and check out
pound shops for good deals.
reason you choose a particular account. If
it’s likely that your outgoings will exceed
your income at some point during your
are below... the cost of socialising can soon mount studies, it’s worth looking for the one with
1 Course materials Try second-hand
book sales, joining student Facebook
up. The student union is your best bet for
cheaper food and drinks. Consider nights
in with housemates, free events or two-
9 Clothes You can save money by
making the most of student discounts
(and check out sites such as MyUniDays).
the highest overdraft available.
Overdrafts can come in useful if you’re
short one month, especially as most
groups, buying earlier editions of text for-one cinema nights. You will also get extra discounts and student overdrafts won’t charge interest up
books or getting your books from the money back through cashback websites. to a certain amount. It’s not ‘free money’,
library.
5 Utilities If you’re in halls of residence,
utilities such as gas, electricity and
Or try clothes swapping via websites such
as Vinted, or host your own party!
but can help to tide you over financially
until you have more money coming into
2 Transport Whether it’s a bus to
lectures or travelling back home
for the holidays, you’ll need to factor in
water are usually included as part of
your rent, but that won’t normally be the
case in private housing. You’ll need to 10 Extra study expenses
Printing, photocopying and
your account. Just remember that after you
reach this limit you will have to pay interest
on top of the money you’ve borrowed.
travel costs. Luckily, student travel cards put some money aside each month to buying stationery – the little costs can add Compare the latest student bank account
reduce the costs of getting around by up cover these. Online deals are usually the up, but there are ways to keep them to a offers at www.which.co.uk/studentbank
to a third, including: 16-25 Railcard, 18+ cheapest, plus you’ll get an extra discount minimum. For example, is it worth buying
Student Oyster Photocard and Young if paying by direct debit. a printer? (you can get a decent budget
Persons Coachcard. one for under £50). TOP TIP
6 Internet This is another cost you
usually won’t have to pay for in halls,
but it will be a factor in private housing.
For more detailed advice on student
budgeting visit: www.which.co.uk/
student-budgeting-10
If you don’t meet your repayments each
month, credit cards and store cards
increase the debt that you have to repay.
TOP TIP Compare deals to get the best quote for Aside from getting the scissors out to
Try our Student budget calculator to broadband and installing a landline or cable. Getting a part-time job get rid of temptation, speak to your
uncover the true cost of uni, read more Some universities discourage students university’s finance support team for
on pages 14-15.
7 Insurance As tempting as it is to cut
costs and not bother with insurance,
from taking on part-time jobs (such as
Oxbridge), but for many it’s a necessity.
advice on managing your money.
12 13Student budget
Calculating your costs
The student budget calculator
is an easy-to-use tool which
calculator reveals the average cost of
living at university and allows
you to personalise your budget.
Use our calculator to find out the true cost of university Give it a go: which.co.uk/
studentcalculator.
Ways to pay for uni
Don’t panic, remember to keep
an open mind when looking at
the cost of living across different
universities. Don’t forget about
these sources of financial
support at uni:
● maintenance loan
● bursaries/scholarships
● part-time job
● parents’ contributions
● other family contribution
● savings
Expert view:
Keep the cash flowing
“Our advice to students – in
addition to planning a budget – is
to look at the dates when your
funding is paid as the instalments
are not always evenly spread out
Once you get to university and you’re Did you know these average uni over the year, and plan a weekly
fending for yourself, you might be monthly costs?* spending limit.”
surprised how much a shopping basket of ● Transport = £83 Tuition Fee Team,
essentials or a water bill actually comes to. ● Food shop = £67 Student view: University of Central Lancashire
● Interests and hobbies = £36 How I budget
To help you start planning your student ● Water, gas and electricity = £45 “I was surprised how little the student
budget, we’ve done the maths to show ● Takeaways and snacks = £24 loan covered and how I always *All other data: Living Costs and Food Survey
you what the biggest living costs are for needed outside help and savings to (2012, 2013, 2014 and 2015/16) from the Office
the average student in the UK (plus Our calculator helps you figure out how for National Statistics, showing the median
cover all the costs.” expenditure for students in the UK, with figures
those extras that may creep into your much living at uni will roughly cost you Lizzie Roderick - Final Year Criminology adjusted for inflation and omitting those who didn’t
bank statement). per month, across universities. student, University of the West of England spend anything on a particular cost category.
14 15University Which? University university.which.co.uk @WhichUniUK WhichUniversity WhichUniversity For more in-depth advice on all things student finance, head to www.which.co.uk/student-finance-advice
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