Get a job n Getting a part-time job will mean that you will have a regular income and it will look good on your CV. n Shops and pubs are good places to start looking for a job. n Universities quite often have jobs for students to do too n Check out student-jobs.co.uk n Remember not to let your job get in the way of your studies though.
Access to learning fund
n The Government gives money to universities to assist students who need extra support.
n Funds are usually awarded to help with living costs, childcare, travel, accommodation, household expenses, books and course equipment. n If you apply to the access to learning fund, the university will assess your financial situation and if you qualify, you will receive a non-repayable grant. n To find out more, visit direct.gov.uk.
Bank overdraft n Most student bank accounts have an interest free overdraft available. This can prove handy if you have a lot of direct debits coming out of your account before you have money coming in. n Bank overdrafts will not stay interest free forever, so make sure you know when it will be applied. n If you go over the agreed overdraft limit, you may be charged a penalty fee. n Moneysavingexpert has a guide to the best student bank accounts.
Emergency loan n If you just have a short cash-flow problem, you may be able to borrow money from your university. n These loans are usually interest-free and you can be given the cash on the same day you apply for it. n If you do not make the repayments, your university could impose sanctions on you, such as refusing yo let you continue your next year of study. n For more information, speak to the funding team at your university.
Credit cards
n Credit cards can be useful if you are purchasing something worth £100 or more because there is legislation in place which means if you don’t receive the goods, you won’t have to pay the costs. n They should only be used if you know that you will be able to pay the money back. n The main disadvantage of credit cards, is the high interest rate- usually in the region of 15-20% APR.
Ask your parents n It’s not particularly nice to have to ask mum or dad for money, especially if you are trying to be independent. n However they will probably be glad that you turned to them, rather than resorting to payday lenders n Unlike other forms of lenders, it is unlikely your parents will charge you interest and will be much more understanding if you can't pay the money back on time.