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Managing money
Managing money
You may be experiencing financial difficulty already at this point or anticipating financial hardship during the foreseeable future. There are some actions that you can take to alleviate your problems or reduce the severity of them. Existing debts such as credit cards and commercial loans. Speak with your lenders to see what help that they can offer to you. This might be a payment holiday on some amounts or a pause in payment for a period. The key is to check your lenders website and speak to them about how you can manage your money. Mortgages and Rent: If you are struggling, speak to your lender or landlord at the earliest opportunity. For students with Mortgages you may be advised
to switch to an interest only mortgage for a period to cut down on your outgoings. Banks and mortgage providers are reacting to the current situation and depending on who your lender is you may be able to get some relief from your mortgage expenses. For students who rent it is always best to have an open dialogue with your landlord/ agency/council about what deferments of payments they can allow. The situation for private tenants is likely to develop with suggestions of additional measures being put in place to support renters during the period when the Coronavirus is likely to be having an effect on tenants. If you are facing eviction or you are struggling to manage your finances and you need
additional advice or guidance please contact the Students’ Union Advice Centre. Additional support can be sought from the housing charity Shelter england. shelter.org.uk/get_help Looking for additional funding: The University has a Hardship Fund that students can apply to if you are in financial hardship. Not all applications to the fund will be successful. To apply for the Bucks Hardship Fund please contact the Students’ Union Advice Centre by emailing suadvice@Bucks.ac.uk. If you could ensure that you send your name, contact phone number, ID number, and a time and date you would prefer to have the appointment at. Following the interview a form will be sent to you via email that you can complete on your computer. You
The Bucks Student lite edition 1
By Tim Dixon
