Preparing to start university is a hugely exciting transition stage, especially for young people who will also be moving out of their family home and living independently for the first time.
However, it can also be stressful and anxiety-inducing. There’s so much to take on board – from managing course timetables, to finding your way around a new city, to all the recreational opportunities to explore and enjoy. Most students barely think about their finances until they find themselves struggling to make ends meet or pay back debt.
It doesn’t have to be this way. Just a few tips can make budgeting easier and help you get to grips with everything from student loans to essentials vs nice-to-haves. That’s why Money Ready has launched #GetUniReady, a week-long social media campaign urging those in the know to share their tips for young people about to embark on the academic adventure of a lifetime.
We will also be sharing guidance from our expert trainers and course developers, including links to vital resources and trustworthy money-saving sites, in bite-sized social media-friendly chunks to help you make smart choices and get the most from the student experience.
We’re excited to have support from our peer charities and partners in this campaign, including upReach.
upReach is a leading Social Mobility charity that provides free 1-to-1 career coaching to ambitious students from lower socio-economic backgrounds. They believe that all students should have the opportunity to thrive at university without added financial stress, and have shared some top tips below:
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Research university grants, scholarships and hardship funds – universities often offer funding for books, travel and research, bursaries for students from lower socio-economic backgrounds and even prizes for students with high grades, sporting talents and musical abilities. There’s also support available if you hit unexpected financial difficulties, known as “hardship funds”, that you can apply to throughout your university course.
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Consider government grants and bursaries.
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Create a realistic budget plan based on your incomings (e.g. loan, maintenance) and your outgoings (living expenses, food, travel, etc).
upReach’s career support programmes are designed to help you explore your career options and achieve your ambitions – and it’s totally free. This includes providing travel reimbursements for Insight Days at top graduate employers, clothing grants for work experience, and even promoting scholarship opportunities with some employers and universities. Find out more and apply now: www.upreach.org.uk/apply-now
Look out for Money Ready’s posts from 4th-8th August, repost the ones that catch your eye and share your own recommendations using these hashtags:
#GetUniReady
#MoneyReady
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Here is some useful information to get you started:
- Budgeting for Uni? – Student budgeting tool available
- Want to save more?
- Best bank account for you?
- New to the UK?
Head to our Learning Hub for more tips and tools to help you navigate your money.