Student finance

Tuition fees

Tuition fees are likely to be your biggest cost. These fees are paid direct to your course provider, and can vary depending on where you study and what course you take. 

Flummoxed by finances? Ask your family and friends

For many students, going to university offers the first chance to live away from home. Exciting times but daunting too: so why not ask family and friends for their advice from time to time.

Don’t be afraid to ask for help.
A recent study has shown that young people are more likely to turn to parents for financial advice than anywhere else – by a long way! (52% would go to parents; only 24% would go to a bank.*) Your friends and family know you, understand your situation, and can offer practical ‘workarounds’. For example, knowing your lifestyle as they do, your parents may be able to think of ways that you can budget, saving money in some areas whilst freeing up cash for other expenses.
That’s not to say that you can’t seek independent financial advice: sometimes the recommendations of someone who doesn’t know you so well can have their own advantages. The most important thing is to make sure you ask for help if you need it.

Remember, there are other options.
For some, falling back on family isn’t an option – but that doesn’t mean that there’s no other support network to draw on. As well as advice, many banks offer an interest-free overdraft facility, meaning that you can go over your budget without having to pay additional fees. However, remember that – as with all borrowing – you’ll have to pay this back, so this is not an option to be used lightly. Better to budget carefully and stay within your m

Graduation and beyond

You’ve graduated: what next? Well, there are more exciting things to think about than paying off your student loans, so don’t let that slow you down – though you’ll want to consider your finances sooner rather than later.

The good news is that graduating doesn’t mean you’ll lose all your student-banking perks. You may have an interest-free overdraft for an extended period (up to three years with some). Over time, this will be lowered, encouraging you to repay your debt in stages as your income improves. Despite the fact that you’ll most likely have graduated with some student debt, you’re an attractive customer because you’re qualified and job-ready.