Before you start your course at Loughborough University it is important that you know how much it is going to cost you, and how you will fund your studies. You will need to know:
- Where your funding is coming from (Student loans/savings/career development loans etc)
- How you are going to pay your tuition fees
- How you will pay for your accommodation
- How much money you will have to live on each week (e.g. for food, leisure, books etc)
This may depend on whether you are a UK, EU or international student, but all students need to work out their budget and plan ahead.
Please visit our section on Managing Your Money. For information on tuition fees visit our Fees and Finance section, and we have produced a guide called Your Money Matters! Your can download and read it now.
How to budget
How you budget will depend alot on you and how you prefer to manage things.
There are lots of different ideas on budgeting, including piggybanking, a favourite of Money Saving Expert, a super simple budgeting app to help you track your spending to fancy software by YNAB (to get this software for free, email them once you have a Lboro.ac.uk email address and they will send you a link) or you might just prefer a notebook and pen to work out what money you will have, and what you spend! Click here for a simple budget sheet.
Before you get to Loughborough, we suggest you start recording what you spend and work out your pattern, There is so much help out there, just find the one that suits you and get into the habit of using it.
What type of shopper are you? This quiz may be only a bit of fun, but you need to understand where your weaknesses are and what you are likely to overspend on what you are a student!
The cost of living in Loughborough and how to build your budget!
|Click on the image to view and print a PDF version for yourself.|
You can access our full guide, Your Money Matters! by clicking this link.
Prospective UK/home students
If you are a UK Home student*, studying at undergraduate level, you may be eligible for a tuition fee loan, maintenance loan/grant, and possibly a Loughborough University bursary. Eligibility for this funding is determined by your own personal circumstances.
It is important to note that if you already hold a degree or have previously studied at HND/HNC or degree level then you will need to contact us to find out how this might affect any future funding entitlement.
You can get an idea of what you may be entitled to, by using the Student Finance Calculator. You will have to apply for your loan/grant via the student finance pages on the gov.uk website. Make sure you apply well in advance to ensure that the money is ready for you when you start.
Information regarding fees and financial support can be found on our Fees and Financial Support website. If you are unsure of your eligibility or have any other questions about applying for student finance, please contact us.
*A UK Home student is, generally, one eligible for Government Student Support. For more details click here.
Students from Wales
If you currently live in Wales and are coming to an English university then you will need to apply for your finance via the Student Finance Wales website. Rates of finance for Welsh residents may be different, and you should check on the SFW website for an idea of what you may be entitled to.
Students from Northern Ireland
Students from Scotland
If you live in Scotland you will need to refer to the Student Awards Agency Scotland website.
Prospective EU students
Students from the EU normally qualify for home fee status and can often get a tuition fee loan to pay for this. Details are available on the University Fees and Finance pages.
Some EU students, who have been living and working in the UK prior to the start of the course, may qualify for a maintenance loan and maintenance grant, as a migrant worker. The rules for migrant workers are complicated, more information can be found on the UKCISA* Website, or contact us for more information.
More important information about being an EU student in the UK is available here.
*UK Council for International Student Affairs.
Prospective International students
As an international student, you will need to know all the cost implications of studying in Loughborough University. More information can be found in the Fees and Financial Support section of the website.
Planning your budget before you arrive will help ensure that you are able to manage your money successfully without unnecessary stress or inconvenience. Please see the section on how to budget for more help.