Thinking about university

Guide to higher education

Money Management

Budgeting, loans and living costs are all words you’ll hear associated with University.

When it comes to making the choice to go to university, the cost is high on the list of things to consider. It is important that you know what to expect to that you are not surprised by how much things cost, and you also know what your budget is.

Living costs are often dependent on your personal choices and preferences. They can include rent, utilities, food, course materials and socialising and are largely funded via the means tested Maintenance Loan. The amount you receive for this will depend on your circumstances but it can be supplemented further by part time employment. 

There are lots of funding packages available to support you through your studies and once you have graduated, the repayments are kept very low and are linked to your salary to make them manageable. You can get a more accurate picture using the GOV.UK student finance calculator.

A good place to start when thinking about your money management is to get to grips with how much your typical living costs will be and how this compares across the UK. Take a look at our helpful resources on groceries, utlities and night life below.

Downloads and useful links

Next Steps