#Students have always moaned about money, #but these days average debts run into thousands of pounds on graduation. #There are, however, three things you can do about it, #apart, that is, from scream, panic and cry. #The student grant is split into two parts: the mandatory grant which most European students are entitled to claim and the discretionary grant which is less easy to get. #Students should apply for both before starting their course by filling in a form from the local education authority. #The mandatory grant pays for the teaching fees only, but, unfortunately, the student never even gets to see the cheque which is sent straight to their university. #Meantime, the `discretionaryÆ grant depends on what other money you may have available. #For most students that means if their parents earn too much, they get the big zilch or less than the full grant. #The parents are expected to cough up the rest. #This grant is about ú2,000 at the moment and is supposed to pay for rent, food, beer and everything else. #In addition to the grant, undergraduates are entitled to borrow a loan from the Student Loans Company at a low rate of interest. #Accommodation is probably the biggest expense in any studentÆs budget, but it can vary from university to university between about 25 and 65 pounds #and then thereÆs food, clothes, bills, travel, books and study costs like pens, papers and computers #- all of which may vary depending on your course... #... and, being realistic, students all spend at least a few quid a week on entertainmentÆs. #Your choice of university might be affected by these costs #- they can swing like a pendulum on speed. #Once youÆve got your money, budget your weekly costs and plan for big bummers like rent deposits, Christmas presents or bail money. #Open a bank account so that if you find youÆve already spent your grant, your student loan #and everything your parents have given you, at least you can borrow some more. #Try to supplement earnings by maybe doing some part-time work at the student bar. #But remember, jobs will swallow study time and, at some universities, #itÆs easier to find a pregnant camel than paid work. #ThereÆs no avoiding the fact that your first term will probably be your most expensive. #It costs money to find your feet. #If you do find yourself in difficulty, get advice from the studentsÆ union, #the welfare department or your bank before it all gets out of hand. #The best way of keeping your readies steady is to get sorted when you get started. #And since forewarned is forearmed, the next presentation arms you to the teeth for your first weeks at university.
