The Affordability Factor- is University out of my budget?
University is no doubt a life-changing experience but it’s also a huge milestone in your life that comes with all kinds of commitments! But you shouldn’t fret, because University is such a big commitment, there’s plenty of financial support you can get from the loans, bursaries or scholarships (and every now again the parent bank).
Whichever student loan company you’re applying to, pay your tuition fees directly to the University and give you a maintenance loan (more or less for the cost of living). You start to pay back your student loans as you begin working; the Student Loans Company actually tracks your earnings and alerts your employer once you are eligible to start paying. Your company then deducts the correct amount and pays it on your behalf.
Having a part-time job is not only another source of income but you also gain experience which will be important for building your CV and your ability to balance study with work life. The great thing is there are many part-time jobs available to students; if you want a job with many hours you can check online there are quite a lot of shops in the city centre. So there are plenty of retail opportunities and loads of bars and clubs which tend to employ students or if you want a job with more student-friendly hours the University also issues a list of all available part-time placements and jobs. I was sent an email by Northumbria advertising the Hubstar position I replied with my CV, the process was super-easy and convenient. The Students’ Union is a very big employer on campus and recruits students for cafes and other venues that they run.
And the cost of living of course, is different depending on the location of the University or the location of the city/town. I strongly recommend doing some research, during my research I actually found out Newcastle is among one of the student friendly Universities in terms of affordability. With plenty of shops and local markets I have a choice to pick where is the cheapest place to buy my weekly groceries, things such as student discount like a NUS card and UniDays also give you great discounts on pretty much every store from Apple to Topshop to Morrisons! Newcastle’s large population of students’ is also great because every now and then the shopping centre dedicates massive sales to the fellow students.
To wrp it all up, University is definitely an investment for your future and with it you will gain experience and as much financial support as you possibly can. University will also teach you the importance of learning how to budget your money-which I think is definitely an essential life skill.
