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Financial problems [Uni]
Former Member
Posts: 1,876,323 The Mix Honorary Guru
I'm at uni and in my third year of a four year course and financially I'm not sure if I'll be able to last this semester.
The money that I get in terms of a student loan isn't anywhere near enough to cover my expenditure. Close to 75% of what I get a month goes on just getting to uni each week. I've looked at my spending and I see no real way to cut it.
I can't cut travel costs as they're out of my control (train and bus). I don't drink, smoke or gamble so can't cut anything there. I don't have much of a social life and spend most of my evenings inside the house. I live at home so can't cut anything in terms of buying food or utilities. I don't buy lunch out often and take my lunch into uni with me most days.
I can't get any money from my mum and dad. They already cover my food and don't take money from me for rent. They only have one (not very large) wage coming in just now and are struggling themselves to get by.
I've spent most of the year trying to find a part-time job. However, they're either too far away and I'd end up spending almost all my wages getting to them, or their recruiting for when I have classes or they're looking for in excess of 22 hours a week (which is far too many on top of my degree). Those with suitable hours I apply for and either don't hear from them or if I'm lucky enough to get an interview I'm then "unsuccessful". I suspect that's just down to the wider economy, I have a good work history.
In terms of overdraft I have the maximum that the bank say they will authorise me to have and I'm getting rather close to that limit. I have no savings having spent what little I had saved just trying to keep myself at uni.
I'm applying to the uni for money from the hardship fund (something I really didn't want to do), but I'm worried that even this won't see me through. Even if it did last me until the Summer if I was still not getting a job (which after 18 months of looking is quite likely) for over the summer then there is no way I'd be able to return to uni and complete my degree.
So, yeah, just wondering if anyone had any suggestions.
The money that I get in terms of a student loan isn't anywhere near enough to cover my expenditure. Close to 75% of what I get a month goes on just getting to uni each week. I've looked at my spending and I see no real way to cut it.
I can't cut travel costs as they're out of my control (train and bus). I don't drink, smoke or gamble so can't cut anything there. I don't have much of a social life and spend most of my evenings inside the house. I live at home so can't cut anything in terms of buying food or utilities. I don't buy lunch out often and take my lunch into uni with me most days.
I can't get any money from my mum and dad. They already cover my food and don't take money from me for rent. They only have one (not very large) wage coming in just now and are struggling themselves to get by.
I've spent most of the year trying to find a part-time job. However, they're either too far away and I'd end up spending almost all my wages getting to them, or their recruiting for when I have classes or they're looking for in excess of 22 hours a week (which is far too many on top of my degree). Those with suitable hours I apply for and either don't hear from them or if I'm lucky enough to get an interview I'm then "unsuccessful". I suspect that's just down to the wider economy, I have a good work history.
In terms of overdraft I have the maximum that the bank say they will authorise me to have and I'm getting rather close to that limit. I have no savings having spent what little I had saved just trying to keep myself at uni.
I'm applying to the uni for money from the hardship fund (something I really didn't want to do), but I'm worried that even this won't see me through. Even if it did last me until the Summer if I was still not getting a job (which after 18 months of looking is quite likely) for over the summer then there is no way I'd be able to return to uni and complete my degree.
So, yeah, just wondering if anyone had any suggestions.
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Comments
Is there anyway you could move somewhere closer for uni?
As far as jobs are concerned, I am not fussy. I've applied for everything and anything: cleaning, nightshift, call centre and shops to name just a few.
You get more loan if you live away from home during term time.
That's true, but then in the long run you just end up owing more in debt which isn't so good.
Have you seen if your union has a student job section? My old uni had a "job shop" advertising jobs that were less than 16 hours a week and suitable for students either within the uni/union or down in the city. It may be you could find one that fits in after lectures so you don't have to do extra travelling?
For people who graduate on moderate incomes it makes precisely no difference. It's better to owe a little bit more on your student loan- something which is repaid at a low level over many years, effectively interest free- rather than dropping out of your course or borrowing money from Wonga.
To the OP, if you cannot find work and you cannot find money from family, then the Access to Learning Fund will be your only option. They will expect to see details of your income and your expenditure, including bank statements, and will give you money for a proportion of any shortfall you have between your income and your expenditure. How much you will receive will depend on which university you are at and what the demand for ALF is. ALF can be paid as a grant or, if they think you are culpable for your own financial problems, as a loan to be repaid after you graduate.