Student finance survival guide

...and if it all goes wrong

hardship loans

If you are struggling to manage your finances at university and you think this will either effect your study or prevent you completing your course, you should contact your university tutor and student welfare officer. You may be able to apply to your university for a hardship fund to help you make it through the year. They may also be able to give you further advice on financial management.

credit cards

If you are truly struggling with money, you may wish to take out a credit card. You may be able to get hundreds or even thousands of pounds worth of credit on a credit card, however, this will start earning vast amounts of interest very quickly and you will be charged extra fees if you can't make the minimum repayments each month. If you are already in a bad financial situation credit cards can sometimes be a bad idea due to the large interest rates applied to the debt. Therefore I would only suggest taking out a credit card if it is going to be a short term solution and you know that you will be able to pay the card off in full in the near future.

postpone your study

In extreme circumstances you may wish to postpone your study for a year - or potentially longer - in order to work full time and save up money which will allow you to continue your studies. If you want to consider this option you will need to talk to you university tutor to ensure that this is a viable option. You will also need to talk to the student loans company to make sure they are aware of your circumstances.

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