We understand that money worries can be really stressful, especially while you are studying. We have various support services available to help you better manage your financial circumstances.
Student advice appointments
All students have the option to book an appointment with our Senior Student Advisors, who can offer advice on money management throughout university.
During this appointment you will be able to discuss your circumstances with the advisor and they will be able to recommend suitable financial support options or you. This could include, for example, realistic budgeting techniques and maximising income, referrals to debt advice services or help with Student Finance.
You can now book this yourself through MyAccount: How can I book or cancel an appointment with support teams using MyAccount?
Student Support Fund
LSBU also has a hardship fund, known as the Student Support Fund, which you can apply to if you have exhausted all other options. The fund is in place to act as a safety net for students who find themselves struggling financially during their studies. It can help with unexpected issues that are causing a financial burden, or short-term issues – such as assistance with moving costs, travel costs, or to cover loss of income.
The application is in two parts:
Part One: Complete a budget worksheet and upload.
Click here to save a copy of the worksheet
Part Two: Tell us in your own words about your situation and upload copies of bank statements and SFE and other grants
Once you've completed your budget worksheet, and gathered your bank statements, saving them as PDFs, you're ready to apply
Click through to apply: LSBU SSF Application Form
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All applications are assessed on individual circumstance, so amounts awarded will vary. For our advisors to make a fair assessment, you must provide the evidence required with parts completed.
Please use this Introduction Video if you need help in completing the application and provide the documents and evidence required.
There are a high number of applications for this fund and each application is assessed by the team, it is not an automated process.
Please expect to wait two to three weeks to assess (or longer during busy periods).
Our small team will get to your application as quickly as they can, so please be patient. You may also be asked to attend a Student Advice appointment to assess your application.
Part-time and Temp work
Please have a look at the services on offer through the LSBU Careers Hub platform if you would like to apply for temporary work, or if you need support with this (job searches, CV help, interview techniques etc). The team can also be contacted via email at careershub@lsbu.ac.uk
It may also be worth looking into a role as a Student Ambassador. This is a paid role, and recruitment usually takes place in the autumn. For more information, including how to apply, please see the FAQ What are Student Ambassadors?
Paying bills
Contact your back and untility companies. You can also make a list of all your bills, for example: Council tax, energy bills, child care provider, court orders, loans, mobile phone, car loan (etc), and contact each one to see what they can do to help.
Your local council will have information about Council Tax rules (for example, exemption for full time students) and also local discretionary funds.
If you are worried about paying your rent, it is important to take action quickly. Here are some resources that can help:
Student Advice Team: Our Student Advice Team can provide guidance on managing your finances, inclduing rent payments. They can help explore your options and connect your with further support.
Citizen Advice: THis organisation offers free, confidential advice on financial issues, including housing and rent issues.
Shelter England: Shelter is a charity that provides support for housing issues, inclduing rent problems and potential eviction.
Student Finance England: If you are receiving funding from Student Finance England, check if you're eligible for additional support or budgeting advice.
Find your local council - GOV.UK (www.gov.uk): Your local council's housing department can offer advice and may have financial assistance programmes for those struggling to pay rent.
Budgeting
Managing your money effectively is ket to staying on top of your finances. These websites offer useful budgeting tools and advice.
MoneyHelper: provides free, impartial advice and budgeting tools tailored to students.
Save the Student: Offers budgeting tips, student deals, and money-saving advice.
UCAS Budget Calculator: A handy tool to help you plan and manage your student budget.
For budgeting tips, please watch our Student Advice team's video.
Student Finance
Most students will fund their living costs with a Maintenance Loan from Student Finance England. This will provide you with funds to pay for rent, food and bills, and is awarded on a means tested basis. If you don’t get maximum Student Finance and your income or income of your parent/carer has dropped, you may be able to apply for more maintenance loan. To discuss this, please book an appointment with a Senior Advisor.
Maintenance loan installments are paid in September, January and April. We recommend that students set up a direct debt between accounts to ‘pay themselves’ a set monthly amount to make it stretch.
New Healthcare student funding
The NHS has new funding available for Health Care students from 2020/21, including the Learning Support Fund.
You do not need to take out a Student Finance tuition loan to get the NHS Learning Support Fund (LSF), but you need to be eligible for Student Finance to receive it.
Benefits support
Depending on your circumstances, you might be eligible for certain benefits to help with living costs, such as Universal Credit. The following resources can help you check eligibility and apply
Turn2us has lots of helpful information regarding benefits, with a dedicated section on where to get help if you are worried about money.
Citizen Advice: Provides free advice on eligibility for benefits and how to apply.
GOV.UK Benefits Calculator: Use this calculator to find out what benefits you could be entitled to.
