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Congratulations on your offer – welcome to Kingston University!

Financial advice for home students

All that time and all that freedom, all those things for you to explore, the future is yours. There are shops, bars and clubs to visit. But the good times cost, and right now is where you start planning.

Store it up

You may think you've got it all under control... If you'd rather not have to eat supermarket-value cornflakes until Christmas or use the roughest loo roll, it helps to have a bit of money stored up, just in case.

Part-time work

Time is money so part-time work could be the way forward. You'll be able to save some money just in case things don't go according to plan at the start of term. Plus working part-time ultimately makes you more desirable (in employability terms).

Student Finance

Ideally you need to have submitted your application to Student Finance by the end of May (or even earlier if you live in either Wales or Northern Ireland) to guarantee payment at the start of term. When your assessment has been finalised you will be sent a notification letter and will need to check online to find out when your payments are due. Check with Student Finance that you have been income assessed. If you have not been then you will receive the minimum amount of funding only.

Contact us if you are having any difficulty with understanding your entitlement from Student Finance, or if you are not sure whether you have been assessed for all possible funding. Our direct phone number is 020 8417 7312.

Make sure that you sign and return the declaration form which Student Finance will send you. This is the loan agreement and Student Finance will not release any loan money until they have your signed acceptance of the terms and conditions.

Student loan not arrived yet?

There are a variety of possible reasons for this. Before your loan is released to you, the following should have happened:

  • Your student finance assessment has been completed and confirmed on your Student Finance England online account.
  • Student Finance England has received and processed your signed 'Declaration'.
  • You have attended your face to face enrolment as part of your course induction during Welcome Week here at Kingston University.
  • Automatic confirmation has been sent to Student Loans Company. This will happen automatically once you have fully enrolled on your course.
  • Student Loans Company has released funds to your bank account. This can take between three and five working days.

Please note:

  • If your Student Finance England application was originally made in the name of Kingston University, you do not need to present any Student Finance paperwork at enrolment.
  • If you have a letter from Student Finance stating that your University is something other than Kingston (this will apply to you if you came to us through Clearing) you will need to come and see us at the Student Life Centre (ground floor John Galsworthy building, Penrhyn Road campus) with your letter and we will be happy to help.

Banking

Ask your bank about opening a student bank account or transferring your existing account to a student account. Most student bank accounts come with an interest-free overdraft facility which means that your bank will allow you to use up to an agreed, fixed amount of their money, interest-free, whilst you remain a student, provided that you do not abuse the facility, by going over the set limit. Try to keep this back for emergencies only. If you are able to repay it before you complete your course then you will never have to pay interest on it.

Budgeting

Below are three sample budgets to give you an idea of likely costs. Bear in mind that costs can vary, and vary even further depending on your own choices and lifestyle.

Example income Example expenses when
living in halls (40 weeks)
Maintenance loan
£10,702
Halls fees (average cost only)
£5,400 (£135 p/w)
  Food
£1,600 (£40 p/w)
  Books/course costs
£500 (variable depending on type of course)
  Laundry
£200
  Visits home (based on five per year, costs variable)
£250
  Mobile phone
£400 (£10 p/w)
  Non-essential spending such as clothing and socialising
£1,600 (£40 p/w)
TOTAL
£10,702
TOTAL
£9,950
Example income Example expenses when
living in rented accommodation
Maintenance loan
£10,702
Rent
£4,800 (£120 p/w)
  Food
£1,600 (£40 p/w)
  Utility bills
£800 (£20 p/w)
Broadband
£280 (£7 p/w)
Books/course costs
£500 (variable depending on type of course)
  Visits home (based on five per year, costs variable)
£250
Travel to university
£600 (£15 p/w for weekly bus pass)
  Mobile phone
£400 (£10 p/w)
  Non-essential spending such as clothing and socialising
£1,600 (£40 p/w)
TOTAL
£10,702
TOTAL
£10,830
Example income Example expenses when
living with parents
Maintenance loan
£6,904
Suggested contribution to household:
£1,000 (£50 p/w)
  Food
£1,600 (£40 p/w)
  Books/course costs
£500 (variable depending on type of course)
  Travel to university
£1,600 (£40 p/w, costs variable)
  Mobile phone
£400 (£10 p/w)
  Non-essential spending such as clothing and socialising
£1,600 (£40 p/w)
TOTAL
£6,904
TOTAL
£6,700

The money you will receive from Student Finance will be paid to you three times a year, at the start of each term, whilst your outgoings (eg rent and bills) may need to be paid every month. You need to manage your finances to ensure that you meet your priority expenses. Once you start your course we can help you to draw up a budget and plan your spending so that you avoid unnecessary stress later on in the year.

If you have a smartphone, check out your App Store for budgeting apps – the best ones are free and can help you keep a check on your spending so you don't find yourself short of cash when you need it.

Contact us

Kingston University
Tel: +44 (0)20 8417 9000

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