Managing your money
Page last updated: 7 April 2021
One of the most rewarding aspects of being at university is the opportunity to live independently. But when it comes to managing your money, it's important to make it last. However, if you need help or guidance with managing your money – we're here for you.
The ‘tuition fee’ covers a wide range of activities and services which are designed to support your learning. It includes the teaching sessions and access to learning facilities, but also a range of other supporting services. Since the Coronavirus outbreak, and in accordance with government advice, NTU has acted to make alternative arrangements to continue to support your learning. Visit our learning and teaching page to read about how we spend tuition fees.
Managing your money
Maintenance loans are paid termly – in three equal instalments at the beginning of each term. The Student Loans Company has provided guidance for current students on the government website.
It can be difficult to manage a lump sum of money across four months so have a think about how you will make your money last until your next loan instalment.
Here are a few suggestions:
- Divide your termly income across the number of weeks it needs to last to give yourself a weekly budget.
- Draw up a budget plan, detailing how much you will spend on each living cost.
- Set up a second bank account and transfer yourself your weekly or monthly amount so you cannot go over your budget.
- You can access Blackbullion, a free online learning platform that provides engaging, easy to use digital resources and tools designed to improve your financial literacy.
Worried about your finances
If you need some help managing your money our Student Finance Support team is here to help. They can offer advice and guidance on budgeting and money management, complex money queries, Student Finance, discuss the financial implications of taking a leave of absence, withdrawing or transferring and much more. You can arrange for 1:1 telephone appointments with our Money Advisers if you require more in-depth support.
Telephone: +44 (0)115 848 2494
COVID-19 Hardship Funds: financial support during the pandemic
We know that this is an unsettling time and you may be worried if your financial circumstances have changed due to COVID-19.
NTU has a number of hardship funds to help students who are experiencing financial hardship, and we have received additional funding from the Office for Students (OfS) to increase our hardship support for students who are in financial hardship specifically due to COVID-19.
If you are in financial hardship it’s important that you apply as early as possible, and by the deadline of the specific fund. As part of your application, it’s important to let us know if your financial hardship is directly linked to COVID-19.
We have different funds depending on your study level and fee status. Our main funds are:
|Type of fund||Who can apply|
|Discretionary Hardship Fund||UK Home Undergraduate Students|
|Postgraduate Hardship Fund||UK Home Postgraduate Students|
|International/EU Hardship Fund||International/EU (for fee purposes) Students|
Visit the Extra money for those who need it page on StudentHub to find out more about hardship funds, including terms and conditions, how to apply and the closing date for applications.
Working while you study
Many students choose to work part-time while studying, there are still plenty of job opportunities even in the current climate. Our JobShop is here to help you find a job and assist with the application process if you need support. Sign-up to Unitemps to find flexible jobs within NTU, for example our student ambassador roles which fit well around studies.
To learn more about the support available to all NTU students please visit our StudentHub.
If you’ve got a question or concern about being on campus please email firstname.lastname@example.org. Alternatively, please call +44 (0)115 848 6060 and select option 1. This line is open Monday to Friday 8.30 am – 5 pm.
Help keep yourself, your friends and your local community safe by following Government guidelines on self-isolating, social distancing, hand washing, wearing face coverings (in shops, public transport and on campus) and limiting the number of people you have contact with at any one time.