Managing money at university doesn’t have to be stressful. Here’s how to make it work. For how much you can borrow and how repayments work, see our student finance 2026/27 guide.
Student Finance Explained
What’s Available
Finance Type
Purpose
Tuition Fee Loan
Pays fees (to uni)
Maintenance Loan
Living costs (to you)
Grants/Bursaries
Extra help (no repayment)
How much you can borrow depends on where you live while studying and your household income. For this year’s amounts, repayment plans and extra grants, see our student finance 2026/27 guide.
Creating a Student Budget
Monthly Budget Template
Category
Example Budget
Notes
Rent
£400-600
Usually the biggest cost
Food
£150-200
£40/week
Bills (if not included)
£50-100
Phone
£15-30
Transport
£30-50
Course costs
£20-40
Books, printing
Social
£100-150
Important!
Total
£765-1,170
Loan Payment Schedule
The Maintenance Loan is paid into your bank account at the start of each term, usually in three instalments (for most courses, around September, January and April).
Make It Last
Strategy
How
Divide by months
Loan ÷ term length
Weekly budget
Daily spending limit
Separate accounts
Rent account protected
Track spending
App or spreadsheet
Accommodation Costs
Halls vs Private
First Year (Halls)
What to Know
En-suite
Your own bathroom
Shared bathroom
Compare the price with en-suite rooms
Catered
Includes some meals, so compare with food costs
Usually includes
Bills, WiFi
Later Years (Private)
What to Know
Shared house
Often cheaper per week than halls, depending on the city
Bills
Often on top of rent: check before you sign
More flexible
But more responsibility
Rents vary a lot between cities and universities, so check your university’s accommodation pages for current prices.
Saving on Accommodation
Strategy
Saving
Shared bathroom (halls)
Compare with en-suite prices at your university
House share (later years)
vs halls
Negotiate private rent
Sometimes possible
Student-specific housing
Often good deals
Food and Shopping
Food Budget Tips
Strategy
Why It Helps
Meal planning
Less waste, fewer impulse buys
Batch cooking
Time + money
Budget supermarkets
Lower prices on everyday items
Reduced items
Yellow-sticker food near its date
Avoid takeaways
Among the easiest costs to cut
Smart Shopping
Shop
Student Benefit
Aldi/Lidl
Cheapest overall
Sainsbury’s
Nectar points
Tesco
Clubcard prices
Too Good To Go
Discounted surplus food bags
Cooking Basics
Cheap meals that work on a student budget: pasta and sauce, rice and stir fry, jacket potato and beans, soup and bread, and omelettes.
Student Discounts
Essential Cards
Card
Cost
Benefit
TOTUM
Annual fee
Wide discounts
UNiDAYS / Student Beans
Free
Online discounts
16-25 Railcard
Annual fee (free with some student accounts)
1/3 off most rail fares
Student ID
Free
Direct discounts
Free/Discounted Services
Service
Student Offer
Amazon Prime
Prime Student: free trial, then a lower price
Spotify Premium
Student plan at a discount
Apple Music
Student plan at a discount
Microsoft 365
Often free through your uni
Newspapers
Often free through your university library
Check the current student prices before you sign up: they change.
Discount Categories
Category
Where
Food
McDonald’s, Domino’s, many chains
Shopping
ASOS and many other brands
Tech
Apple, Dell, software
Entertainment
Cinemas, attractions
Travel
Trains, coaches
Part-Time Work
Balancing Work and Study
Hours/Week
Impact
5-10
Usually fits around study
10-15
Manageable for many students
15-20
Careful balance
20+
Risk to grades; the usual term-time limit on a Student visa
Good Student Jobs
Job
Why
Campus jobs
Flexible, understand students
Hospitality
Evening/weekend
Retail
Student-friendly shifts
Tutoring
Good pay, flexible
Brand ambassador
On-campus, flexible
Finding Work
Where
How
University careers
On-campus roles
Student job boards
uni-specific
StudentJob.co.uk
Student-focused
Indeed/Reed
Filter by part-time
Direct approach
Local businesses
Expected Earnings
At the National Living Wage (£12.71 an hour), before any tax or National Insurance:
Hours/Week
Monthly
8 hours
£441
12 hours
£661
16 hours
£881
20 hours
£1,102
The minimum rates by age:
Aged 21 and over: £12.71 an hour (the National Living Wage).
Aged 18 to 20: £10.85 an hour.
Under 18: £8.00 an hour.
Apprentices get £8.00 an hour if they're under 19, or 19 or over and in the first year of the apprenticeship; otherwise the rate for their age.
Student Bank Accounts
What to Look For
Feature
Importance
0% overdraft
Essential
Overdraft limit
Size matters
Free railcard
Saves 1/3 on most rail fares
App quality
For budgeting
Comparing Accounts
Overdraft limits and perks vary by bank and year of study, aren’t guaranteed and change often. Compare current offers in our student bank accounts guide.