Money Advice

Introduction

Our aim is to help you keep on top of your finances and we do that by:

  • Offering funding information
  • Providing advice if you are struggling financially
  • Making you aware of what financial support is available to you
  • Working with you to create a stress free budget plan
  • Administering Hardship Funds

Team Drop in Times:

Drop in to the Student Information Centre (SIC)

Monday & Friday – 10:00 to 13:00
Tuesday & Thursday – 13:00 to 16:00
Wednesday – no drop ins

moneyadvice@edgehill.ac.uk
01695 657250

How We Can Help

Support in Getting Your Funding Sorted

Are you struggling to progress your student funding application? Don’t struggle on your own, drop in to see us and we can call on your behalf to help get things moving.

Financial Health Checks

Have you applied for all the funding you’re entitled to? Think you have but are unsure? Drop in during our drop in times and we’ll be happy to check for you.

Advice & Support if You’re Struggling Financially

  • Emergency short term loan – A limited university loan that may be offered to students in their first term, who are awaiting their student funding or who are experiencing extreme financial hardship. You can find out more about emergency short term loans here
  • The University Hardship Fund – This fund is designed to support students whose income is less than expenses that we can consider. Application is required and a means test of your income and certain expenses is carried out to determine whether you qualify for an award. If you qualify, you will not need to pay back the money you receive. There is one application form and guide for full-time students and another for part-time students.

 

Student Funding

Our Money Matters pages offer advice and guidance on what student funding is available to students.

These pages have been designed to answer your questions about:

  • How much will your course cost
  • What support may be available and
  • How to apply for funding

Managing Your Money

The key to managing your money effectively is to plan ahead and make a budget. It may be a chore, but it really is worth spending some time on, to avoid worrying about your finances later in your course. It’s a matter of taking control of your finances rather than letting your money (or lack of it) control you.

If the situation does get out of hand then don’t panic. After all, you are here to study not to worry about money. Advice is always available from the Money Advice team.

Budgeting

Edge Hill University has signed up to Blackbullion to allow YOU to access all the resources on offer. These include modules on budgeting, debt, and a 21 day money bootcamp. Take advantage of being able to access these great services for free by registering with Blackbullion here.

You’ll need your university email address and it only takes a minute. After registering, you’ll get access to your personalised Money Dashboard and you’ll be able to follow the modules at your own pace, when and where it suits you.

blackbullion-dashboard-screenshot

Here is a handy guide from Blackbullion all about managing your money.

The University Hardship Fund

This fund is designed to support students whose income is less than expenses that we can consider. Application is required and a means test of your income and certain expenses is carried out to determine whether you qualify for an award. If you qualify, these awards are non-repayable.

Please note that if you are currently experiencing financial hardship due to a delay in your funding you should contact the team for further advice.

Full-time Students
Full-Time UHF Application Form

Full-Time UHF Childcare Form

Part-time Students
Part-Time UHF Application Form

Part-Time UHF Childcare Form

Closing dates as follows:

Course Student is Studying on Deadline for UHF form
Nursing/Midwifery/ODP/Paramedic Practice – April 2016 start 3rd February 2017
Final Year Undergraduate Students 31st March 2017
Undergraduate & Postgraduate Students 12th May 2017
PGCE Students 2nd June 2017
Nursing/Midwifery/ODP/Paramedic Practice – September 2016 start 2nd June 2017
Nursing/Midwifery/ODP/Paramedic Practice – April 2017 start 2nd February 2018

Budget Planners

Budget planners

Student finance can be confusing for students, which is why it is important to apply for funding as early as possible and to put a budget in place for the year.

Most students arrive at university with little or no experience in managing money. It is important that you work out a budget plan so that you are aware of how much money will be available to you from the beginning of the first semester.

It is tempting to forget that income like your loan or grant has to last longer than the first month and that you still have to pay for essentials in the last week of term.

It is usually best to have a weekly budget figure as it is easier to track your spending. Sticking to a budget is the key point to remember, to make sure that you get the most out the funding for the year!

Brightside

The Brightside budget calculator is tailored towards students. There are three stages to the calculator, the first stage calculates an estimated award from Student Finance, the second stage tallies up any income that you may have for the year and the third stage is for any expenses.

There are sample expenses such a shopping lists to give you an idea of what a weekly shop might cost. Keep in mind that the calculator gives an annual figure (yearly) so this will need to be divided by the number of weeks in the year or in study to give an accurate budget. The Brightside calculator should take approximately 10 minutes to complete.

Money Saving Expert (Martin Lewis)

The Martin Lewis budget calculator is designed to accurately capture the way people spend and is more comprehensive than most. It will take approximately 15-20 minutes to complete should you have all the information required beforehand.

There are three versions of the tool: the big online financial analyser tool, an Excel or Open Office version if you prefer spreadsheets, or a good old-fashioned print-out if you don’t.

Tips for managing money at university

  • Open a student bank account before you leave for university, don’t forget to tell Student Finance the new bank details!
  • Don’t use credit or store cards.
  • Set a budget and stick to it – you don’t want to be working lots of hours to pay off your overdraft in the summer!
  • Remember that at certain points in the year there are big spending outlays. You should anticipate this in your budget, for example, at the start of the year buying study materials and joining societies or later in the year with travel expenses or Christmas shopping.

Bump Up Your Income

Part-time Work

The best way to supplement your income is through wages from a part-time job.

Edge Hill Works is a free university employment service which can help students find part-time and temporary work during term-time and vacations.

For help in finding employment you can call in to speak to Katharine McKinnon (our Employment Adviser) who is based in the Careers Centre in the Student Information Centre. The Careers Team can also be contacted on 01695 584322 or by emailing careers@edgehill.ac.uk.

Scholarships

Have you thought about applying for an Edge Hill University Scholarship? These can be worth up to £2000. The University offers a range of scholarships and awards for students including personal and academic achievement, creative writing, raising the profile of the University, overcoming personal difficulty, and making a contribution to equal opportunities and diversity as well as rewarding excellence outside the classroom. For further information about Edge Hill University scholarships please visit: Edge Hill University Scolarships

Ask for a Financial Health Check

Have you applied for all the funding you’re entitled to?

Think you have but are unsure?

Come to one of our drop-in sessions and we’ll be happy to check for you.

 

Money Saving Tips

There are several ways to help reduce your expenses:

Council tax

If you are a full-time student, at enrolment you will be given details of how to download a Council Tax exemption certificate. This may result in you being exempt from paying council tax or your bill may be reduced by 25%;

Health care

You may be entitled to free prescriptions, dental check-ups and sight tests. To apply, you need to pick up a HC1 form from your dentist, doctor or from the Student Information Centre. Alternatively, you can request a form from www.nhsbsa.nhs.uk/HealthCosts.

National Union of Students (NUS) Extra card

Once you have your UNI Card, you can call into the Students Union at our Ormskirk Campus or go online and purchase your NUS Extra Card for just £12. This card can be used to gain many discounts on a variety of purchases, from cinema tickets to clothes and haircuts. Whenever paying for goods and services, always check whether there is a discount with your NUS card;

Young Person’s Railcard

Available from any train station, a Young Person’s Railcard gives you up to a third off many rail journeys. As the Young Person’s Railcard is normally only available to 18-25 year olds, if you are 26 or over you can still obtain this card but would need to prove that you are a full-time student by having your application form validated by Edge Hill. Pop into the Student Information Centre to get your form stamped.

TV Licence – Summer Refund

Paying for a TV Licence may feel like a big expense but the fines are even bigger if you are caught without one! The good news is that you may be eligible for a refund for the period of your licence which covers the summer months. For more information, visit: www.tvlicensing.co.uk.

 

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