MONEY MATTERS

STUDENT FINANCE

You can apply for Student Finance for your tuition fees loan and also apply for a Maintenance loan which will help with living expenses whilst you are studying.

You should ideally apply for your student finance by the end of May, before your course starts. Doing it by this time should prevent any delays in you receiving your loan at the start of term. If you miss the deadline for whatever reason don’t worry, you can still submit your application but there may be delays on receiving your loan at the start of term.

When applying for Student Finance you can apply for a tuition fee loan, which covers your fees for the course and a maintenance loan which will help with living costs whilst studying. Some maintenance loans can be assessed on your family income, use the student finance calculator to see your entitlement.

Student finance is available to full-time and part-time students who meet the eligibility rules for student finance. Your maintenance loan will be paid directly into your bank account by the Student Loans company once you have enrolled and started attending your course, the loan is paid in three termly instalments.
Click here to find out how to apply for Student Finance:

MANAGING YOUR MONEY

It’s important to know how to manage your money as a student, otherwise it won’t last through term time and holidays. Many choose to stay in the family home to save on living costs, but for others it’s usually the first experience of living away from home. We understand the temptations when your student loans arrive but this exciting time comes with a number of new responsibilities, including the need to take control of your finances. Try and look for work as soon as possible – there’s likely to be lots of competition! Once you’ve worked out your budget, you’ll see if taking on part-time work is a good idea.

LMA students will have access to the local jobs vacancy section of the LMA app where local businesses update us directly of any vacancies available. These opportunities could be during the holidays or term time.
But don’t neglect your studies – research shows that more than 20 hours of work a week can have a negative impact on academic performance. So if you’re aiming for a job during term time, try and find a good work and study balance.
For advice on budgeting whilst studying follow this link:

For more information contact us here 

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