► Money

Budgeting money throughout your time at BU can be hard, whether or not you’re used to managing your own finances. Your situation’s unique but, whatever the problem, there is always a solution. Don’t bury your hand in the sand, thinking it will get better by itself – come and see us and we can help. Don’t forget, we’re confidential and non-judgemental. And don’t feel you have to wait until things go wrong before asking for our help – we’re most effective for you when we know the whole story and have a chance to nip things in the bud.

The three most common financial problems we handle are:

1 – “I just don’t have enough money.”

We can work through your finances with you to make sure that (a) you’re getting everything you’re entitled to and (b) you’re not spending beyond your means. There are so many different potential sources of cash that it’s easy to overlook some. And there are lots of ways to save money, too – from money-saving websites and apps to making sure you don’t lose any of your tenancy deposit, we’re here to help.

2 – “My loan hasn’t come through yet.”

We have access to a Practitioners’ Help Line at Student Finance England, and we’re always happy to call them on your behalf. Often it’s something small and administrative that can be cleared up quickly, but our team have successfully dealt with much bigger problems than that. We know that not getting your loan can be stressful and we aim to reduce that stress as far as we can.

3 – “Do I qualify for any benefits?”

The short answer is, in the majority of cases, no. But there are exceptions – most obviously for students with disabilities and students with children – so it’s always worth asking us to investigate for you. If you want to check your entitlement yourself, have look at the Government’s Benefits Adviser.

Those are just the big three - there are plenty of others!  If you've got a problem not covered above please get in touch - we'll be happy to help, as debt cases are some of the most rewarding work we do.

If you're worried about changes to student finance from 2012 onwards, please check out the information provided for students by MoneySavingExpert and NASMA and, particularly, their video below:

There are many other important changes planned for the 2012-13 academic year:

Working Tax Credit
Couples with children will now have to work 24 hours (previously 16 hours) per week between them, with one partner working at least 16 hours per week. Disabled people, people over 60 and those in receipt of Carers Allowance will continue to only have to work 16 hours per week. Click here for more information.

Claims for Child Tax Credit and Working Tax Credit can only be backdated by one month (previously three months.)

ESA
Contribution-based ESA in youth has now been abolished for new claimants. Those already in receipt of contribution-based ESA in youth will only receive support for one year starting from the time entitlement began.

Income Support
Lone parents: from 21 May 2012, most lone parents claiming Income Support whose youngest child is aged over five will have their Income Support stopped. Click here for more information.

Some other general tips are available in the pop-up boxes below:

Overdrafts

Payday loans

Phone contracts