Going to college and university can be an expensive time, but there are loads of things you can do to help make it a little bit easier.
Lots of people stay living at home if they go onto college or sixth form when they finish school, but even then it can be nice to have a bit of extra spending money.
The most obvious way to get extra money is to get a part-time job. You will need to decide how many hours you will be able to do before it starts getting in the way of your college course. Most colleges recommend that your part time job takes up no more than 10 hours of your spare time, but every course varies so make sure you speak to your tutors first.
The government and your L.E.A.(Local Education Authority) also offer help when it comes to funding your education. Between the ages of 16 and 19 the government generally continue to fund your education. So if you go onto a college in your local area to do A-Levels, B.T.E.C.'s, N.V.Q.s etc then these courses will be free. This isn't it though; the government also run a scheme known as an EMA (Education Maintenance Allowance) which means you can get up to £30 a week, during term time. Whether you qualify for this money is dependant upon your household income.
On top of this, colleges run Learner Support Funds. If you have to travel over a certain distance everyday then you may be entitled to help with your travel costs. You may also get help with paying for books, equipment, extras like field trips and visits and accommodation costs if the course that you choose is further away than you can travel in one day. There are even funds available if any emergencies or hardships arise that affect you personally or affect your learning. All you will need to do is speak to your college so make the most of any extra help you can get.
It is important that you open up a bank account so that whether you get your money from a part-time job or a government EMA you will always have a place to keep it. Most banks also have financial advisors who can help you figure out the best ways to manage your money.
When it comes to going to university all that good practice you've had with managing your money at college will become even more useful. Nearly every bank offers a student account that is available to you as soon as you start university. It's a great idea to update the account you've had during college to one of these student accounts as they are adapted to what a student will need. They even have special student advisors to help you keep on top of your finances.
The cost of university is a bit different than the cost of college. For most courses at university you will need to pay a tuition fee, which basically covers the costs of your lecturers, the extra facilities and equipment that you are going to need (like bigger libraries, better sports facilities, more up to date art studios etc.) It also helps to pay for the extra research that the people teaching each course have to do. The exact cost of the tuition fees is up to the university although as a rough guide it's about £3000 per year. Don't let this put you off though as the government may offer a loan to help you pay for these fees. When you apply for the loan the government will get in touch with your university, find out exactly what it is that you need to pay and then the government will pay the money straight to your university. You then don't need to start paying this money back until you have graduated and have a full time job.
The government also offer another loan which they pay to you. It's called a maintenance loan and it's worked out, like the EMA, on how much your household income is. The maintenance loan is designed to help you out with general living costs like buying books, food, paying rent and bills and so on and you pay it back in the same way as the tuition fee loan.
You could also receive a grant and/or a bursary which are sums of money that you do not have to pay back. A maintenance grant is paid to you by the government if your household income is below a certain amount and this will help you with accommodation and living costs.
Many universities also offer bursaries but these will vary at every institution. At the University of Portsmouth for example you may receive a bursary, again depending on your household income. As an incentive for local students to attend, a small bursary is offered, no matter what your household income and you may receive a bursary if you are studying for a particular course. For example if you choose to study a course such as nursing then you may receive a bursary from the NHS.
The university will also have Learner Support Funds and often they will be able to help you out with certain costs if you get into any difficulty.
The chances are that even if you didn't need one when you were at college, you will need to get a part time job to help you with the everyday costs of being at university. Apart from anything else you get the bonus of having extra money and it's a great way to meet new people. Like with college though you need to make sure that the hours you work do not interfere with your studies so make the most of all of the help and advice that your uni offers.
The University of Portsmouth, like lots of others, has a careers department which is available to help and advise you on what part time work you could think about doing. Not only this, but the careers advisors can help you to find a job near to where you are living, or even one that might help you to get the job you want in the future.