Student Funding and Budgeting

When you start university, you will usually be living on a fixed income. Creating a simple budget can help you stay in control and reduce financial stress.

Keeping track of your income and spending allows you to see how much you have available for essentials and non essential costs. This is particularly important if you are managing money independently for the first time.

We recommend working out your budget as soon as your student loan arrives. Budget planners can help, and the Advice and Representation Centre can support you with any budgeting queries.

If you are struggling financially, do not panic or feel embarrassed. Ignoring money worries often makes things worse, but help is available to support you early.

Student Finance

Student Finance England provides loans to help cover tuition fees and living costs while you study.

Everyone is entitled to the non means tested element of the loan. The means tested element is based on household income, usually your parents’ income unless you are classed as independent or estranged.

If you already hold an honours degree, you may not be eligible for further student finance unless you are studying for certain professional qualifications.

Eligibility for funding is assessed by Student Finance England and students must meet residency requirements.

I Have Not Received My Funding Yet

If you have completed enrolment and received confirmation of your funding but no payment has arrived, it may still be processing.

Check that all enrolment tasks have been completed, as this can delay payment.

Log in to your Student Finance account to ensure all required evidence has been submitted:
www.gov.uk/studentfinance

Printing your Student Finance Account Summary can be useful if you need to provide proof of funding to the University.

Students and Welfare Benefits

Most full time students are not eligible for welfare benefits, but some exceptions apply.

You may still be able to claim benefits if you live with a partner who is not a student, or if you meet specific criteria.

Find out more about students and benefits here:
Turn2Us student benefits guide

Full Time Students and Universal Credit

Most full time students cannot claim Universal Credit. Exceptions include:

• Single parents
• Students classed as disabled
• Students of pensionable age
• Couples with a dependent child where both parents are students
• Part time students studying fewer than 16 hours per week

Maintenance loans are treated as income for benefit calculations, with some elements disregarded.

If you are eligible to claim Universal Credit, you may need a confirmation letter from the University. This can be requested via ASK@WLV.

Part Time Funding

You may be eligible for student finance if your course intensity is 25 percent or more.

Course intensity compares the credits you study each year with a full time course.

More information on part time funding is available here:
Part time student finance

Postgraduate Funding

If you are starting a master’s degree, you may be eligible for a Postgraduate Master’s Loan to help with tuition fees and living costs.

Find out more here:
Postgraduate Master’s Loan

Student Debt

Ignoring debt problems can make them worse. Free, independent advice is available to help you take control.

• Citizens Advice
• StepChange
• National Debtline
• Money Saving Expert

Other Financial Support

The Dennis Turner Fund is the University’s hardship fund and is designed to support students experiencing genuine financial difficulty.

You must have explored all other funding options before applying.

Applications are made via your e:Vision account under the Finance and Bursaries tab.

If financial difficulties are affecting your studies, the Advice and Representation Centre can offer confidential guidance.