General Advice

General Advice

Bank Accounts - It is likely that your account will be in overdraft after you graduate.  You will need to start repaying this as soon as possible but the banks understand that you may have difficulty finding employment immediately and that you may receive a fairly low wage to begin with.  It is wise to keep in touch with your bank and explain any difficulties you are having so that they can be as flexible as possible with you.  It may prevent extra charges being added to your account should you fail to repay at the rate demanded by the bank.

Many banks offer a graduate account after you finish your studies.  This may allow you an interest free overdraft for a limited time.  The overdraft will reduce each year.  If there is any overdraft remaining at the end of the graduate period then you will need to agree an overdraft facility with the bank.  Normal current accounts will charge interest on your overdraft, and charges will be added for exceeding the limit.  Some may actually charge for having an overdraft facility so you should make quite sure what your bank’s policies are.

When you find a job, your bank may offer you a graduate loan to help you buy things you need for work such as a car or new clothes.  You should consider carefully whether you can afford to make repayments each month.  Although graduate loan interest rates are fairly competitive, they are not like student loans and you will start making significant monthly repayments almost immediately.  Over the three to five years you repay the loan, you will pay back more than you have borrowed so you should really only consider taking a loan if you absolutely need the money upfront because you need the item/s immediately.

Updating contact information - Do not forget to ensure that your Student Office have a correct contact address for you - in order for you to receive graduation ceremony information, exam results etc. You must remember to return all your library books to avoid being fined for late return.  

N.b. If you owe the University any money, you may not be allowed to attend your graduation ceremony.

If you are registered with a Doctor in the area you currently live and you move, you should inform them of your change of address.   It might be necessary to change surgeries if you move out of the area covered by the practice.

Travel - if you intend to go abroad make sure you have all the required documentation i.e. passport, work permits etc.  Don’t forget to check if you need any immunisation injections and make sure that you obtain travel insurance. 

TV’s and Electrical Equipment - remember you are responsible for TV’s, washing machines or other electrical equipment that you may have rented.  Inform the rental company in good time of the date that you will be leaving the property.  The requirement is usually at least a month. 

You should be able to cancel and claim a refund for the final quarter of your licence term at www.tvlicensing.co.uk/refund

Arrange for them to collect the items while you are there - the agreement they made is with you, so you have responsibility to ensure the items are returned/collected.  Do not expect a friend or your landlord to deal with this because if anything goes wrong and it gets lost or stolen you will be responsible for the full cost of a replacement.

Mail - you can ask the post office to redirect your mail (there is a fee for this service) - do not rely on your friends or landlord to do this.  If any important correspondence does not reach you because of lack of redirection you will be responsible for any consequences i.e. non-payment of bills, summonses or fines.

If you require any information/advice, please do not hesitate to contact us.  Email: advice.wolvesunion@wlv.ac.uk

Useful Numbers

Advice and Support Centre - 01902 322038

University of Wolverhampton Switchboard - 01902 321000

Careers Development Service - 01902 321414

The Workplace – 01902 323400

Student Experience Services - 01902 321070

Tax Credits (helpline) – 0845 300 3900

Student Loans Company - 0300 100 0607

 

and finally...

We hope that you will look back on your time at the University of Wolverhampton with many happy memories - but if there are any ways the University or the Students’ Union could have helped you more please let us know - Good Luck with job hunting and your future career!

Keep in touch www.wlv.ac.uk/alumni