Student Finances

Correctly managing your finance at university is very important. As well as this page in this section you will also find:

What is your degree worth?

A degree will improve your qualifications, your social life and your career prospects. However, market research indicates that graduates feel the most important aspect of having a degree is the boost it gives to their career. Consequently many feel it will provide them with a competitive advantage in the workplace as well as increase their earnings potential over the long term. Although having a degree doesn't guarantee a graduate job, it definitely opens up many more doors.

You are almost twice as likely to be unemployed without a degree, although graduates are far more likely to be in senior positions and earn more. A degree on its own will not open doors. You need to develop the skills that employers want and gain valuable work experience at the earliest possible opportunity. Going to university isn't cheap, so is it worth it financially?

The average starting salary for a graduate is approximately £20-25K , but this masks a huge range of different salaries. For example graduates looking for a graduate job in a law firm or investment bank can expect initial salaries of between £27,000 to £35,000 with bonuses while those choosing a career in health or social care might earn £10,000 to £13,000.
 

Managing your finances

Since the abolition of maintenance grants and the introduction of tuition fees, finance has been a major issue for anyone considering university. Research has indicated that many higher education students underestimate the real cost of studying and living. The tuition fees cover the cost of teaching but there are more costs associated with courses. It will help you budget if you take some time to find out just how much your course is going to set you back. The institutions prospectus, course tutor or possibly students union should give some indication of book and equipment costs.

The National Union of Students (NUS) provides estimates of average living costs for student during a year of study. This is a useful guide but it will vary depending on the course requirements (books, equipment, field trips) and where you plan to study. If you want to manage your finances as best as possible we have listed a few things in this section you may want to consider.
 

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