Managing your finances Budgeting is vital to any student and you’ll need to think about tuition fees, living costs and available financial support ahead of going to university. Before you start your degree it’s important you understand the costs involved in living and studying as a student of the university. How much should you budget for social life, food, books, transport and accommodation? Also, what assistance is there available to help you cover these costs? The following information is designed to offer you guidance but how much you choose to spend, tuition fees aside, is ultimately down to your needs and lifestyle. Let’s start with tuition fees. Each year you will be charged an annual tuition fee. The tuition fee for 2018/19 will be £9,250. If you’re a student from the EU, the UK Government has confirmed that if you start your undergraduate degree in 2018 you will pay the same as UK students for the duration of your degree. At the time of writing, it is not yet known what tuition fees will be for 2019 entry, so we advise you to visit our website for the latest information. If you spend a year studying abroad or working in industry then this will carry a different fee. Fees for international students also vary depending on your chosen degree. Further details on fees can be found on our website.
In terms of living costs (that’s accommodation, food, personal expenses, study-related costs like books and some travel expenditure) we estimate a single person will likely spend between £7,000-£10,000 over the academic year. See below for the breakdown in more detail. International students will also need to take into account various settling-in expenses such as travel to and within the UK, travel and health insurance and visas.
Financial support The good news is that there is a range of financial support on offer to help you cover the costs. Tuition fee loans for UK students mean that you don’t have to pay for your degree upfront and they are currently only repaid once you have graduated and are earning over £21,000 a year. This is due to increase to £25,000 from April 2018. Eligibility for tuition fee loans for EU students will be dependent on Government policy. Maintenance loans, for UK students only, can help with living costs such as food, accommodation and travel. Students with a disability, those with dependants, those in receipt of certain means-tested benefits and care leavers may also benefit from additional help. For further details visit gov.uk/student-finance
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16 FOOD
Expect to spend around £40-£60 a week on basics.
SOCIAL LIFE You’ll probably spend £50 a week on average, depending on what you like doing.
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WHERE DOES YOUR MONEY GO*?
TRANSPORT If you live locally to campus, with the occasional trip to London, this could cost you around £20 a week/£600 a year, more if you live further afield.
*All figures shown on this page are estimates, please refer to our website
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royalholloway.ac.uk/ugfeesandfunding
Anything from £300-£450 a year, depending on your field and type of study. Try buying second-hand and using the libraries to save cash.
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BOOKS
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60
ACCOMMODATION 38 weeks in a hall of residence costs on average £3,500–£6,600 a year.