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MONEY MATTERS

Money Matters Blog

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BUY-NOW-PAY-LATER? WHAT IS IT AND SHOULD I AVOID IT?

You may not be familiar with the term Buy-now-pay-later (BNPL), but you may have
seen lenders you have done any online shopping in the lead up to Christmas. BNPL
Lenders such as Klarna (the UK’s largest provider), Clearpay and LayBuy are
names you may see when you get to the checkout on your favourite websites such
as ASOS, Pretty Little Thing and JD Sports.

BNPL firms allow people to split the cost of their shopping into “more
manageable” chunks over time or by “postponing” their bill interest-free.

Currently, more than 17 million UK customers have used BNPL companies to make
online purchases, company data has shown.

Citizens Advice have released figures that 1 in 10 Buy Now Pay Later shoppers
have been chased by debt collectors. Rising to 1 in 8 for young people.

The risk with how BNPL companies operate is the fact that it is not primarily
based on credit. If you were to get a credit card or a loan, for example, the
companies would run a credit check on yourself to ensure that your credit score
is high enough to allow for the repayments. With most credit cards, if you don’t
meet your payments you will get charged interest.

However, BNPLs do not run credit checks or charge interest. They assume
customers will be able to meet the repayments be it weekly or monthly. The
issues arise when payments are not made, fees for missed payments will then be
charged. If any payments are missed BNPLs will often refer the customer to debt
collection agencies instead to recoup the costs. (Please note, terms and
conditions vary between companies).

As it currently stands, BNPL lenders are currently unregulated and there are
calls from certain MPs to ask retailers to stop using BNPLs on their websites
until it is properly regulated. However, regulation is in the pipeline.

Around the festive period, it is very easy to get absorbed in all the
commercialism and need and want to gift people. However, within the Financial
Guidance Team, we advise students to use the Money Saving Expert Mantra to ask
themselves the following questions prior to purchasing.

· Do I need it?

· Can I afford it?

· Will I use it?

So, prior to making any purchases, take a moment, pause and think of the mantra.
If you can’t afford something today. Why don’t you save up and buy it tomorrow?

If you are planning on making any purchases in the lead up to Christmas, ensure
that you make the most of all the money-saving opportunities as a student
through the numerous Student Discount providers. Such as UniDays, Student Beans
and Totum.

Author David LewisPosted on December 16, 2021Categories Advice, Christmas, Money
Advice, Money dangers, Online, SpendingTags Advice, BNPL, Buy Now Pay Later,
Christmas, Make the most of your money, Money advice, Money saving, Student
advice, Student money

BLACK FRIDAY – IS IT WORTH THE HYPE?

Friday 26th November 2021 marks Black Friday in the UK and much of the Western
world. It is a day when many retailers offer discounts on items and give
customers the impression they are making huge savings. But in the competitive
ecommerce society that we currently live in, do Black Friday Deals really save
us any money at all?

According to Finder.com, the average Briton spent a whopping £295.67 (in 2020)
across Black Friday and Cyber Monday, an increase of 39% on the previous year.

But are Black Friday Deals any cheaper or are we just lured in by flashy
advertisements and the promise of huge discounts? Comparison company Which
completed an investigation into Black Friday Deals in 2020, and found that 98%
of the discounts advertised the previous year were available for the same price
or cheaper in the six months after the sale ended. Take a look at the Which –
How to avoid fake Black Friday deals article giving you 4 tips to help you check
if a Black Friday deal is fake.

With numerous companies offering their own discounted sales days throughout the
year and also being a student, you can access additional student discounts by
making the most of UniDays, Student Beans and Totum, so is it worth heading out
to the shops on this one day? Or should we budget and spend moderately
throughout the year? Within the Financial Guidance Team, we would encourage
students to follow the MoneySavingExpert mantra and to think carefully before
spending and remember to ask yourself the following questions:

* Do I need it?
* Can I afford it?
* Will I use it?

If the answers are no, don’t buy it.

However, if there is something that you need and you are heading out shopping,
then take a look at the MoneySaving Expert guides and tools to help you shop
smarter. Remember to budget your student loan, it is important to use this money
wisely and effectively to ensure you are meeting all your essential costs
throughout the year before being tempted by discounts and deals for items that
you may not need.

Author David LewisPosted on November 23, 2021Categories Black Friday, Budgeting,
Funding, Money Advice, Money dangers, Student Finance NewsTags be careful
online, Black Friday, money advise, Online Shopping, Student Discounts, Student
finance

STUDENT FINANCE FAQS 2021/22

Throughout this blog, we are going to answer some of the most frequenlty asked
questions we get at the start of term in regards to Student Finance and how you
can get in contact with us.

I HAVEN’T RECEIVED MY STUDENT MAINTENANCE LOAN, WHAT CAN I DO?

If you have been assessed for your funding by Student Finance England (or your
regional funding provider) and have recently enrolled, it could be that the
University has only just confirmed your attendance. This usually triggers your
loan payment, however it can still take up to 5 days for any money to reach your
account.

If you have enrolled, but you haven’t yet been assessed by Student Finance
England (or your regional funding provider), then we would encourage you to call
them or check your online account for an update on your application. You may
need to provide further information to support your application.

* Contact Student Finance England (SFE):

For general information and to apply visit: www.gov.uk/student-finance

Telephone: 0300 100 0607

Monday to Friday: 8am to 8pm
Saturday and Sunday: 9am to 4pm

* Contact Student Finance Services (EU students):

Telephone: 0141 243 3570

Monday to Friday: 8am to 8pm

Saturday and Sunday: Closed

I’VE ONLY RECENTLY APPLIED FOR STUDENT FINANCE, HOW LONG WILL IT TAKE TO BE
ASSESSED?

Applications usually take approximately 6 – 8 weeks, however, the start of term
is a very busy time for processing applications and additional information. We
would encourage you to check your online account for updates and call SFE (or
your regional funding provider) if you have queries.

CAN I APPLY FOR ANY SHORT-TERM LOAN UNTIL MY STUDENT FINANCE COMES THROUGH?

Students can apply for a short-term Bridging Loan of up to £500 (eligibility
criteria apply). For further details and to apply online, click the button
below.

Bridging loan

I’M NOT SURE I HAVE BEEN ASSESSED CORRECTLY FOR MY MAINTENANCE LOAN, HOW CAN I
CHECK?

f you’re worried and want to check if you’ve been assessed correctly for your
funding, please use the Student Finance calculator to estimate the level of loan
available as well as any extra student funding, for example if you have a
disability or children. Please note this calculator is for students from
England and EU students starting a new undergraduate course in 2021/22.

Student Finance Calculator

CAN THE FINANCIAL GUIDANCE TEAM CONTACT STUDENT FINANCE ENGLAND (SFE) ON MY
BEHALF?

Yes. We would however encourage students to call SFE initially as this may
resolve your query quickly. If you still require help and would like the team
to contact SFE, you will need to set up a ‘consent to share’ to
give permission. This allows the Financial Guidance team (or other Student
Services team) to contact SFE (or your regional funding provider) to discuss
your application on your behalf.

To arrange this, please call SFE on 0300 100 06 07 and advise them that you
would like to set up a ‘consent to share’ for the University of Northampton –
they will usually ask for the institution name, as well as our relationship to
you, which is ‘Higher Education Provider’ or HEP. They may also ask for
the postcode of the University (NN1 5PH).

You will then be asked for a password, which the Financial Guidance team will
need to know to access your account – please contact us afterwards with
this password.

IS THERE ADDITIONAL SUPPORT AVAILABLE FROM SFE FOR THOSE WITH DEPENDENTS OR
DISABILITIES?

Yes. SFE have additional support available for those with children or dependent
adults as well as support for those with a disability, long-term health
condition, mental health condition or specific learning difficulty (such as
dyslexia), eligibility criteria apply. Please see a summary below:

* Parents Learning Allowance - up to £1,821 a year depending
on your household income.
* Childcare Grant - up to 85% of weekly childcare costs (up to a maximum of
£179.62 per week for one child or £307.95 per week for more than one child).

* Adult Dependents’ Grant – up to £3,190 a year depending on household income.
* Disabled Students Allowance

For further information, visit the following Student Finance pages: Extra Help
or Quick Start Guides

I’M STUDYING A HEALTH PROFESSIONAL COURSE AND I’VE HEARD ABOUT AN ADDITIONAL
TRAINING GRANT FROM THE NHS, WHAT IS THIS AND WHERE CAN I FIND OUT MORE?

Students who are studying on certain pre-registration undergraduate and
postgraduate health professional courses such
as nursing, midwifery, occupational therapy, podiatry, physiotherapy or
paramedic science may be eligible for additional financial assistance from
the NHS Learner Support Fund (eligibility criteria apply). Students may apply
for this support in addition to the funding available from Student Finance
England.

For further details and to apply, click here.

USEFUL CONTACTS

Financial Guidance Team: 01604 893299 money@northampton.ac.uk

Fee queries (Income Team): 01604 892327 income@northampton.ac.uk

Scholarships Administrator: Scholarships@northampton.ac.uk

If you need to contact the Financial Guidance Team to discuss your funding
query, we would encourage you to call or email initially. If necessary,
we can arrange a follow-up appointment.

COME AND SEE US!

The Financial Guidance Team, will be running drop in sessions on the ground
floor of the learning hub between 10am and 2pm from Monday 4th October through
until Tuesday 12th October. Feel free to come and see us with any questions or
queries that you have surrounding your Student Finance.

Author David LewisPosted on September 28, 2021October 1, 2021Categories Advice,
Funding, Money Advice, Student Finance News, UncategorizedTags FAQs, financial
guidance, Student finance, Welcome Week

CAN I AFFORD TO STUDY AT POSTGRADUATE LEVEL 2021/22?

UNDERSTANDING THE FINANCIAL IMPLICATIONS OF STUDYING A MASTERS’ DEGREE,
POSTGRADUATE TEACHER TRAINING OR A PHD.

So, you have finished your course – what is next? Studying for a Masters’
degree, training to become a teacher or studying for a Doctorate course are
often popular choices. Whether you loved your course so much that you would like
to carry on, you have decided that you need another qualification for your
desired career, you want to impart your knowledge onto future generations or
even that you would like a bit more time at university before deciding what to
do next. There are plenty of exciting study options available. However, funding
for a Masters’, teacher training or a PHD often differs from the support
available for undergraduate study. Before enrolling on your dream course, it is
worth taking some time to plan how you are going to fund yourself for the next
year of study. Especially if you do not have savings, or family/friends who are
able to offer support.

BUDGETING

The first step is to work out what you need to live on as a postgraduate
student. You may already know how much your living costs such as rent, food,
bills, travel, etc, are likely to be, based on your spending as an undergraduate
student. Tuition fees will vary depending upon the course, the university, and
whether you plan to study on a full or part-time basis. For further details of
course fees, please refer to the ‘Fees and funding’ section of the course
overview page of the website: https://www.northampton.ac.uk/courses/

If you studied for your undergraduate course at the University of Northampton
and plan to enrol on a Masters or doctoral programme with us, you may be
eligible for a 20% discount on course fees (eligibility criteria apply), please
see the Graduate Discount Scheme for further details:

> Our Graduate Discount Scheme

Now consider other course-related costs such as books, printing, equipment,
field trips, placements, etc – you may need to contact the course tutor for
further details of typical costs.

If possible, make sure that you allow some room in your budget for additional
spending, in case of emergencies.

Do not forget that a full-time Masters’ and teacher training courses can
typically run for 52 weeks – and sometimes longer. Whereas a full-time PHD
typically runs over three years and can take double that if being studied part
time. For further budgeting guidance, read our Money Matters blog:
http://moneymatters.northampton.ac.uk which has more information about how to
budget and why do you need to budget, as well as and other related posts;
including online tools like student calculators and Apps to help save you money.

POSTGRADUATE MASTER’S LOAN

You may be eligible for a Postgraduate Master’s Loan to help you with your
tuition fees, living and course costs while studying (eligibility criteria
apply). However, there are several differences between this loan and what you
may have received when you were an undergraduate student:

* There are no separate loans for tuition fees and living costs (maintenance) –
instead, you can apply for a single loan of up to £11,570 (for courses
starting in 2021/22). This means that you will need to arrange payment of
your tuition fees directly to the University. The Postgraduate Master’s Loan
is paid in three instalments during the academic year; if you are studying
for longer than a year, the funding will be split evenly across the length of
your course.
* It is not means-tested – therefore the amount available is not based on your
income or your family’s income. This can be good news if your family has a
high household income, however those who come from a low household income may
find the support available is much less than the support available while
studying an undergraduate course, especially as there are no additional
allowances such as Parents Learning Allowance or the Childcare Grant to help
with childcare costs. So, if you need childcare while studying, you will need
to consider this cost within your budget.
* Usually you can only apply for a Postgraduate Masters Loan towards one full
Masters-level qualification. There is no ‘plus one’ year of support available
if you need to repeat or retake part of your study.

Further information about the Postgraduate Master’s Loan including eligibility
criteria and how to apply is available online*.

www.gov.uk/funding-for-postgraduate-study

As the Master’s Loan is unlikely to cover your tuition fee, living and
course-related costs in full, you may wish to consider it as a government
contribution and then look at other ways to pull together the money that you
need.

TEACHER TRAINING FUNDING

Students looking to continue their postgraduate study and become teachers may be
able to apply for funding if completing a course in Initial Teacher Training
(ITT) (not including early years) or a Postgraduate Certificate of Education
(PGCE). You will need to apply for undergraduate student finance to get funding
for your teacher training, even though the course is postgraduate level.

Students who have already gained qualified teacher status cannot get an
undergraduate tuition fee loan.

The Tuition Fee Loan is up to £9,250 (2021/22 academic year) and the Maintenance
Loan to help with living costs is up to £12,382 (2021/22 academic year), however
please be aware this rate is lower for those living at home or living outside
London. You can still apply for the tuition fee and maintenance loan if you
already have a student loan from your undergraduate study, and regardless of
whether you get a bursary or scholarship (dependent on subject area).

Alumni PGCE Bursary Award – If you studied your undergraduate degree with the
University of Northampton and are looking to enrol on to a full-time PGCE
course, you may be eligible for the Alumni PGCE Bursary Award of £500, please
visit our website for full details.

Further information about funding for teacher training, please visit*:

https://getintoteaching.education.gov.uk/funding-your-training

www.gov.uk/teacher-training-funding

DOCTORAL LOAN

You may be eligible for a Postgraduate Doctoral Loan to help with the cost of
tuition fees, living and course costs while studying (eligibility criteria
apply). However, much like the Postgraduate Masters Loan, there are several
differences between this loan and what you may have received when you were an
undergraduate student:

* There are no separate loans for tuition fees and living costs (maintenance) –
instead, you can apply for a single loan of up to £27,265 (for courses
starting in 2021/22). This means that you will need to arrange payment of
your tuition fees directly to the University. The loan will be divided
equally across each year of your course and is paid in three instalments over
the academic year;
* It is not means-tested – therefore the amount available to you is not based
on your income or your family’s income. As with the Postgraduate Masters
Loan, there are no additional allowances such as Parents Learning Allowance
or Childcare Grant to help with childcare costs. So, if you need childcare
while studying, you will need to consider this within your budget.

Further information about the Doctoral loan including eligibility criteria and
how to apply can be found online*:

https://www.gov.uk/doctoral-loan

* The above information is relevant to students applying for support from
Student Finance England. Funding may differ for those who normally live in
Scotland, Wales or Northern Ireland, so please refer to your regional funding
body for further information prior to applying.

LOANS FROM OTHER PROVIDERS

Loans to help cover the cost of tuition fees and living costs may be available
from private companies such as banks or other specialist providers – however
please be cautious if considering this option to fund your studies. Each
provider will have their own eligibility criteria, interest rates and repayment
arrangements may vary and you may find you are unable to apply for both a loan
from the Government and another loan. Your credit rating may also be a factor
here.

BURSARIES AND SCHOLARSHIPS

You may be eligible to apply for a bursary and/ or scholarship, either from
university or from a charity or trust; they are unlikely to fund your full study
but may offer help towards specific costs such as fees or course materials. For
further details please visit the following websites:

> Bursaries, scholarships and awards

www.prospects.ac.uk/postgraduate-study/funding-postgraduate-study/scholarships-and-bursaries

Be aware that bursaries and scholarships may be limited to students enrolling on
specific courses or subject areas, and are usually subject to meeting certain
eligibility criteria, receiving an award cannot be guaranteed.

Social Work Bursary – There are a limited number of postgraduate Social Work
bursaries awarded by the NHS Business Service Authority for those studying on
the MA in Social Work course. Further information and eligibility criteria can
be found online:

https://www.nhsbsa.nhs.uk/social-work-students/apply-postgraduate-bursary

FINANCIAL ASSISTANCE FUND & EU HARDSHIP FUND

University hardship funding such as the Financial Assistance Fund/ EU Hardship
Fund may provide additional support towards your living and course costs,
however, please be aware that tuition fees cannot usually be considered
(eligibility criteria apply). However, receiving an award cannot be guaranteed,
and assessment criteria states that postgraduate applicants will need to show
that they have made reasonable provision towards the cost of their fees, living
and course costs before applying.

WORK WHILE STUDYING

Many postgraduate students also try to work while they are studying. This is a
great way of improving your CV as well as providing additional income. Speak to
Unitemps or other local agencies to see what is available.

> University of Northampton

For those studying for PHD often find work as associate lecturers, teaching and
marking the work of undergraduate students or as that of researcher. It will be
worthwhile discussing these opportunities with your course leader.

TAKING TIME OUT

Look at your budget and be honest about whether you have enough money to start
the course now. If your budget does not balance or there is no allowance in case
of emergencies, taking a break from your studies so that you can start saving
towards your next course may be the best option, especially if you are relying
on a Postgraduate loan as your main source of funding.

Although it can be frustrating to put your study plans on hold, it would be far
worse to have to drop out halfway through your course due to lack of funds, and
still be liable to pay it back when earning above the threshold. There is
usually no rush to begin postgraduate study – so if you are feeling a little
burned out after your final exams, taking time out can be beneficial. This way
you will be fully financially prepared as well as mentally ready to take on your
next challenge.

TALK TO US!

If you have any queries about postgraduate funding or budgeting, contact the
Financial Guidance team.

W: www.northampton.ac.uk/financial-guidance-team

B: www.moneymatters.northampton.ac.uk

E: Money@northampton.ac.uk

T: 01604 893299

Can-I-afford-to-study-at-Postgraduate-level-21_22Download
Author David LewisPosted on July 7, 2021January 13, 2022Categories Advice,
Funding, Money Advice, Prospective studentsTags Funding, Funding application,
masters loan, PHD, prospective students, teacher training

WORRIED ABOUT MONEY OVER THE SUMMER? THE SUMMER FUND MAY BE ABLE TO HELP!

If you are worried about money over the summer? The summer fund may be able to
help you. Additional funding from the University is available to support
continuing students over the summer break.

The past academic year has been difficult for many of us. The Covid-19 pandemic
and the implications from it have had a significant impact. If you’re worried
about your finances during the summer (10 July to 18 September 2021), you might
be eligible for help from the Summer Fund (Eligibility criteria apply).

Don’t wait until you have run out of money, the deadline is Friday 9 July 2021,
so apply now!

Funds are limited and there is no guarantee that you will receive an award, but
you won’t know unless you apply.

TO BE ELIGIBLE TO APPLY FOR THE SUMMER FUND, YOU MUST:

* Be a UK (‘Home’) student*,
* Be enrolled on a University of Northampton course (paying your tuition fees
to the University of Northampton)
* Have taken your full entitlement of statutory funding in 2020/21 from Student
Finance England (or your regional funding authority) and/or NHS or the
Learning Support Fund,
* And be continuing on your course in 2021/22!

(Other eligibility criteria may apply).

*EU Tuition Fee only students please see EU Summer Fund below.

WE ESPECIALLY ENCOURAGE APPLICATIONS FROM THE FOLLOWING GROUPS OF STUDENTS:

* Lone parents,
* Those who are care leavers or estranged,
* Those who have ill health/disabilities,
* Those with caring responsibilities,
* Those enrolled on courses which run throughout the full year (i.e. health
courses, intensive courses, etc)

However, you do not need to meet any of the categories above to apply.

Please complete the application form(including all relevant sections) and send
it to us at fgapplications@northampton.ac.uk with your supporting evidence (PDF
copies only) before the deadline.

I APPLIED FOR THE FINANCIAL ASSISTANCE FUND EARLIER THIS YEAR, CAN I APPLY FOR
THE SUMMER FUND?

If you have already applied to the Financial Assistance Fund in 2020/21 and are
due to continue on your course in 2021/22, we will send you a shorter Summer
Fund form to complete.

If you have already applied to the Fund and are enrolled on a long course such
as BSc Nursing, BSc Paramedic Science, etc, you will not usually need to
complete a new Summer Fund application as you will usually have already been
assessed over a 52 week period.

For further clarification, please contact the Financial Guidance team.

I AM A FINAL YEAR STUDENT, CAN I APPLY?

Unfortunately, final year students are usually ineligible to apply to the Summer
Fund, unless you are extending your course or repeating some of your study in
the 2021/22 academic year. To apply to the Summer Fund, please complete the
application form and provide evidence that you are continuing your studies.

HELP US TO HELP YOU.

Gathering together evidence may take time, but you should have all the
information required to hand, please see our FAF – get it right first
time information sheet for further guidance. Please be aware that the team can
only accept supporting evidence in a PDF format, and assessment of your
application will be delayed if we need to request further information.

Please note: The Fund is limited and awards will be allocated on a first-come,
first-serve basis. Receiving an award from the fund is not guaranteed.

DON’T DELAY, APPLY TODAY!

For further information about the Financial Assistance Fund Summer Fund, visit
the Financial Assistance Fund section of the Student Hub.

Apply for the summer fund

WHAT ABOUT STUDENTS FROM THE EUROPEAN UNION?

If you’re from the EU (and have applied for a Tuition fee loan from Student
Finance Services or a Postgraduate loan from Student Finance England), you may
be eligible to apply for the EU Summer Hardship Fund (eligibility criteria
apply). For further information about the EU Hardship Summer Fund, click here.

Apply for the eu summer fund

OTHER FUNDING SUPPORT IS STILL AVAILABLE!

Additional support may also be available to students applying for a diagnostic
test and/or paying a contribution towards DSA-recommended equipment, from a care
background, foyer or estranged students, or responsible for the care of a
relative due to disability or illness (eligibility criteria applies).

The final deadline for applications and supporting evidence is 9 July 2021,
subject to funds remaining available.

REAPPLY NOW FOR YOUR FUNDING FOR 2021/22.

If you haven’t already done so, reapply now for your student funding ready for
2021/22. The SFE deadline for continuing student applications is 25 June 2021;
reapply by this date to ensure you have your money paid on time for the start of
the 2021/22 academic year.

GET IN TOUCH.

If you have any queries about applying to our Funds, please get in touch by
emailing fgapplications@northampton.ac.uk.

For general student money related queries, please email money@northampton.ac.uk.

Author David LewisPosted on June 10, 2021Categories Advice, Funding, Money,
Grants and Bursaries, Student Finance NewsTags EU Hard, FAF, Financial
Assistance Fund, Money, Summer Fund

HOW TO SUBMIT SUPPORTING EVIDENCE TO THE FINANCIAL GUIDANCE TEAM USING ONEDRIVE.

1. Login to OneDrive using your University of Northampton sign in details.
(These are the same details you use to access NILE). Here is the link to the
OneDrive login page.

2. Create a folder on your University of Northampton One Drive account and name
it appropriately.

3. Upload all the documents that you need to provide to this folder. Make sure
you name all the corresponding documents correctly with a relevant name. Such as
David Lewis – Monzo Current Account – 1234 – May 2021. (By naming your documents
correctly and fully, it will allow for the Financial Guidance Team to be able to
process and review your evidence quicker). If possible, convert all of your
documentation to PDFs as it ensures that it will not change format or formatting
when opened on another computer.

4. When you have uploaded and appropriately named your required documents to the
folder. It is time to share the folder with the Financial Guidance Team so we
can access your supporting evidence. To do this you need to go back to the ‘My
Files’ section of you OneDrive and click on the icon next to you folders name
which shows and arrow leaving a folder.

5. This will take you to the send link menu, where you can determine how you
want to share the folder with the Financial Guidance Team. We recommend using
the ‘Copy Link’ function as it allows you to send from your email provider of
choice.

A screen grab showing the Microsoft OneDrive

6. Make sure to set your link settings to ‘People in The University of
Northampton with the link can view.’ If it is not automatically set to that, you
can can change it by clicking the arrow to the left of whom it is sent to. You
will then get a menu where you can select the relevant option and click apply.

7. You will then want to click on the copy link icon. This will create a URL
link which you will be able to copy and share.

8. All you finally need to do, is create your email to copy you link into.
Please include your student number and what you are providing the supporting
documentation for.

If you have any more questions about the submission of supporting documentation,
please contact the Financial Guidance Team.

Contact the financial guidance team

Author David LewisPosted on May 17, 2021May 17, 2021Categories Money Advice,
Money, Grants and Bursaries, Student Finance News, UncategorizedTags EU Hardship
Fund, FAF, Financial Assistance Fund, financial guidance, Supporting Evidence

FINANCIAL SUPPORT AVAILABLE TO YOU!

We know that in these unprecedented times you might be concerned about your
finances and looking at additional funding options. We’ve compiled all the
information that you will need about the additional funding you can apply for
through the University’s Financial Guidance Team in one blog post for you.

FINANCIAL ASSISTANCE FUND

If you’re a UK / ‘Home’ student, you can still apply to the Financial Assistance
Fund for support until the end of May. Please don’t wait until you have run out
of money to apply to the Financial Assistance Fund, apply now.

If you’re worried because your loan, grant or bursary doesn’t cover your
everyday living and course costs, then apply now to the Fund. We will compare
your income and your expenditure (including any changes of circumstances) over
the academic year and see if you show a shortfall.

If you are eligible, awards made range from £100 to a maximum of £4,500 and you
will not usually have to pay this money back! There is no guarantee that you
will receive an award, but you won’t know unless you apply.

For those wanting to apply for financial support over the summer period only,
the team hope to have the summer fund open from June, further details will be on
the website when this is available.

Please note: The Fund is limited and awards will be allocated on a first-come,
first-served basis. Receiving an award from the fund is not guaranteed

WHO CAN APPLY?

To be eligible to apply to the Financial Assistance Fund, you must:

* Be a UK (‘Home’) student.
* Be enrolled on an undergraduate or postgraduate University of Northampton
course for the current academic year.
* Have taken your full entitlement of statutory funding (including maintenance
loans) in the current academic year, from Student Finance England/ Student
Finance Wales/ Student Finance Northern Ireland/ Student Awards Agency for
Scotland and/or NHS funding (NHS Learning Support Fund for new healthcare
students).

You can find the full list of eligibility criteria on the Financial Assistance
Fund page.

To apply, you must complete the Financial Assistance Fund application form
(including all relevant sections) and send it to us with your supporting
evidence (PDF format only). The deadline for applications is the end of May, and
further information to support your application can be accepted until the start
of July, subject to funds remaining available.

Apply now for the financial assistance fund

HELP US TO HELP YOU.

We appreciate that gathering evidence for your application may take time,
however you should have all the information required already. For most
applications, the most time-consuming part is gathering copies of bank
statements. To help us assess your application quickly and to avoid us asking
for further information, please refer to the list of supporting evidence on the
application form. Below we have listed some top tips:

* Remember to include a copy of 3 months bank statements for all accounts held
by you (and for your partner if you have one). You may have many accounts,
some you may use often and others that you don’t use as much (such as savings
accounts), the team need to have a copy of bank statements for all accounts
held
* Ensure the bank statements clearly show your account name, account number and
sort code details, so that we can identify the account as yours. If your
statement doesn’t show all these details, you may need to submit further
information which shows this.
* If you have any transfers to other accounts, please ensure these transfers
are explained and ensure you have provided the team with a copy of the bank
statements for these accounts.

If your application is missing any evidence, the team will request this by email
and this will delay the assessment of your application.

ADDITIONAL SUPPORT AVAILABLE TO YOU.

You might also be eligible to apply for additional financial support through the
Financial Assistance Fund for the following:

* Applying for financial support towards a diagnostic test for those with
dyslexia or other learning difficulty.
* Applying for financial support towards the cost of the Disabled Students
Allowance (DSA) computer and/or software.
* From a care background, a Foyer (or other homeless project) or an Estranged
student.
* Responsible for the care of a relative due to disability or illness.

EU STUDENTS

If you’re from the EU (and have applied for a Tuition fee loan from Student
Finance Services or a Masters loan from Student Finance England), you may be
eligible to apply for the EU Hardship Fund instead (eligibility criteria apply).

FIND OUT MORE

The deadline for applications and supporting evidence is the start of July,
subject to funds remaining available.

Author David LewisPosted on April 27, 2021April 27, 2021Categories Advice,
Funding, Money, Grants and Bursaries, Student Finance News, UncategorizedTags
Care Background, Carers, Diagnostic Test, DSA, Estranged Student, EU Hardship
Fund, Financial Assistance Fund, Foyer, Student finance

MOTHER’S DAY 2021. WHAT SHOULD I DO?

Mother’s Day or Mothering Sunday falls on Sunday 14th March this year in the UK.
For many people, they will be spending their Mother’s Day away from their loved
ones even though restrictions are gradually starting to ease – as of Monday 8th
March you can meet one individual outside in a public space. However, for some a
virtual or digitalised Mother’s Day will be a thing. Throughout this Money
Matters Blog, we’ll give you some top tips and savings on what you can do for a
slightly different Mother’s Day.

CARDS

A card is the staple gift of all celebrations, be it a Birthday, Christmas or
Valentine’s Day – a card is a necessity. If you are planning on posting a
shop-bought card, you best be looking to post it very soon, as Royal Mail don’t
deliver post on a Sunday. If you are planning on posting First Class you will
need to have put it in a post box by Friday and for Second Class by Wednesday.
(Always remember to check the collection times on the Post Box, because if you
miss it, your post won’t be collected until the next day).

If you’re looking to find something more personalised or potentially funnier
than the standard shop bought card, have a look online. There are loads of
websites out there where you can personalise your cards with pictures or funny
messages. These websites run all year round, so you can get the card of your
choice for any celebration. Some of our favourite websites for personalised
cards are Funky Pigeon and Moon Pig. They will post it directly to your
recipient you needn’t worry about the stress of postage they’ll inform you of
the last day that you can order this with postage.

> Say thank you to your Mum this Mother's Day! 😂 pic.twitter.com/4izMovxqaI
>
> — Funky Pigeon (@Thefunkypigeon) March 3, 2021

FLOWERS

What says Mother’s Day more than a beautiful bunch of flowers being handed over?
For those of you living at home, you would normally be able to pop to a local
florist (however Covid-19 Restrictions may prevent you this year) or a
supermarket and pick up a beautiful bunch of lilies or daffodils. If you have
one of NUS’ Totum cards, you can get 10% off in Co-op, making some great extra
savings.

For those of you living away from home and needing to send something by post or
for those of you living at home and wanting to order something extra special,
There are a whole array of online florists out there, if you use the
StudentBeans app, you can find up to 20% off at eflorist.

There are loads of different online florists and great supermarket bouquets to
be found out there. However, don’t leave it to the very last minute and end up
with a wilted twig.

HAMPERS & GIFT SETS

If you are unsure of just one thing to get your Mum for Mother’s Day, why don’t
you get them a few different things such as a hamper or a gift set? You can make
your hampers and gift set reflective of what you want or what you know your Mum
would love? Be it chocolate, wine, bath stuff or even cheese. You can do
whatever you’d like with a hamper.

If you are currently living with your Mum, you can easily make your hamper, by
grabbing some of her favourite things from the supermarket or even venturing to
B&M to see what wonders they have available.

If you’re living away from home, ordering a hamper online to be delivered to
your Mum’s front door is probably the easiest thing to do. There are tonnes of
websites doing online hampers this year so you can be spoilt for choice.
Websites such as Not on the High Street have a whole array of different hampers
that you can order.

If you’re an avid online shopper and make the most of your Amazon Prime Student
account, you can find some amazing deals and hampers on there too and make the
most of the Prime next day delivery. Such as this Teamtime Delights Mother’s Day
Hamper.

PHOTO ALBUMS

In the digital world that we are living in currently, with high-quality cameras
built into our smartphones, we take more photos than ever before. But often they
get lost into the ether of our smart phone’s photo album never to be looked at
again. So why don’t you print these photos into an album?

Snapfish currently has 50% off on photo books allowing you to create a book of
memories that can be flicked through, wherever and whenever.

If you want to have constantly changing photos, why don’t you consider getting a
digital photo frame? These were all the rage a few years ago and allow for a
constantly changing slide show of photos. Which could be a great way to share
memories with your loved ones.

--------------------------------------------------------------------------------

Whatever you do this Mother’s Day in this somewhat strange time that we are
finding ourselves in, do what works for you! For many people, the Covid-19
Pandemic has brought financial hardships and difficulties so spending a large
sum of money may not work for you. Remember it is the thought that counts.

But always make sure to see if Student Discount is available as you could save
yourself a whole host of money!

Author David LewisPosted on March 8, 2021March 8, 2021Categories Advice,
Budgeting, Covid-19, Money Advice, SpendingTags Covid-19, financial guidance,
Money advice, mother's day, savvy shopping, Student Discount

UNIVERSITY MENTAL HEALTH DAY 2021 – MONEY AND MENTAL HEATH.

University Mental Health Day is a significant day throughout Universities in the
UK. For many, this past year of Covid-19 and its restrictions has had a
significant impact on their Mental Health. One element that can have a
significant impact on an individual’s Mental Health is their financial
situation.

For anyone struggling financially, be it because their Student Loan isn’t
stretching far enough, they’ve faced redundancy, been placed on Furlough because
of the Covid-19 Pandemic or they have been unable to find work , this can make
the management of their money considerably harder. For individuals with money
worries – this can make their mental health worse. It is somewhat of a vicious
cycle.

From Source.

Many students would usually find work within the hospitality sector such as
local pubs, bars, restaurants and night clubs or within the retail sector, as
this often fits alongside their studies. With these areas having been impacted
massively during the Covid-19 pandemic – with some areas not expected to re-open
until the middle of June, this has had a huge impact on the options available to
students. In yesterday’s budget announcement, it was announced that the Furlough
scheme would be extended until September, so many may face the continuation of
life on 80% of their normal income but still having to balance this against
their usual living costs.

However, for those who have not been on furlough and may have lost their jobs or
not been able to find work at all, University life may have been very
challenging over these last few months.

With so many 18-24 year olds facing a loss of employment and many of those being
University students,having an understanding of how your finances can impact your
Mental Health and being aware of the support available to you, is vital.

Many individuals who are experiencing difficulties with their mental health, may
feel anxious and isolated (especially so within the current climate) and may
find the management of their finances challenging. However, the University of
Northampton have a Counselling and Mental Health Team and Financial Guidance
Team who are here to provide information and support to help you. You can find
out more about the Counselling and Mental Health Team here:

Find out more about University Mental Health Day here:

University mental health day 2021

Please find below more information about the financial assistance and support
offered by the University.

HARDSHIP FUNDS

The University of Northampton has recently received funding from the Office for
Students (OfS) to help students who are struggling financially due to the impact
of Covid-19. There are two funds currently available to students at the
University of Northampton, which are:

1. The Office for Students (OfS) Covid-19 Hardship Fund
2. The Office for Students (OfS) Accommodation Hardship Fund

Both funds offer support of up to £500 per student and you can apply for both if
you meet the eligibility criteria. To find out more and to apply for these
funds, please visit the Finances section of the Student hub or click the buttons
bellow.

OFS Covid-19 Hardship Fund
OFS covid-19 accommodation hardship fund

The Financial Guidance Team also offers other funds such as the Financial
Assistance Fund and EU Hardship Fund. They also have funds to support Care
Leaver/Foyer/Estranged Students, a Carers Award, financial support for those who
require a diagnostic assessment as part of their DSA application and a DSA
top-up support (eligibility criteria apply). The team also has a partnership
with the local Citizens Advice office who can offer advice and information for
those with complex queries.

STUDENT FINANCE – HOME AND EU STUDENTS*

The majority of Home and EU students at the University of Northampton receive
some level of funding from Student Finance (dependent on their home region).
For some, their eligibility for funding may have potentially changed with
current circumstances, if you have had a change in circumstances and need to
find out more about how this may impact on you, you may wish to contact your
funding provider directly, please find details below:

Student Finance England

NHS Student Bursaries Team

Student Awards Agency for Scotland

Student Finance Northern Ireland

Student Finance Wales

*Those whose course started within the 2020-2021 Academic Year

DISABLED STUDENTS ALLOWANCE (DSA)

Students experiencing mental health difficulties may be eligible for DSA.
Students experiencing mental health difficulties may not identify as disabled;
however, for many experiencing mental health difficulties, it can be disabling
and have an impact on your access to education.

For more information about DSA, the eligibility criteria and how to apply,
please click here:

Money management and Mental Health go hand in hand. If you have any questions
about any of the above funding or want to find out more email
money@northampton.ac.uk.

Author David LewisPosted on March 4, 2021March 8, 2021Categories Advice,
Covid-19, Funding, Money Advice, Money dangers, Money, Grants and Bursaries,
Student Finance News, Uncategorized, University Mental Health DayTags Covid-19,
DSA, Funding, mental health, Student finance, University Mental Health Day,
University of Northampton

A COVID -19 ACCOMMODATION HARDSHIP FUND IS NOW AVAILABLE FOR ALL ELIGIBLE
UNIVERSITY OF NORTHAMPTON STUDENTS.

The University of Northampton has received money from the Office for Students
(OfS) to help support students who are struggling with the costs of their
student accommodation, as a result of the Covid-19 pandemic. The University of
Northampton Financial Guidance Team have therefore set up a new Accommodation
Hardship Fund.

The Office for Students (OfS) Accommodation Hardship Fund can offer support to
students who are renting student accommodation (both University Halls of
Residence or Private Sector accommodation) and who are facing financial hardship
because of the Covid-19 pandemic.

To be eligible to apply for this fund, you must meet the following criteria:

* You must be enrolled on a University of Northampton Higher Education course.
The Fund will be available to all Home, EU and International Students who are
enrolled on a full-time or part-time, Undergraduate or Postgraduate course or
studying with a University of Northampton Sub-Contract partner.

* You must be able to demonstrate that you have student accommodation costs to
pay. The Fund is aimed at those who cannot live at home and are currently
living in University of Northampton Halls of Residence or Private Sector
student accommodation OR those who are currently living at home but are still
paying rent for student accommodation.

* You must be able to demonstrate that you are in financial hardship. This
could be a loss of an income stream which you rely on, such as a loss of
employment or reduced working hours/furlough, you have been advised to
self-isolate by NHS Test and Trace or have incurred additional costs due to
Covid-19 and have access to limited funds. You will need to provide copies of
your bank statements to demonstrate your access to limited funds.

* You cannot apply for this fund if you have applied for and are eligible to
receive a rent rebate on your rental contract with the University of
Northampton Halls of Residence. All applications will be checked with the
Accommodation Team.

* You cannot apply for this fund if you are living in your own home (mortgage
or renting) and are therefore not paying additional rent for student
accommodation.

Please be aware that the OfS Accommodation Hardship Fund is limited and
applications will be processed in date order by the Financial Guidance Team.
Awards are restricted to one per student; up to a maximum award of £500.

To apply for the OfS Accommodation Hardship Fund you must complete the online
application form which you can find on the Student Hub:

Ofs Accomodation hardship fund application

For further information about this fund and other funds offered by the Financial
Guidance Team, please visit the Finances pages!

To allow the team to process your application as quickly as possible, please
ensure you have provided all your supporting documents. This includes a copy of
your tenancy agreement as well as a copy of bank statements for ALL the accounts
held by you as well as any other supporting evidence that can help your
application.

Many students are failing to submit all their bank statements, which means we
need to ask for further information and results in a delay with your assessment.
Please help us to help you, by providing all your information when you submit
your application.

The deadline to apply is Wednesday 17 March 2021. All application forms and any
supporting evidence must be received by this date and will not be accepted after
this date.

The team have already received a large number of applications. Funds are
limited, so please be aware that funds could be fully allocated before the
deadline date is reached.

If you would like to find out more about this fund or other support offered by
the University, please visit the University of Northampton Finances page:

Author David LewisPosted on February 26, 2021Categories Advice, Covid-19,
Funding, Money Advice, Money, Grants and Bursaries, Student Finance News,
UncategorizedTags Budget, Budgeting, Covid-19, FAQs, Funding application,
Student finance, Student money, Support

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