Alternative Ways to Fund Your Degree
University can be an expensive endeavour. You might not be eligible for Student Finance, and if you are, it still might not be enough to cover your basic living costs (let alone having fun!). However, there are so many alternatives out there that can help shoulder the financial burden of your degree. Take a look at just some of the options below and you are sure to find something that will work for you.
Scholarships and bursaries
Many universities, charitable organisations and businesses will offer scholarships and bursaries to help fund your degree. Some of these will be recurring payments, while others might be a one-off lump of cash, so it's worth doing your research before you apply. Most scholarships and bursaries will have strict entry requirements, and many will be quite competitive, so if you're relying on money from them, it's worth applying to more than one. Do your research well in advance and make sure you get help from your friends and teachers when applying.
Government grants
As well as Student Finance, the government will also offer financial support for specific living situations, such as if you have a child or other dependent, or if you are living with a disability. You may also be entitled to an NHS bursary if you are studying a medical degree and have plans to work in the NHS once you graduate. The rules around this are regularly changing, so make sure you do your research.
Side-hustles
Side-hustles are a great way of making money when you're at uni because you can make it work around your degree schedule. It does require a certain level of organisation and dedication, but it can make all the difference to your bank balance. If you have a particular skill such as speaking a second language or playing an instrument, why not teach classes? You can advertise with flyers in your local community spaces or online such as on social media. There are even many websites that allow you to create a profile and advertise your classes on there, but these will take a cut of what you earn, so it might be worth sticking to more traditional methods. Having a hidden talent isn't the only way to make money in your free time! If your degree is very coursework based, there are plenty of opportunities to sell your work online or at local markets. This is a fantastic way of making money, building your portfolio and making the most of the resources available to you at university. Finally, if you have a business idea that you plan to set up after you graduate, why wait? Businesses can take a few years to get off the ground, so starting while you're at uni will give you a bit more time to develop it.
Weekend jobs
Weekend and evening jobs are a popular way of earning some extra cash during your degree. The pay isn't always great, but the money is regular and there are often opportunities to pick up extra shifts during the holidays. Lots of places will give you added benefits to working there, such as staff discounts, leftover food if you're working in a cafe or free tickets if you're working in a cinema. If you know you're already doing something a lot, why not work there and save money purchases while earning money while you work? Win-win!
Summer jobs
If your degree is particularly intensive, or you know that a weekend job just isn't going to be feasible during term-time, consider getting a summer job. Lots of major companies offer paid summer placements, and these will not only give you valuable experience in your desired field but they may also give you a slight advantage if you want to work at that company after you graduate. Summer placements are often highly competitive, so make sure you apply to more than one and get some help from your tutor when filling out the application forms to make sure you're showing your best self.