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Money Matters

Budgeting for university might seem daunting, but this guide introduces the process of applying for financial support, planning your finances and managing your money while you study.

Money Matters

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Tuition Fees

You can find the Tuition Fees for your course on our online prospectus. No matter what the fees are for your chosen course, it is important to remember that you will not pay anything up front for your tuition if you take out a Tuition Fee Loan to cover the cost of your education: you will only start to begin repaying the loan after graduation once you are earning over £21,000.

You can check how much you will have to repay on the Student Finance Website.

You apply for this support through the central loans company for your country no matter which university you choose to study at, so for example, an English student will apply through Student Finance England. The arrangements do vary according to your country of residence, and you can find more information on the relevant website:

Remember: you need to apply for your tuition fee loan every year of your course

Living costs

You are also entitled to a Maintenance Loan to help towards the cost of living while you study. Depending on your household income (so usually how much your parents/carers or partner earn) you may also be entitled to a Maintenance Grant (which you would not need to repay). Both the loan and grant are dependent on your household income and whether you are moving away from home to study (see the table below for more information). Your eligibility for both loans and grants will be considered when you make your application for student finance.

The figures here are for English students starting in 2014, and may vary if you come from another country in the UK. All figures indicated are per year:

Student living with parents

Details correct as of 2014 entry. For 2015 entry, the Maintenance loan will increase by 3.34% in line with inflation.

Household Income (£)Maintenance Grant, paid in three installments, one at the start of each termMaintenance Loan, paid in three installments, one at the start of each termTotal from Student Finance EnglandMax Tuition fee loan (NB: not all courses will cost £9000)Max amount borrowed, excluding interest
£25,000 or less £3,387 £2,725 £6,112 £9,000 £11,725
£30,000 £2,441 £3,198 £5,639 £9,000 £12,198
£35,000 £1,494 £3,671 £5,165 £9,000 £12,571
£40,000 £547 £4,145 £4,692 £9,000 £12,845
£42,620 £50 £4,393 £4,443 £9,000 £13,393
£45,000 £0 £4,204 £4,204 £9,000 £13,204
£50,000 £0 £3,699 £3,699 £9,000 £12,669
£55,000 £0 £3,194 £3,194 £9,000 £12,194
Over £58,195 £0 £2,871 £2,871 £9,000 £11,871

 

Student studying outside of London and not living with parents

These details are correct as of 2014 entry. For 2015 entry, the Maintenance loan will increase by 3.34% in line with inflation.

Household Income (£)Maintenance Grant, paid in three installments, one at the start of each termMaintenance Loan, paid in three installments, one at the start of each termTotal from Student Finance EnglandMax Tuition fee loan (NB: not all courses will cost £9000)Max amount borrowed, excluding interest
£25,000 or less £3,387 £3,862 £7,249 £9,000 £12,862
£30,000 £2,441 £4,335 £6,776 £9,000 £13,335
£35,000 £1,494 £4,808 £6,302 £9,000 £13,808
£40,000 £547 £5,282 £5,829 £9,000 £14,282
£42,620 £50 £5,530 £5,580 £9,000 £14,080
£45,000 £0 £5,341 £5,341 £9,000 £14,341
£50,000 £0 £4,836 £4,836 £9,000 £13,836
£55,000 £0 £4,331 £4,331 £9,000 £13,331
£60,000 £0 £3,826 £3,826 £9,000 £12,826
Over £62,132 £0 £3,610 £3,910 £9,000 £12,610

Check what you are entitled to receive with the Student Finance Calculator

Student Support Package

At Manchester Metropolitan University, we offer a generous £1,000 per year of study Student Support Package for new UK full-time first year students starting their course in September 2015 from households with an income of up to and including £25,000.

For some healthcare professional courses such as Adult Nursing and Social Work, you may be eligible for an NHS bursary. You apply for this bursary separately, and will be invited to make your application by the NHS once you are holding an offer of a place on a relevant course. To find out more, including what you might be entitled to, visit the NHS website.

We do all we can to ensure you have the support you need while you study with us. If you do run into financial difficulty, you may be entitled to some additional support through the Access to Learning Fund. The fund is a limited amount of money that the university will either grant or loan to a student depending on their needs and situation. In order to qualify, you will have to meet a number of criteria, provide evidence and complete an application.

Metcard: your campus debit card

When you enrol at Manchester Metropolitan University you will be issued with a metcard. You can load the card with money to spend on campus accommodation, at food and drink outlets or for printing services on campus. If you qualify for our Student Support Package, you can also choose to have the card preloaded with amounts so you can use it throughout the year at university outlets and shops. You can even use your met card balance as a fee waiver.

Applying for Financial Support

Your application for student finance should be made according to the country you live in. These instructions are for English students, though the process is very similar for all countries in the UK.

  1. Create your online application at gov.uk/studentfinanceand use the Student Finance Calculator to check what you entitled to. The application system is open from February 2015. You should apply as soon as possible so you can be fully assessed for financial support. You do not need a confirmed place at university in order to apply. Before you start your application, make sure you have:
    • The course details of your first choice course (you can change this later if necessary)
    • Details of the university you have applied to
    • Your passport or birth certificate
    • National Insurance Number
    • Your bank details.
  2. You will be issued with a separate customer reference number which your parents will then use to log on and complete details of their income.
  3. Student Finance England may contact you or your parents to request copies of any further financial evidence they require.
  4. Applications will usually take 4-6 weeks to process. You can track the progress of your application by logging back in.
  5. You will be sent a student finance entitlement letter which will set out exactly what support you can receive. It is really important that you sign and return the declaration form that comes with the letter or you won’t be paid your loan.
  6. Any support you are entitled to will be paid to you 3 to 4 working days after you have collected your MMU ID card during induction/fresher’s week.
  7. Remind your sponsor(s) that they need to agree to share their information with the University. Also, don't forget to apply for student finance every year of your course.

Deadline: In order to have your financial support in place for September, you should aim to have your application completed by the end of May.

Part-time Work

Many students work part time while they study to earn some extra money to support themselves. You can find casual work advertised through our jobs4students scheme, and also through the jobshop at the Students’ Union.

We asked some of our students how they have managed to juggle their time between studying, working and socialising.

‘Whilst at university I tried to have a part time job but I found it quite difficult to manage my time. To earn some money, I signed up to be a Student Ambassador, which is casual work around Open Days and other university events. This made it a lot easier to balance my university work and social life. I think it is a good idea if you can keep a part time job or casual job at home as well so that you can earn extra money in the holidays.’

— Hayley Gould, Spanish and Teaching English as a Foreign Language

‘I only work outside of term time which gives me a bit of extra cash going into the next term. During term I don't work so I can have more time for studying and socialising. I prefer to budget my money rather than to have a job and no free time.’

— David Engles, Computer Games Technology

‘I plan my week out carefully to make sure I fit everything in. For example I work on Monday and Tuesday, then I have lectures on Wednesday, Thursday and Friday. I’m able to plan my hours quite easily to make sure I have enough time for studying and working as well as socialising in the evenings.’

— Priyanka Vaidya, Nutrition and Health

‘I find that because I have a job there are perhaps less opportunities to go out, but for me this makes nights out more enjoyable because I don’t go out every night of the week. It’s a good idea to take all the opportunities you can get for working in your university, whether it be paid or unpaid. I work for Jobs 4 Students, which pays very well, and it has given me opportunities that are quite unique. I recently worked on international welcome week gave me the chance to meet lots of different people and acquire new skills ready for the world of work.’

— Daniel Hall, Spanish and Italian

Budgeting for University

We asked some of our current students about how they budget for their weekly costs while they are studying. We also asked them for their hints and tips on how to make your money go further while you are a student.

‘As I have to live a long way from my family, I bought a National Express student pass. It saves a great deal of money when I need to travel home during holidays (a discount of about £20 to Truro and almost £100 to get to Sofia, Bulgaria).’

—Jacob Lee, Wildlife Biology

‘The one thing I have done that has helped me make the most of my money while in university is to go supermarket shopping with flatmates. If you shop on your own, you might not get to eat everything you buy for yourself before it expires, so by sharing we have cut down on wasted food.’

— Beatrice Lee, Business Administration with International Business

‘One of my best investments at university is my railcard (it was actually free with my student bank account!). You save 1/3 on rail travel across the UK and it's great for travelling to and from home. Sometimes I can get a return journey from Manchester back to Southampton as cheap as £26 thanks to the railcard!’

— Matt Donnelly, Business Management

‘I try to do a big shop in a supermarket rather than at convenience shops as my money goes much further. Also, instead of buying all the set texts I take them out at the library which can save a lot of money.’

— Christopher King, Business Management

‘I buy books from Amazon or try and get in touch with someone from the year above who has no use for the books anymore to save buying brand new ones every year. There’s an Oxfam on Oxford Road, which has quite a lot of second hand academic books, so you could always try there too.’

— Daniel Hall, Spanish and Italian

According to our students, a typical weekly budget (after accommodation fees) includes:

  • £22 Food
  • £5 clothes
  • £12 bus travel (weekly ticket, or termly ‘Unirider’)
  • £20 socialising
  • £5 gym membership
  • £5 laundry
  • £5 mobile phone credit

Total £74

Most of the students we spoke to also said they travelled home every month or six weeks, so you should also consider those costs when making your weekly budget

International Students

Tuition fees for International students are specified for each course on our online prospectus. You can find detailed information on the MMU International website.

EU students

EU students are subject to the same Tuition Fees as UK students, and financial support is dependent on your country of origin.

Irish Students should refer to Student Finance Ireland.

Part-time Students

A Tuition Fee Loan is also available for part-time students (though a maintenance loan for living costs is not). You apply online in the same way as a full time applicant, or by downloading an application form from Student Finance England. You can find more information on their website.

You may also be entitled to a Student Support Loan, which will be processed as a fee waiver against your tuition costs. See the Student Support Package document for more information.

Mature Students

As a mature student you are entitled to the same Tuition Fee Loan and Maintenance Loan or Grant as any other student. You may also be entitled to additional support to help with the additional responsibilities you might have. Student Finance England offer a Childcare Grant (CCG), Parents’ Learning Allowance (PLA) and Adult Dependants’ Grant (ADG). Your eligibility, and the amount you are entitled to, depends on your individual situation. Once you submit your finance support application, the student loans company will assess your eligibility for this support, and may request some additional information from you. You can find out more from their quick guide to Dependants’ Grants.

A Special Support Grant (SSG) is available for students who can claim income-related benefits. The amount you are entitled to is dependent on your situation and will be assessed as part of your application. The grant replaces the maintenance grant for qualifying students.

Students with disabilities

If you have a disability, you should make contact with our Learner Development Service who will work with you on your PLP (Personal Learning Plan) to assess your needs. Depending on your needs, you may be entitled to a Disabled Students’ Allowance (DSA). We can provide you with support in completing your application for the DSA which is provided by the government, and does not need to be repaid. The allowance is not dependent on your income, only your needs, and is paid on top of your other student finance support. It is available to all students including part-time and mature applicants. You can find out more information on the government website for the DSA.

Care Leaver Bursary

In addition to MMU's Student Support Package or the MMU Bursary, Care leavers at MMU can also apply for an additional cash bursary of £1000 per year. Applicants must be under 25 years of age and a UK full –time undergraduate student and will be required to provide proof of their Care Leaver status. Applications are made direct to the university once you have enrolled – further information is available on the Student Finance website or email studentfinance@mmu.ac.uk.

 

£3,000 Student Support Package

You could be entitled to our £1,000 per year full-time Student Support Package.

Find out more

Sports Bursary

Are you an athlete playing sport at a national level? Benefit from a range of financial and training support.