There can be a lot of changes to consider with your financial situation once your course is over. Planning to continue your studies? Moving into the world of work? Need advice on saving, borrowing and credit? This page is here to help.
Student finance repayments
It is worth considering how your student finance repayments will work after graduating from your undergraduate course. To check the exact repayment details on your type of loan, you can visit the Government website.
If you go overseas for more than three months, you will be subject to the repayment threshold for the country to which you have moved. These thresholds are based around the cost of living.
You can see your financial options, including potential loans available, on our Money Matters webpages. The Postgraduate Loan is paid directly to you which means you would have to organise the payment of your tuition fees from this loan by liaising with the University. The loan might not be enough to cover all of your expenses, so you might want to think about other ways to supplement your income, such as a part-time job or other sources of funding.
Postgraduate doctoral loan
Since 2018/19, both the English and Welsh governments have provided a ‘contribution of costs’ loan for eligible doctoral degree courses.
It is important to note that repayment arrangements for postgraduate loans are different to those of undergraduate courses.
Households where everyone is a full time student are exempt from Council Tax. You can find out more on the gov.uk website.
After you leave university, your Council Tax Exemption certificate will run out. This is usually on the official last day of your course, rather than on your graduation date.
If you live alone, you might be eligible for a Council Tax discount. Discover more and see if you’re eligible by visiting gov.uk.
Money you earn from being employed or self-employed is classed as taxable income and may be high enough to attract income tax and National Insurance contributions. More information on tax codes can be found on the gov.uk website. You can also take a look at this guide from the Money Advice Service on how much tax and National Insurance you should be paying.
Some people might be classed as self-employed and you can find out more information on the tax implications of this in the Money Advice Service guide.
We are here for you
The Money Advice team offer virtual and telephone appointments, which can be booked 72 hours in advance. Appointments are for 30 minutes. If needed, a follow-up appointment will be arranged.
The team can offer guidance on all money-related matters including student funding, they can help with personal finances and provide advice on the Student Support Fund.
Every employer in the UK that employs at least one person has a compulsory duty to automatically enrol eligible workers into a pension scheme. The employer must pay money into the scheme as well as the employee.
You can find out more information about this online.
To find out your eligibility for state benefits, visit the Turn2Us webpages.
Car finance
Car finance is a personal unsecured loan. Before committing to anything, it is worth shopping around and ensuring that you understand the terms and conditions. Take a look at the links below to help you make an informed decision.
Setting money aside for savings, no matter how small the amount, can help you build a foundation for the future. However, it is important to remember that repaying expensive debts before starting to save could well be a better option.
The links below offer objective guidance on the best saving options available.
You may be looking for a mortgage now or at some point in the future. There are many things to consider before taking on a mortgage, including savings, gathering a deposit, fees and credit reports.
There are some useful government-led initiatives for supporting first time buyers with a potential 25% bonus when saving for deposit. The links below are useful places to start when thinking about this.
It is also important to consider other costs when purchasing a property. The Money Advice Service has a useful guide on overall buying and moving costs.
Credit reports
It is worth checking your credit report when applying for a mortgage, loan, or authorised overdraft as many lenders check credit reports. If needed, you could also look into potentially free and simple ways to boost your credit score.
