Living Costs, Discounts, Budgeting & Debt Advice
In addition to tuition fees, students encounter a range of living costs including rent, bills, food, travel and socialising.
The money available to students is usually limited, so budgeting is a crucial skill to have, both before and during their course. In the case that a student falls into debt, it is crucial they access debt advice early on.
The table below provides an example of how your living costs might look while studying at UAL in 2016-17.
Note that some of the items below (such as course materials and travel) will only be outgoings during term time which is approximately 31 weeks of the year.
Living in halls of residence
(51 week tenancy)
£ per week
Living in private rented accommodation
(52 week tenancy)
£ per week
|Bills and internet||0||10|
|Insurance and TV Licence||5||5|
|Toiletries and laundry||10||10|
When using this information, it is important to note that:
- Accommodation is likely to be your biggest cost. Students who apply for UAL halls of residence, and subsequently receive an offer of a room, must pay a deposit, advance rent and the administration fee in order for their room to be secured. This payment may be due soon after the offer of the room and several months before the start of the course (and before receiving any Student Finance, if eligible). If you have any questions about these halls costs contact Accommodation Services.
- For undergraduate students starting in the 2016-17 academic year who are eligible to apply for funding from Student Finance England, the maximum Maintenance Loan is £10,702 for the year
- The amount of your living costs will depend on a range of factors, including personal choices about how to spend your money. Some savings can be easily made by adjusting your spending, getting cheaper deals on things like phones and utilities and making use of student discounts (see Discounts section below).
- Budgeting is a necessary skill for all students – in an ideal world you would balance your expenditure against your income. The headings in these tables can help you work out your own expenditure. See the Budgeting section below for some tips.
- Although in the past a TV Licence was only required if you watch or record programmes on any channel as they are being shown on TV or live on an online service, from 1 September 2016 you will also need to be covered by a TV Licence to download or watch BBC programmes on demand, including catch up TV, on BBC iPlayer. See the TV Licensing website.
In the Living Costs section above, you will see that it is very likely that there will be a considerable gap between any funding you may receive and your living costs.
Although students tend to focus on maximising their funding and other streams of income (e.g. part-time employment), which is of course very important, many do not manage their spending carefully so that they can live within their means and avoid getting into financial difficulty whilst studying. Financial difficulties can affect students’ wellbeing and result in disruption to their studies, sometimes to the extent that they need to take time out of their course.
The following resources will assist you to plan your budget, thereby balancing your income and expenditure. You can use these in advance of, and during, your studies.
Budget planning tools
- Budget Tracking Spreadsheet, by Save the Student
- Student Calculator, by Brightside (for students with Home/EU fee status)
- International Student Calculator, by Brightside (for students with International fee status)
Minimise your spending
- Teen Cash Class, by Money Saving Expert (suitable for all ages)
- The Demotivator, by Money Saving Expert
- Money Management Tips, by Brightside
- Commonplace, by UAL students
In the unfortunate case that a student falls into considerable debt, it is crucial that they seek advice immediately.
The Student Advice Service has specialist qualified debt advisers who provide free, confidential and impartial advice and ongoing support to help students to:
- Manage repayments
- Regain control over their finances
- Stop getting hassled by creditors.
They do this by helping students to:
- Find out how much they owe, whether they are liable for all of it, and whether the amount can be reduced
- Prioritise their debts
- Produce a common financial statement
- Negotiate repayment plans with creditors
- Explore other options that are available, depending on the level of debt the student has
- Maximise their income
- Budget and carefully manage spending
- Explore ways of decreasing outgoings (e.g. changing utilities provider, prioritising spending)
- Understand credit rating and how it is impacted by debt.
Students may be eligible for a range of discounts while they study, which can be useful in keeping costs down and managing a tight budget.
Always check that you meet the detailed eligibility requirements of a discount scheme before you rely on it.
Council Tax exemption
See our Council Tax page.
Student Oyster card
Students on full-time courses and some part-time courses can get discounts on public transport in London.
18+ Student Oyster photocard
The 18+ Student Oyster photocard provides a discount of 30% on weekly, monthly and annual Travelcards, and Bus & Tram Pass season tickets. Eligible students can apply on the Transport for London website after enrolment.
Students who do not want to buy weekly, monthly or annual Travelcards may still be able to save money. If you have a 16-25 Railcard (see below), you can get a 34% discount on off-peak pay as you go fares and off-peak daily caps on Tube, DLR, London Overground, TfL Rail and most National Rail services in London. Just visit a Transport for London Visitor Centre with your 16-25 Railcard to add the discount to your 18+ Student Oyster photocard.
16-18 Zip Oyster Photocard
The 16-18 Zip Oyster Photocard may be an option for students aged 16-18.
Anyone aged between 16 and 25 can apply for a 16-25 Railcard to save one third on National Rail fares.
Students aged over 25 may also eligible if they are on a full-time course and some part-time courses. See information for students aged over 25.
Eligible students can apply for an NUS Extra Card, to get student discounts in a range of shops, and on a range of products and services including food and drink, entertainment and health and fitness. You will need to be enrolled on your course to apply.
UAL students can get discounts on a range of IT products, including Apple computers and Microsoft Office. Current students can log in to MyArts for full information.
The Student Advice Service is available to provide further information and support on financial matters related to your course.