Debt advice
Money Problems
During your time as a student there are many challenges that you will come across as a student, in this day and age one of the biggest challenges is making ends meet financially.
Many students often find themselves in financial trouble while studying, some end up with mountains of debt and some lose control with regard to credit cards and loans.
Essentailly there are two types of debts these are:
Priority debts
Credit debts
The difference between these two debts are detailed below
Priority debts
These types of debts are ones which will need to paid quickly or you may lose something or will be to your future disadvantage, debts such as:
Water rates
Gas and electricity
- Rent arrears *
Council tax
The Information and Advice centre can go through a personal budget sheet with you to work how much you can afford to pay your debts back monthly priority debts will be dealt with the most importance.
Credit Debts
Theses debts are where the creditor cannot take certain things away from you i.e. your house or home, credit debts include:
Credit cards
Catalogue debts
Personal loans
Bank loans
Personal debts i.e. with friends
If you find you cannot pay these debts, then it may be worth approaching the information and advice centre, as we can work out from your income and expenditure what you can afford to pay back each month we will then make this offer to the credit company that you owe.
Financial help from the College
The college uses the access to learning fund to give extra support to undergraduate home students who need it, priority for the fund is typically given to matire students, students from low income families, students with dependents, disabled students, care leavers and final year students.
Students who apply will have to have been given their maximum loan entitlement to be eligible to apply and also will have to exhausted all other means of income.
Postgraduate Hardship Fund
The College may also be able to help some postgraduate students suffering fanancial pririty is given to students with children and self financing post graduate students.
You will have to show that you made eforts to fund your studies before applying.
In any of these cases it is worth approaching the Information and Advice Centre for initial advice:
Nigel Cooke
(020) 7594 8067
IC Extension 48067
