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The University of law students' Union

Financial Support at University

I know the cost of living crisis is putting a lot of pressure on students. So, as part of my Financial Campaign, I'm offering some clarity on the support funds that you can apply for via the university. I hope that having a single directory about financial support helps to clarify what support is available, and makes it easier to access. I've outlined the maximum payments made in the academic year 2023-2024 so that you can see what amounts are generally available. 

The Study Support Fund 

The Study Support Fund is designed to help with unexpected financial difficulties you might have during your studies at ULaw.

For 2023-23, support payments were £2,500 for full-time course and £1,250 for students on a part-time course. 

It's important to note that international students cannot apply to the Study Support Fund. 

 

The Digital Hardship Fund 

The Digital Hardship Fund can give you help to buy essential IT equipment for your studies. This might include a laptop, printer, noise-cancelling headphones or mobile broadband top-ups. The payments come via store credit. In 2023-24, the maximum award from the Fund was £1000. Also, International students cannot apply to the Digital Hardship Fund. 

 

The Graduation Support Fund 

The Graduation Support Fund can give you financial support if you need help with the costs of attending your graduation ceremony. This could help you with the costs of graduation gown hire, up to two guest tickets, up to £50 towards travel costs to the ceremony. To apply, you must have settled status in the UK (so you cannot have immigration restrictions on your leave to enter and remain in the UK). 

 

The DSA Equipment Top-Up Fund 

The DSA Equipment Top-Up Fund reimburses the £200 contribution to students who are eligible for assistive technology through Disabled Students’ Allowances (DSA). 

 

International Students' Emergency Fund 

This fund gives short-term financial support to international students if you experience a significant disruption to your funding whilst on your course due to an unexpected crisis or emergency situation. This could include natural disaster, civil unrest, conflict or some other emergency situation that means you are no longer able to receive funding from your home country. The maximum payment from the Fund in 2023-24 was £2500 for a full-time student and £1250 for a part-time student. 

 

UG Bursary 

You can apply for the Undergraduate Bursary if you start your studies with ULaw in September 2024 and January 2025. This bursary gives additional financial support to new full-time undergraduates who have a household income of “zero” (as calculated by your national student finance service). 

 

Care-experienced and Estranged Bursaries 

You can apply for a bursary of £2000 if you are a full-time Home (UK) student. 

 

Employability Support Funds 

The Employability Service offers two financial support funds: 

  • The Volunteer Bursary: a bursary of up to £500 to offset some of the financial burden of volunteering 

  • The Opportunities Fund: a bursary of up to £200 to cover the cost of employability or employment enhancing activities 

You must be an undergraduate student who pays ‘home’ fees, with a household income of below £42,875 a year (2023/24). 

 

ULaw Students’ Union Extra-Curricular Bursary  

In collaboration with the University’s Widening Participation team, the Students’ Union runs an Extra-Curricular Bursary scheme.  

You can get up to £100 to take part in a chosen activity.  

The Extra-Curricular Bursary is designed to help students who are struggling financially because of long-term financial constraints such as coming from a low-income household or being part of a specific group like being care experienced students, estranged students and refugees. Each application gets reviewed individually on the evidence provided. 

Examples of activities could be:  

  • Joining a choir or orchestra 

  • Membership of dance, drama, exercise classes or the gym 

  • New shoes or kit for running, sports, the gym, dance classes etc 

  • Cost of covering travel to a placement, work experience or volunteering  

If you are struggling with financial concerns and need support funding to and from campus, academic textbooks, day to day living, take a look at the bursary page on Elite: Financial Support Funding - Financial Support Funding | Rise 360 (articulate.com) 

 

If you'd like to apply for any of the above schemes, here are some useful contact emails:

Money and Housing Advice Team: moneyandhousingadvice@law.ac.uk

Disability Support and Inclusion Service: disabilitysupportservice@law.ac.uk

SUAdvice: SUAdvice@law.ac.uk

Widening Participation Team: widening-participation@law.ac.uk

Students Union: StudentsUnion@law.ac.uk

Pro Vice Chancellor for Students, Patrick Johnson: Patrick.Johnson@law.ac.uk

 

As part of this campaign, students got an online presentation from the Money and Housing team about Financial Literacy. 

The presentation explains the basic principles of effective money management i.e. draw up a budget, increase income and reduce expenditure. The presentation then covers how to create a budget – ways of doing this, tools to help you do this, key points to bear in mind when creating your budget. Then, it explores ways to increase income (e.g. employment, hardship funds), ways to reduce expenditure (e.g. student discounts, ways to save money when shopping, ways to save energy, council tax exemption). Finally, the presentation covers how to avoid getting scammed and sources of information about savings and investments.

You can check out the presentation here: https://studentsunion.law.ac.uk/resources/financial-literacy-campaign

You can also explore other materials promoted during the Financial Campaign below.

  • "Money: A User’s Guide" by Laura Whateley
    A practical guide to managing money, covering everything from budgeting and saving to dealing with debt and investing. It explains how to navigate the UK banking system, the basics of taxes, and how to make informed financial decisions. Whateley also addresses the emotional side of money and offers tips for dealing with financial stress.
  • "The Meaningful Money Handbook" by Pete Matthew
    This book provides straightforward advice on managing personal finances. It covers essential topics such as budgeting, debt management, saving, and investing, with an emphasis on setting clear financial goals and building a sustainable financial future. Matthew's practical tips help students develop a comprehensive understanding of personal finance.
  • "The Richest Man in Babylon" by George S. Clason 
    Offers timeless wisdom on wealth-building principles such as saving, budgeting, investing, and avoiding debt. Through engaging stories set in ancient Babylon, Clason teaches the importance of saving a portion of their income, investing wisely, and distinguishing between wants and needs.
  • "Your Money or Your Life" by Joe Dominguez and Vicki Robin
    It focuses on transforming your relationship with money and achieving financial independence. The book guides readers through steps to track their expenses, reduce wasteful spending, and align their financial habits with their personal values.
  • "How to Own the World: A Plain English Guide to Thinking Globally and Investing Wisely" by Andrew Craig
    This book offers a comprehensive guide to understanding and participating in global financial markets from a UK perspective. It covers the importance of diversifying investments across different asset classes and geographies, and provides practical advice on how to start investing with limited funds. Craig's focus on financial education makes complex concepts accessible to beginners.

Financial Terms Explained

  • Credit Score: A numerical representation of an individual's creditworthiness, based on credit history, debt levels, and repayment behaviour. It impacts the ability to obtain loans and the interest rates on those loans.
  • Emergency Fund: Savings set aside to cover unexpected expenses or financial emergencies, typically recommended to cover three to six months of living expenses.
  • Compound Interest: The process of earning interest on both the original amount of money (the principal) and on the interest previously earned. It causes investments to grow at an accelerated rate over time.
  • Diversification: The practice of spreading investments across various assets to reduce exposure to risk from any single asset.
  • Index Fund: A type of mutual fund or exchange-traded fund (ETF) designed to replicate the performance of a specific index, such as the S&P 500, by holding a portfolio of the same securities.

You can check out the below websites that offer discounts for students. 

I hope this resource helps!

Take care all, 

Huma Hasan

Co-President 2023-2024