University Mental Health Day 2021 – Money and Mental Heath.

University Mental Health Day is a significant day throughout Universities in the UK. For many, this past year of Covid-19 and its restrictions has had a significant impact on their Mental Health. One element that can have a significant impact on an individual’s Mental Health is their financial situation.

For anyone struggling financially, be it because their Student Loan isn’t stretching far enough, they’ve faced redundancy, been placed on Furlough because of the Covid-19 Pandemic or they have been unable to find work , this can make the management of their money considerably harder. For individuals with money worries – this can make their mental health worse. It is somewhat of a vicious cycle.

Flow chart diagram showing a circular flow between 'Poor mental health means managing money is harder' and 'Worry about money makes my mental health worse'.
From Source.

Many students would usually find work within the hospitality sector such as local pubs, bars, restaurants and night clubs or within the retail sector, as this often fits alongside their studies. With  these areas having been impacted massively during the Covid-19 pandemic – with some areas not expected to re-open until the middle of June, this has had a huge impact on the options available to students. In yesterday’s budget announcement, it was announced that the Furlough scheme would be extended until September, so many may face the continuation of life on 80% of their normal income but still having to balance this against their usual living costs.

However, for those who have not been on furlough and may have lost their jobs or not been able to find work at all, University life may have been very challenging over these last few months.

With so many 18-24 year olds facing a loss of employment and many of those being University students,having an understanding of how your finances can impact your Mental Health and being aware of the support available to you, is vital.

Many individuals who are experiencing difficulties with their mental health, may feel anxious and isolated (especially so within the current climate) and may find the management of their finances challenging. However, the University of Northampton have a Counselling and Mental Health Team and Financial Guidance Team who are here to provide information and support to help you.  You can find out more about the Counselling and Mental Health Team here:

Find out more about University Mental Health Day here:

Please find below more information about the  financial assistance and support offered by the University.

Hardship funds

The University of Northampton has recently received funding from the Office for Students (OfS) to help students who are struggling financially due to the impact of Covid-19. There are two funds currently available to  students at the University of Northampton, which are:

  1.  The Office for Students (OfS) Covid-19 Hardship Fund
  2. The Office for Students (OfS) Accommodation Hardship Fund

Both funds offer support of up to £500 per student and you can apply for both if you meet the eligibility criteria.  To find out more and to apply for these funds, please visit the Finances section of the Student hub or click the buttons bellow.

The Financial Guidance Team also offers other funds such as the Financial Assistance Fund and EU Hardship Fund. They also have funds to support Care Leaver/Foyer/Estranged Students, a Carers Award, financial support for those who require a diagnostic assessment as part of their DSA application and a DSA top-up support (eligibility criteria apply). The team also has a partnership with the local Citizens Advice office who can offer advice and information for those with complex queries.

Student Finance – Home and EU Students*

The majority of Home and EU students at the University of Northampton receive some level of funding from Student Finance  (dependent on their home region). For some, their eligibility for funding  may have potentially changed with current circumstances, if you have had a change in circumstances and need to find out more about how this may impact on you, you may wish to contact your funding provider directly, please find details below:

Student Finance England

NHS Student Bursaries Team

Student Awards Agency for Scotland

Student Finance Northern Ireland

Student Finance Wales

*Those whose course started within the 2020-2021 Academic Year

Disabled Students Allowance (DSA)

Students experiencing mental health difficulties may be eligible for DSA. Students experiencing mental health difficulties may not identify as disabled; however, for many experiencing mental health difficulties, it can be disabling and have an impact on your access to education.

For more information about DSA, the eligibility criteria  and how to apply, please click here:  

Money management and Mental Health go hand in hand. If you have any questions about any of the above funding or want to find out more email money@northampton.ac.uk.

A Covid-19 Hardship Fund is now available for all eligible University of Northampton Students.

Covid-19 has had a devastating impact on the entirety of the world. The financial implications of such have been felt by many, but especially by University Students. With many students struggling with the loss of part time work, being placed on a reduced income because of furlough and the increased expenditures that often come with being at home.  

The University of Northampton have received additional funds from the Office for Students (OfS) to support students through this extremely difficult and uncertain time. The OfS Covid-19 Hardship Fund, is available to all students studying at the University of Northampton, to support those who are facing financial hardship as a direct result of the Covid-19 pandemic. 

The OfS Covid-19 Hardship Fund can offer short term support only, with its intended purpose to be a contribution towards essential costs for those who have had a reduction in earnings or have lost their income, or those who have additional costs due to the result of the current pandemic. The Financial Guidance team will not consider requests for support towards the cost of fines issued by the University or the Police as a direct result of the Covid-19 pandemic. 

The Fund will be available to all University of Northampton Home, EU and International students who are enrolled on a full-time or part-time, Undergraduate or Postgraduate course or studying with a University of Northampton Sub-Contract partner. Please be aware that the OfS Covid-19 Hardship Fund is limited and applications will be processed in date order by the Financial Guidance Team. 

The awards available will be capped as follows: 

  • ‘Home’/UK students without dependents: £300 
  • ‘Home’/UK students with dependents: £500 
  • EU students who are eligible to receive the Tuition Fee Loan support only/International Students: £500 

To apply for the OfS Covid-19 Hardship fund, please complete the application which can be found on the Student Hub: 

The deadline for all applications is Wednesday 17th March 2021. The Financial Guidance Team will not be able to accept any applications submitted after this date. Please be aware that funds are limited and may be fully allocated before this deadline date. 

The Financial Guidance team have created a Frequently Asked Questions document, which can be found here:

Top 5 bad money habits to break

It’s very easy to fall into bad habits. You may have the best of intentions, but if you’re having a bad day, or your friends suggest an impromptu night out or trip to the shops, you could make a spending mistake – or three – which can make you run out of cash earlier than you thought.

Continue reading “Top 5 bad money habits to break”

Money dangers – Don’t be a money mule!

‘Fancy some easy money – with no strings attached?’

If you’re in the red and looking for easy ways to make money, you could be in danger of becoming a money mule.

Continue reading “Money dangers – Don’t be a money mule!”

Money dangers – beware of phishing!

It’s not long now till you get your next payment of student funding – which is something to smile about. However, did you know that more and more students are being targeted by fraudsters through phishing scams? Students are more likely to be contacted just before their funding is due to be paid. But there’s no need to panic – instead keep reading for more information on phishing and how you can protect yourself online.

Continue reading “Money dangers – beware of phishing!”

Money dangers – good and bad credit

As a student, you might be offered opportunities to borrow money – this is known as credit. Access to credit can be both positive and negative. Although it’s advisable to try to live within your means whenever possible, sometimes emergencies happen and in these circumstances, credit will be very helpful. Applying for credit can also help improve your credit rating in the future. However, you must remember that credit is not ‘free money’ – it always needs to be paid back – and if you splurge on credit, it can end up costing you a huge amount in interest and charges.

Here are some common credit options – some are okay (providing you don’t go overboard with your spending), and some are best avoided.

Continue reading “Money dangers – good and bad credit”

Money dangers – The lure of contactless

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Paying using a contactless card is so easy: as no PIN is needed, you just waive or tap your card or your phone when you get to the check-out and you’re done. If you regularly pay this way, you are not alone – it is reported that one-in-five card payments are now contactless. Shops, pubs and cafes love this as it speeds up the queues. So why can this be considered as a ‘money danger’? Continue reading “Money dangers – The lure of contactless”

Stressed about money. . ?

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Money may not buy happiness – as the old saying goes – but it can have a huge impact on your wellbeing. So if you are having financial problems, this can have a negative effect on all aspects of your life and study, including your health.

Continue reading “Stressed about money. . ?”