Financial Support Available to you!

We know that in these unprecedented times you might be concerned about your finances and looking at additional funding options. We’ve compiled all the information that you will need about the additional funding you can apply for through the University’s Financial Guidance Team in one blog post for you.

Financial Assistance Fund

If you’re a UK / ‘Home’ student, you can still apply to the Financial Assistance Fund for support until the end of May. Please don’t wait until you have run out of money to apply to the Financial Assistance Fund, apply now.       

If you’re worried because your loan, grant or bursary doesn’t cover your everyday living and course costs, then apply now to the Fund. We will compare your income and your expenditure (including any changes of circumstances) over the academic year and see if you show a shortfall.         

If you are eligible, awards made range from £100 to a maximum of £4,500 and you will not usually have to pay this money back! There is no guarantee that you will receive an award, but you won’t know unless you apply.  

For those wanting to apply for financial support over the summer period only, the team hope to have the summer fund open from June, further details will be on the website when this is available.

Please note: The Fund is limited and awards will be allocated on a first-come, first-served basis. Receiving an award from the fund is not guaranteed

Who can apply?

To be eligible to apply to the Financial Assistance Fund, you must:

  • Be a UK (‘Home’) student.
  • Be enrolled on an undergraduate or postgraduate University of Northampton course for the current academic year.
  • Have taken your full entitlement of statutory funding (including maintenance loans) in the current academic year, from Student Finance England/ Student Finance Wales/ Student Finance Northern Ireland/ Student Awards Agency for Scotland and/or NHS funding (NHS Learning Support Fund for new healthcare students).

You can find the full list of eligibility criteria on the Financial Assistance Fund page.

To apply, you must complete the Financial Assistance Fund application form (including all relevant sections) and send it to us with your supporting evidence (PDF format only). The deadline for applications is the end of May, and further information to support your application can be accepted until the start of July, subject to funds remaining available.

Help us to help you.

We appreciate that gathering evidence for your application may take time, however you should have all the information required already. For most applications, the most time-consuming part is gathering copies of bank statements. To help us assess your application quickly and to avoid us asking for further information, please refer to the list of supporting evidence on the application form. Below we have listed some top tips:

  • Remember to include a copy of 3 months bank statements for all accounts held by you (and for your partner if you have one). You may have many accounts, some you may use often and others that you don’t use as much (such as savings accounts), the team need to have a copy of bank statements for all accounts held
  • Ensure the bank statements clearly show your account name, account number and sort code details, so that we can identify the account as yours. If your statement doesn’t show all these details, you may need to submit further information which shows this.  
  • If you have any transfers to other accounts, please ensure these transfers are explained and ensure you have provided the team with a copy of the bank statements for these accounts.  

If your application is missing any evidence, the team will request this by email and this will delay the assessment of your application.

Additional support available to you.

You might also be eligible to apply for additional financial support through the Financial Assistance Fund for the following:

EU Students

If you’re from the EU (and have applied for a Tuition fee loan from Student Finance Services or a Masters loan from Student Finance England), you may be eligible to apply for the EU Hardship Fund instead (eligibility criteria apply).

The deadline for applications and supporting evidence is the start of July, subject to funds remaining available.

Seven steps to take if you’re worried about money

We hope you are enjoying your studies at the University of Northampton, but we know that many students have problems managing their money, especially at the Autumn mid-term point – which if not resolved can negatively affect both your ability to get the most out of your course and student life in general.

The next Maintenance loan payment is not due to hit bank accounts until early January, so if you’re currently feeling a little short or wondering how to stretch your finances over the next two months, here are seven steps you can take now:

Continue reading “Seven steps to take if you’re worried about money”

Can I afford to do a Masters?

So you’ve finished your course – what’s next? Studying for a Masters degree or other (postgraduate) course is a popular choice – whether you loved your course so much that you’d like to carry on, you’ve decided that you need another qualification for your desired career, or even that you’d like a bit more time at Uni before deciding what to do next, there are plenty of exciting study options available.

However, funding for a Masters differs from what’s available for undergraduate study – before enrolling on your dream course, it’s definitely worth taking some time to plan how you’re going to fund yourself for the next year of study – if you don’t have savings, or family who are wealthy and/ or generous enough to offer support.

Continue reading “Can I afford to do a Masters?”