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Managing your money - final year students

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Month by month finance tips and advice for final year students

September

Plan a budget, share utility bills and other cost saving ideas.

October

1st loan payment, funding delays and council tax exemption.

November

Support with your finances and extra help from the DMU Support Fund.

January

2nd student loan payment, booking easter travel and postgraduate funding.

February

Support with your finances and extra help from the DMU Support Fund.

March

Apply for jobs and support with final year finances

April

Final student loan payment and planning for graduation.

June

Claim benefits, getting refunds and repaying your student loan

Please note: This content was written with undergraduate home students in mind. If you are an International student please contact Student Finance and Welfare or International Student Support directly for further advice and guidance.

September

Put together a budget

Make sure you've got your budget in place for the start of term. Contact us or make an appointment with a Money Doctor if you need any advice on how to do this. Budgeting Tips on the Monday Advice Service website might be helpful too.

Share utility bills for your house

If you plan to share a student house, you and your housemates need to be jointly responsible for all the utility bills. Save the Student! have a useful guide on setting up, splitting and managing utility bills. TIP: Make sure to take meter readings when you move in and submit them to your provider, you only want to pay for what you use.

16-25 Railcard

If you think you’re likely to be travelling a lot over the next few months, you might want to buy a National Rail 16-25 Railcard which gives a 1/3 off ticket prices. Don’t worry if you’re over 25, you can still get the rail card if you’re a full-time student. Make sure to check the eligibility details.

Young Person’s Coachcard

Prefer to travel by coach? National Express offer the Young Person’s Coachcard for 16-26 year olds. Again, it gives a 1/3 off ticket prices.

Worried about the cost of text books?

Why not buy second-hand? Save the Student! have lots of great ideas on how you can save money.

October

First student maintenance loan payment

Your first instalment will be paid on the first day of term, if you have completed your registration on time. Remember, if you're a final year student, you'll get slightly less funding compared to previous years, so it’s even more important that you manage your budget. If you'd like support with managing your money, book a Money Doctor appointment.

Delay in receiving your student funding

If you experience a delay in your student funding and are struggling with your finances we may be able to help. Book a 15-minute Quick Query appointment, a 30-minute Money Doctor appointment or contact us via email. Despite the delay, you should still be able to register as a student. The University may also be able to offer short-term financial support depending on your circumstances and eligibility.

Council Tax Exemption

Full-time students are exempt from paying Council Tax. Download your exemption letter from the My Documents tile on MyDMU.

Get your TOTUM Card

TOTUM is the only student discount recommended by the National Union of Students. Make sure you ask everywhere you go if they offer student discount.

November

Get support with your finances

November might be when you start to notice your bank balance getting low. If this happens to you, try not to panic! Book an appointment with a Money Doctor who can help you review your budget and make sure you're receiving all the funds you're eligible for.

Need some extra financial support?

Consider applying to the DMU Support Fund. The Fund helps with general living and course-related costs. Please make sure to check the eligibility criteria online before applying.

January

Sell any unwanted Christmas presents

If you’re looking to boost your finances in the new year, selling any unwanted gifts might help.

Second student maintenance loan payment

The second instalment is normally paid in January. Check your student funding Notification of Entitlement Letter for the exact date.

Book your Easter travel early

If you’re planning to travel home at Easter, booking your train ticks early could save some money. Cheaper train tickets are usually released 12 weeks in advance.

Research postgraduate funding

Thinking about postgradaute study? Now would be a good time to start researching the funding available. Have a look at our Postgraduate funding webpages and the Government website for more information.

February

Need some extra financial support?

Consider applying to the DMU Support Fund. The Fund helps with general living and course-related costs. Please make sure to check the eligibility criteria online before applying.

March

Apply for jobs

Now might be a good time to start thinking about life after DMU. Make an appointment with DMUWorks for careers advice and guidance. You might also want to start thinking about the tax system and how you will be taxed on future employment. The Low Incomes Tax Reform Group have a number of helpful Tax Guides for guidance.

You might also find the Tax mini-course on Blackbullion helpful. Balckbullion is an online financial skills platform which we have partnered with to help develop student finance skills.

Review your final year finances

Remember final year students get slightly less Maintenance Loan than previous years. If you’re not sure you have enough to last, book an appointment with a Money Doctor who can help you review your budget and make sure you're receiving all the funds you're eligible for.

April

Final student maintenance loan payment

The final instalment of the academic year will be paid shortly after Easter.

Plan for graduation costs

If you’re graduating this summer, there are likely to be things you'll need to pay for to attend ; such as: tickets, your robe, some smart clothes and photos. Remember to work these costs in to your budget

May

Need some extra financial support?

Consider applying to the DMU Support Fund. The Fund helps with general living and course-related costs. Please make sure to check the eligibility criteria online before applying.

June

TV Licence Refund

You might be able to get a refund on some of your TV Licence if you’re moving out of student accommodation over the summer. Visit the TV Licensing webpages for more information.

Apply for government benefits

When your course finished you may be able to claim some Government benefits. The Benefits Calculator will give you a good idea what you might be eligible for.

Sell your unwanted Uni stuff

Now’s a good time to think about selling your text books. Save the Student! have some great tips on how to do this.

Reclaim any overpaid utilities and deposits

When you move out of your rented accommodation check that you haven't overpaid for utilities and that you've got your house deposit back.

Repaying your student loan

Not sure about how to repay your student loan? The Student Loan Repayment website has information about the repayment system.

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Be money smart

DMU have teamed up with financial education specialists Blackbullion.

Learn more

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