| Financial capability is essential not just when at university but for the whole of life; it combines being able to budget income and expenditure with planning for future spending and life events, amongst other things. The Student Welfare Advisers are taking part in the FSA project called Money Doctors, the aim is to improve financial capability of students in higher education, there is lots of information on the Student Support Office web site to help with financial capability. Below are some of the main considerations when your son or daughter is entering university. |  |
Budgeting is essential. It is extremely useful if a student has some income which they can use to buy certain items, this will help them develop budgeting skills. The money can either come from you or from their wages if they are working. It helps if they are responsible for some essential and non-essential things that are needed for day to day life; for example toiletries, clothes, or presents. If you can also try to help them make a budget for their first year at university this will start a very useful life skill.
If they haven't already got one they will need a bank account. The account will need to be one that accepts direct debits so that loan payments can go in to it. There are a number of banks that offer some sort of 'freebie' to tempt your son or daughter to open account with them, try to encourage them to look at the terms and conditions i.e. is there a free overdraft and how much is it? How much it will cost if they go beyond the agreed overdraft limit? They may also consider accessibility, there are a few of the main high street banks in Heslington village and the cash machines on campus are accessible by most of the main banks. A lot of the broadsheet newspapers have articles comparing the offers from the banks.
Some students choose to work part-time whilst they are at university and York has plenty of opportunities for students who wish to work. Students work for a variety of reasons: to improve their finances, or for career development. Doing some part-time work can be very useful it helps with time management and prioritising work loads, however we would not recommend students work more than 16 hours per week and in some departments, especially the sciences, students find working very difficult due to the academic workload.
We find some students never have enough money, they have so many things they want to buy and maintain: a busy social life; clothes; mobile phones; books and academic materials; to support themselves some students choose to work. In general working part time is a good thing as long as it does not interfere with academic work.
If you are giving financial support it is most beneficial to give it in a defined and regular way, for instance, either a regular allowance; paying for accommodation; the mobile phone bill; or paying for some insurance or their television licence; this helps with budgeting and financial capability
York University Careers Service has Uni Jobs this is a forum for employers to advertise jobs that would suit students. Iit is important that your son/daughter is careful to balance the demands of a job in the short term while not losing out on the long term goal. If you think they are working too hard, or you cannot afford to give them the financial support you have been assessed to contribute, it is important they contact a Welfare Adviser.
University of York Nursery. M ore and more students are coming to university with their families, if your son or daughters is a lone parent or has a partner and children the university nursery has places for students at reduced rates.
Students will certainly be using computers although it isn't essential,l many students like to have their own . The University has computing facilities with computer rooms in all the departments and colleges. If you are considering buying one specifically for them to bring to university, check they do not need any specific software on their machine.
Students seem to prefer laptops which are very portable and many areas of the university are WiFi enabled so that access to the internet and email is available without cables, again it is important that the computer is insured and that they never leave it anywhere unattended.
| On average students take around £4,500 worth of goods with them to university. this may seem a lot but not when you consider the computer, a printer, mobile phone, MP3 player, books and clothes. Some of their things may be covered on your own household insurance policy but you need to check with your insurer as policy terms vary. You can take out student cover for items the typical student takes to university. |  |
TV licenses are needed by students living in halls of residence. When they move into private sector accommodation if they are sharing a house with a group of friends then only one licence is needed for the house, we have a web page giving more information on tv licences that might be helpful.
Last updated July 08 sm40 Legal statement