Finance
As most students are aware, at some point during your time at university you will probably experience debt. This can be small amounts of debt on credit or store cards or it could be larger, more long standing debts. Some students are already in debt when they come to university, and this can be particularly difficult to deal with when you are trying to live off a student income as well as paying off some of your debts.
So what can you do if you feel that your debts are spiralling out of control? Remember, don’t panic and don’t ignore any letters that arrive, as this will only make your debts worse in the long term.
If you are in rent arrears, mortgage arrears, or owe money on your electricity and gas accounts you need to seek advice immediately. The SU Advice Centre has a debt management licence and years of experience in negotiating on students’ behalf. One advantage we have over other agencies is that our close working relationship with the University allows us to work with student services in alleviating immediate hardship.
Priority debts, non-priority debts, pro rata offers, admin orders, debt rehabilitation, bankruptcy! It’s a confusing minefield which is why we will meet with you and go through your circumstances to offer you the options that work best for you. Our understanding of student funding and benefits allows us to maximise your income and help you set a financial statement that works for you.
You can come along to a drop in session at the Union Advice Centre, Monday to Friday from 11 AM - 3 PM. Alternatively you can contact the Advice Centre by telephone on 01772 89 4880 or email on suadvice@uclan.ac.uk.
Budgeting tips coming soon
