Financial Planning for UK Students | Study UK Guide

Table of Contents

Quick Facts

Cost Breakdown: London vs Outside London

Scholarship Opportunities

Scholarship Application Timeline

Part-time Work & Banking

Quick Facts

Cost Breakdown: London vs Outside London

Scholarship Opportunities

Scholarship Application Timeline

Part-time Work & Banking

Financial Quick Facts

£11k-20k+

Annual Living Costs Depending on Location

£12.71

Minimum Wage Per Hour (21 and over)

20hrs

Work Per Week During Term Time

£5k+

Scholarship Potential

Cost Breakdown: London vs Outside London

Location significantly impacts your budget. Here's a detailed breakdown to help you plan your finances effectively.

London Living Costs

Premium location, premium prices

£1,130-1,870

per month living costs

Premium

Outside London Costs

Great value for money

£790-1,400

per month living costs

Affordable

💡 Smart Budgeting Tips

Track every expense for the first month to understand your spending patterns

Use student discounts - they can save you 10-50% on many purchases

Cook at home more often - can reduce food costs by 60-70%

Consider shared accommodation to significantly reduce housing costs

Scholarship Opportunities

Don't miss out on financial aid! There are numerous scholarship opportunities available for international students. Here's your guide to finding and securing funding.

Merit-based

£2,000 - £10,000

High Availability

Academic excellence, outstanding achievements

Need-Based

£1,000 - £5,000

Medium Availability

Financial need, family income assessment

Country-specific

£3,000 - £15,000

Low Availability

Specific to your home country/region

Subject-specific

£2,500 - £8,000

Medium Availability

STEM, Arts, Business, etc

Major Scholarship Programs to Apply For

Chevening Scholarships

Full Funding

Due Soon

November

Commonwealth Scholarships

Full/Partial

Due Soon

December

University-specific

£2k-15k

Varies

Scholarship Application Timeline

1

Research available scholarships

12+ months before

2

Prepare application materials

8-10 months before

3

Submit applications

6-8 months before

4

Follow up and interviews

3-6 months before

5

Receive results and plan

1-3 months before

Part-time Work & Banking

Maximize your earning potential and manage your money effectively with part-time work and smart banking choices.

Part-time Work Guide

£868–1,017

Up to £868/month at 20 hrs/week (£10.85/hr minimum wage for 18–20s;
£12.71/hr if you're 21+ = up to £1,017/month)

Popular Student Jobs:

Campus positions

£10.85–13+/hr

High

Retail assistant

£10.85+/hr

Medium

Tutoring

£15–25/hr

High

Hospitality

£10.85+/hr

Medium

UK Banking Setup

3 documents needed

To open an account you'll need:
Passport (with eVisa share code),
Proof of UK address (tenancy agreement or utility bill), and
Proof of student status (offer or enrolment letter).

Popular Banks for International Students:
(*Interest-free overdrafts are subject to status - as an international student you'll often qualify for little or none in your first year.)

Santander

Overdraft up to £1,500*

Railcard, Cashback

High

Barclays

Overdraft up to £1,500*

No fees abroad

High

HSBC

No overdraft in
year 1

Mobile banking

High

NatWest

Overdraft up to £1,000*

Tastecard discount

Medium

Student Success Stories

"The clinical experience and international perspective have shaped me into a more confident doctor."

Ahmed Hassan

Medicine at University of Edinburgh

"My time in the UK broadened my perspective and gave me the skills to tackle global health challenges."

Omar Khalid

Healthcare Studies at University of Glasgow

Need Help?

Get expert answers and move forward confidently. We're here to help.

Chapter 2

Navigating Visas and Immigration

Chapter 4

Living in the UK

Start Planning