Money, Benefits, Student Discounts

Discretionary Funding

The University has different pots of money available to students that you can apply to if you are struggling financially, with some open to international and EU students. Each   discretionary fund  has different eligibility criteria. 

For some of the funds, you will need to make an appointment with a member of the Money Team (check the application terms!) Even if you don’t need to make an appointment as part of your application, you can make an appointment to speak to an adviser and discuss your options.

To make an appointment, call +44 (0) 1334 46 2720 or email   [email protected]

Money Mentors 

The Money Mentors are students who work with the Money Advice Team, who are offering tips and tricks on saving money. They have started a blog, and you can look out for more content on the Student Services Instagram.

Scottish Welfare Fund 

This fund available from your local council for those on low income. You do not need to pay these grants back. Within this Fund is the Crisis Grant, to help you when facing an unexpected emergency (such as a fire, flood, or redundancy), and increasingly you may be eligible if you cannot afford food or heating.

Benefits

You may be eligible for certain benefits depending on your income and individual circumstances. Please note that if you are on a visa, you may not be eligible for benefits (see more for   students, and for   non-students). 

Use the   benefits calculator  from entitledto or from Turn2us to find out what benefits you may be eligible for, if any. Please note that tools like these are not 100% accurate, especially for students, so you will likely benefit from speaking to   Citizens Advice. 

Debt Advice 

Being at University is expensive in any year, nevermind when the cost of living is so high. Many of you will be managing money on your own for the first time, and sometimes that means you can fall into debt.  Please note that student loan debts are different to other debts, and as such are dealt with in a different way.

Getting into debt is nothing to be ashamed of, and there are so many resources and supports out there to help you – please ask for help. MoneySavingExpert have a handbook on mental health and debt which you may find helpful.

There are various support services available to you:

StepChange charity offers free debt advice and can help you deal with your debts in a way that works for you. Advice is impartial, non-judgemental, and confidential. They can help with any sort of debt (excluding student loan debt). There is no impact on credit scores if people seek help from StepChange. They can be contacted at 0800 138 111 (Monday-Friday 8am-8pm and Saturday 9am-2pm). Online help is available 24/7.

Citizens Advice Scotland have online resources about debt. Advisers are also available to support people with debt issues. You can call Citizens Advice Helpline free on 0800 028 1456 which will connect you with their local bureau.

  • Cupar Branch
    • Money advice – 0345 1400 094
    • General advice – 0345 1400 095
    • Telephone opening hours - Monday-Friday, 10:00-15:00
    • Address
      • St Catherine Street, Cupar, KY15 4TA
  • Dundee Branch
    • 01382 214633 
    • Opening Hours (by appointment only) – Monday-Friday, 10-13:00, 14:00-16:00
    • Address
      • Dundee Central Library, Level 4 Wellgate Centre, Dundee, DD1 1DB

National Debtline offers free, impartial, expert advice, on debt issues. You can call on 0808 808 4000, use webchat, or use their 24/7 digital advice tool (phonelines and webchat open Monday-Friday, 09:00-20:00, and Saturday 09:30-13:00)

Money Advisers   at the University can also give you some advice about debt management.

Some  resources that may help you:

Best student bank accounts 

Money Saving Expert is a great website to look at for the latest information on anything related to money. They also have a page about the   best student bank accounts  that is updated every academic year. 

Some key points from Money Saving Expert:

  • Most banks only let Freshers apply for these accounts, and there may be some time limits on that. However, some banks let you switch later on, so definitely check!
  • Switch to a top   graduate account  after you finish university
  • Get the biggest and longest 0% overdraft you can – be careful to budget properly so you don’t spend more than your overdraft limit.
  • You will be credit checked when you apply for the account – find out more about   credit scores  and   building your credit history  (one easy way to improve your credit score is to get on the electoral roll!)

Top accounts for 2024/25

 

Santander Edge Student

NatWest Student and RBS Student

HSBC Student

Nationwide FlexStudent Account

0% Overdraft 

Years 1-3: £1,500 (provided you pay in £500+ every 4 months).

 

Year 4: £1,800

 

Year 5: £2,000

Start with £500 

From second term till end of Year 2: up to £2,000

Year 3+: up to £3,250

Year 1: £1,000

Year 2: Up to £2,000

Year 3+: Up to £3,000

Year 1: £1,000 (guaranteed)

 

Year 2: up to £2,000

 

Year 3+: up to £3,000

Perks 

4 year FREE 16-25 railcard 

£100 FREE cash and four-year Tastecard

If you’re already an HSBC customer and you switched to a student account before 1 July 2024, you can get £125 FREE cash if you use your debit card 5+ times within 30 days

£100 FREE cash if you credit the account with £500+ by 13 December 2024. You’ll also receive a £10 Just Eat voucher every month for 12 months.

Who can apply?

First years 

 

If you’re not in first year, you may qualify but you’ll need to have 2+ years of study remaining

Undergraduate course lasting 2+ years

Full-time PG student

If you’re not in first year, you can switch from another account at any point in your studies

First year undergraduates

First year postgraduates

First years on a full-time course 2+ years in length. You can apply up to 1 year after your course starts.

 

Bank accounts for international students

You may be ineligible for certain bank accounts as an international student, so do double check when you apply, as you may need to have been resident in the UK for a set period of time.

Save the Student   have put together information on bank accounts available to international students. The   University  have also put together a page of information about bank accounts for international and EU students. Please always check eligibility criteria thoroughly. 

Budgeting and managing your money

Budgeting at university is really important – your maintenance loan/grant/other funds will disappear quickly once you’ve accounted for rent, bills, and groceries!  

Here are some resources that may help:

If you are not a student and want to know more about budgeting and money management, here are some other general resources that may help you depending on your circumstances:

Support from your bank

Various banks and building societies have dedicated web content about the cost of living and money worries. You can find these pages from Barclays, TSB, Bank of Scotland, Nationwide, RBS, HSBC, and Halifax. If your bank is not listed here, they may still have content that may support you.

Barclays LifeSkills    include a host of free online resources that can support you from school, right up to University and working life. Anyone can use Barclays LifeSkills, you do not need to be a Barclays Bank user. They have content on getting to grips with money and budgeting, as well as personal and professional development resources. 

Student Discounts 

There are lots of fantastic deals for students out there, and many only need you to show your matric card!

Save the Student have a   weekly newsletter  with the latest deals. 

Get the   UNiDAYS   and   StudentBeans  apps – sometimes discounts are only available if you sign up!