Becoming a student

Introducing you to life at university

Going to University?

Heading off to university can be a daunting experience.  We've put together a simple 6 step checklist below to help you manage your money effectively before you start life at university. 

1. Location, location, location

Are you moving to completely new location? If so, try and visit the area before your move in day. Attend the university's open day and visit all the facilities. This will be your new home for the next 3-4 years. you'll want to make sure you're happy and familiar with your surroundings beforehand. You'll feel more at ease. 

Find out which UK city is most affordable for students

2. Accommodation

Finding the right student accommodation to suit you is important. But don't worry, your university digs will soon feel like home. 

Some accommodations types you could consider are, halls of residence, private halls or shared houses and private accommodation.

3. Consider insurance

Most students own smartphones and laptops so it's worth taking the time to look into insurance.

You might be able to extend your parents' home contents policy or it could be included in your student halls but it's always worth checking if you're covered. 

4. Student finance and loans

If you're taking out a student loan to cover tuition fees or maintenance loan, you will need to make sure you fill out an application form as soon as possible.  Those from low income backgrounds could get extra help, so check all the options out.

Not sure where to start? 

Our guide introduces the different student finance bodies, the application process, and a selection of tools and resources to help you manage your student finances.

5. Open a student bank account

The Royal Bank of Scotland student account is designed to make your life in higher education a little bit easier. Apply today and get a £500 interest free student overdraft for term one, with the option to increase up to £2,000 from term two year one.  You can apply for up to £3,250 interest free from year three onwards*. You'll also get your hands on a contactless Mastercard.

* Eligible students in third year onwards can apply for up to £3,250 from 2nd October 2023. 

6. Start budgeting and saving

Student loan has to last you a good few years. Don't get carried away with the large amount in your account. 

You can manage your money by creating a budget and maybe even setting a savings goal. If you want a bit of extra cash, you could think about getting a part-time job. Available to existing customers with an instant access savings account. App criteria applies.

Ever wonder how much it will cost? Wonder no more.

For nine years now, our in-depth survey and data have shed light on what it’s really like to be a university student.

 This year, we asked 2,964 students across 21 university cities to share how much they spend on essentials, their budgeting methods and how they manage their time between socialising and studying. We also asked them about the impact of the UK’s cost of living crisis.

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