Available funding & budgeting tools
Funding available to you
Money to support you while you learn
16-19 Bursary Fund
For you if you:
- are 16-19 years old on 31 August 2024
- study at a school or college or are on an unpaid training course
- have the necessary residency requirements
(your school or college can check this for you) - are in care or a care leaver
- get Income Support, Universal Credit, Employment Support Allowance, Disability Living Allowance or Personal Independent Payments.
You can:
Apply to your school, college or training provider.
(The amount of bursary you are allocated depends on your personal circumstances)
Day-to-day living costs
Need help with transport, food, books, childcare costs etc.
Apply directly to your school, college or training provider. Each organisation decides how much money they may give you and when you will receive it.
Budget planner
If you have recently started, or you are about to start university, it may be the first time you’ve lived away from your parents and have had to fend for yourself. It can be a little daunting moving to somewhere new, therefore it is important that you fully prepare yourself for this big change before starting your first semester. A good start is creating a student budget. For useful tips visit the Barclays Lifeskills website.
Step 1
Start by working out your monthly income. Add each of your incomes together to make a total income amount and then add it in the total income box in the ‘do the maths’ section.
Tip: With regards to your student maintenance loan divide the amount you receive in instalment 1 by how many weeks are in the term and then check how many weeks are in that month to spread it out fairly.
Step 2
Calculate the cost of your bills that are necessities. These may include rent, your phone bill, food shopping etc. Add them together to make a total.
Step 3
Work out things you would like to do this month but you could do without (having this as a separate section will help you cut down on outgoings if you notice you’ve gone over this month). Calculate the total.
Step 4
Is there someone’s birthday this month? Do you want to go on holiday, or is there a particular event that you really want to go to? Add it here in the additional outgoings section and see if it’s affordable this month.
Step 5
Add step 2, 3, and 4 together to calculate your total outgoings and add it to the appropriate box in the ‘do the maths’ section.
Step 6
Subtract your total outgoings from your total income to calculate your total remaining amount.