Finances

Tax guide for students

All the information you need to know about Tax and more

SGUL information

Further finance information from SGUL

Money can be a major cause of concern in students, especially those who have never had to balance their own books before. Hopefully the following information will be of some use in preventing money problems before they get too serious…

Student Loans

Home students can apply for a student loan from the Student Finance England. How much of this loan you qualify for depends on your status, taking into account whether you are an independent student, have dependents, and whether you are eligible for any other awards. The loan is also dependent on the number of weeks you spend at university per year.

You should have already applied for your student loan in advance of arriving here, but if you haven’t, you will need to contact your Local Authority who will send you the appropriate paperwork.

You will not need to start paying it back until you have left university and are earning money. For more specific information please refer to the Repayment section of Student Finance England.

NHS Bursaries

For Home students, all three years of Physiotherapy and Radiography, years 2, 3 and 4 of the 4-year MBBS course and the 5th year of study of the 5-year MBBS course, the fees are paid by the NHS Bursary unit. These students are also eligible for a bursary, but like your student loan, this is affected by your personal financial situation. The NHS bursary must be repplied for on an annual basis.

Fees

For all of those Home students on undergraduate courses who are not eligible for a Bursary, the fees for the academic year are shown here. A complete breakdown of fees including those for international students and postgraduate students is available from the Student Centre.

Student Bank Accounts

It is likely that you will already have a bank account prior to coming to St. George’s, but before you automatically upgrade your account with your current bank, take a look at what others are offering. There are many different things you need to consider, not just the freebies! You need to consider things like overdrafts and the location of the bank.

Banks offering specifically-student banking facilities are:

Overdrafts

Many students rely on overdrafts for an extra source of funding, and they can be especially handy towards the end of term, when the grants and loans are wearing a bit thin on the ground! It is important to remember that they do have to be paid off though, and if you end the year £500 in the red that means that £500 of your next instalment goes straight into paying that off, making it more likely that you’ll end the next year further overdrawn. Many banks increase your overdraft limit as you progress through university, but make sure you know your current approved limit and stick to it... Banks think nothing of charging you every time you go over your approved limit! If you find yourself temporarily short of dosh, then contact your bank and ask for a temporary extension with an approved cut-off date, as this will save you not only the charges and also prevent you getting a bad name with your bank, which will make it more likely for them to increase your overdraft in the future.

If you are experiencing financial difficulty, please contact Jude or Helen in the Student Centre. There are short term loan schemes available for certain circumstances.

Council Tax

As a full time student you do not have to pay council tax. You will need to request a letter from the Registry which will state that you are a registered full-time student, which you will then need to send to the council in order for them to process your case. If you are living in Halls, this is automatically done for you, but it is important to remember for next year when you may look into renting accommodation.

Work

Some students need evening or weekend jobs to support themselves at university. There are some more student-friendly jobs such as working behind the George’s bar or medical secretary work. Many students in the earlier years of study choose to get some employment during their holidays, but remember that most of our terms finish later than other universities, so you will need to apply early to ensure you do not miss the boat.

Income Tax

As a student you do not have to pay tax on your earnings, up to a certain ceiling amount. Ask your employer for the appropriate forms. For the guidelines to Tax please click
here.

Access To Learning Fund

If all attempts at budgeting fail, you may need to apply for Access to Learning Funds (ALF). ALF is allocated to the medical school by the Government to assist Home students in severe and genuine financial difficulty. Only certain students are eligible. ALF is not to be used for the payment of tuition fees, or to make up for a shortfall in assessed parental contribution.

To be eligible, students should have applied for their full entitlement of Student loan. Help will be given in the form of a non-repayable grant from the Medical School. For more information, collect guidance notes and an application form from the registry. 

For more the forms and guidance information please visit the SGUL website.

For more financial help and advice, click on one of the links below:

National Debtline

Hot Courses - Student Money

Citizens advice

Please contact Jude O'Brien, Student Finance and Policy Officer (jobrien@sgul.ac.uk or on 0208 725 0962 or internal number x0962) or Helen Williams, Student Finance Advisor (Hwilliam@sgul.ac.uk or on 0208 266 6303) for further information or if you have any financial difficulties at all during your course.

Postgraduate funding information can also be found at: PostgraduateFunding.com, a comprehensive database of grants available to postgraduate students from all over the world.