Advice

If you have any News which you think students should know about why don’t you let us know at moneydoctors@shu.ac.uk 

Alternatively if you want to discuss any of the issues here with your fellow students why don’t you access the Money Doctors forum on Shuspace.

Event: Monday is Moneyday

Most Mondays on the fourth floor of the Owen Building, just below the Cutting Edge Cafe, a Monday  Moneyday information stall is available for students to access information (and be referred to expert advisers) on a range of student money issues.

If you have problems or questions about student loans, debt, accommodation, budgeting, banking, borrowing or any other student money concern, the ‘Money Doctor’ on the Monday Moneyday stall will be able to provide you with information (or direct you to an adviser who can offer further advice and help).

News: Free Prescriptions

Did you know that students can get help with health costs? Check out this useful leaflet for further details.HC1 Form

News: Final Year Students – Looking Ahead

Final year students should start looking ahead to what happens after graduation. In May or June 2012, there will be a What Next workshop focusing on this.

This workshop for final year students, provides information on a wide variety of money-related issues that you will need to know about after graduation. Watch out for the details, here and on Twitter and Facebook.

NEWS: Re-claim your tenancy deposit

The Deposit Protection Service has found that nearly £2million worth of tenant deposits go unclaimed each year. Make sure that you re-claim your deposit when your tenancy ends.

Your landlord can use your deposit to pay for any losses or damage while you’ve been living in the property, but not for fair wear and tear.

If you feel your landlord is unfairly witholding your deposit at the end of your tenancy, contact them by letter and request the deposit back. In your letter, say that you require written reasons for the full deposit not being returned. Keep all copies of correspondence. You will need them if you have to go to court to get your money back. You can take action through the small claims court.

These deposit protection schemes schemes are designed to help stop landlords from wrongly witholding part or all of your deposit.

If you encounter a problem concerning your tenancy deposit and you feel that you can’t resolve it yourself, contact the Advice Centre here at Sheffield Hallam’s Student Union on 0114 225 4148 to obtain advice about how to address the problem. In addition, you can get information about typical household costs and what you should budget for. Check out these links for further information:

www.direct.gov.uk/en/…StudentHousing/DG_064417

http://hallamunion.org/advice/files/2009/04/6-Depositsandbonds11-12.pdf

EVENT: The Union at Collegiate Campus

Hallam Union is coming to Collegiate. Every week-day the Union will be present at the Collegiate campus to showcase the activities and support available to students.

The Advice Centre will be at the Heart of the Campus providing information on the Advice Centre service and more specifically, its Money Doctors’ Project on Wednesdays from 11am till 1pm in the Union Office.

Also, At Sheffield Hallam, students can access the following:

a. A Monday Moneyday information stall – every Monday in the Owen building at location 4C (on the way to the Adsetts building);

b. A Monday Doctors’ website page;

c. Facebook and Twitter messages;

d. Materials to collect from the Advice Centre, including wallcharts and budgeting tools to help keep money records and see your money situation in one easy snapshot form (e.g. wallplanner ).

e. A new one-to-one budgeting (Money Make Over) scheme helping students to become aware of budgeting techniques and money management.

News: Money Make Over at the Advice Centre

Need help with managing your money? Is the money slipping through your fingers at such a rate that you are left struggling to cope? If so, the new Money Make Over, one-to-one budgeting service at the Advice Centre in the HUBS could help you. Call in at the Advice Centre for further details or call us on 0114 225 4148 / 0800 073 2002.

Check this link out for further details: http://hallamunion.org/advice/files/2012/02/moneymakeover2.png

The service will help you to budget, save money and plan ahead in order to avoid the worst excesses of bad debt. 

NEWS: Beware of pay-day loan companies

Students should beware of pay-day loan companies, some of which are targeting students in their advertising campaigns. Such quick fix solutions to debt may seem on the surface, attractive. However, beware of the very high rates of interest that are being charged (e.g. maybe as much as 900%!!).

Students with debt problems should consult the Advice Centre in the HUBS where they will obtain first class advice and information on how to deal with their debt situation.

News: Returning Students: Re-applying for funding: May 2012

Returning students have to contact Student Finance England (SFE) if the funding they are applying for is different from what they applied for previously.  If there is no change, they should apply for funding by logging into their student finance account, update the details, check that the details are correct and then sign and return the loan declaration letter that SFE send by post to students.

The deadline to complete the forms is 29th June to ensure that the money is in the student’s account for the start of term in September 2012.

Further details are available at these links:

 http://hallamunion.org/advice/student-funding-201213-continuing-students/

www.direct.gov.uk/en/…/StudentFinance/Gettingstarted/DG_171577

News: How higher education study affects welfare benefits

Most full time students can’t claim benefits. Some exceptions include single parents, students whose partner is a student and one or both of them are responsible for a child, disabled students and students whose partner is not a student and who is eligible for benefits. Some full time students can claim JSA during the summer holidays if they are a single parent responsible for a child/young person or if they have a partner who is also a full-time student and one or both is responsible for a child/young person. Students who are working while studying may be eligible for Working Tax Credit. Full-time students in the main are exempt from paying Council Tax. Further details are available at this link below:

http://hallamunion.org/advice/files/2009/04/9-Benefits-11-121.pdf

News: Non-essential Spending: Amazing Savings to be made

Many students are feeling the pinch in terms of student debt. Control over spending and attempts to cut out waste or cut back a bit are becoming increasingly essential. The area of non-essential spending (i.e. spending in which you make a choice and can change and have some control over) is what students need to give some attention to. Students can use this useful student calculator to help them gain control over their finances:

http://www.studentcalculator.org.uk/

Also, check these links out for financial capability skills tips and what non-essential items cost over a year:

Money Make Over.docxHTB

Amazing Savings for Students

Private Accommodation: the costs to take into account

Students thinking of moving into private accommodation in September 2012 should think ahead and be fully aware of all the potential costs they will have to meet, such as the following:

1. Tenancy Deposit: usually a month’s rent to cover any damage or unpaid rent when the tenant leaves. Landlords in most cases will expect students to pay a deposit when they sign the housing contract.

2. Rent: usually paid a month in advance. Properties/accommodation will vary in price from say £60 to £100 a week

 3. Utility bills: gas, electric, water

Gas central heating with instant hot water is the cheapest form of heating, costing on average about £5 per week per person. If the property is heated by electric fires, it will probably be an extra £8.00 per person (although this could vary according to usage).

Some owners include water charges within the rent; others exclude them. These then become the responsibility of the tenants. If it’s not clear from the rental contract agreement you sign, ask the landlord for clarification. The telephone number for Yorkshire Water is 0845 124 2424.

4. Council tax: Most students shouldn’t have to pay council tax.

If you are living in a property occupied only by full time students, you can gain exemption from the tax in most cases. However, if you are going to live with anyone who is not a full time student you may have to pay some council tax.

5. Telephone, internet, TV licenses: Don’t forget these bills if you have a landline, internet access and a television in the property. If you live in a communal property with a shared lounge one TV license should cover the whole house and include televisions in tenants bedroms (Telephone 0844 800 5870 for further details about television licenses).

As always, if you need information and/or advice on any matter relating to your accommodation, contact the Advice Centre on

 0114 225 4148 or 0800 073 2002 (Freephone).

News: The key is budgeting

Budgeting is one of the key financial capability skills that students need to acquire in order to keep their finances in good shape and to avoid the worst excesses of bad debt. Budgeting involves knowing what income and expenditure are and the difference between the two figures, ensuring that there is enough income to cover expenditure (especially essential spending such as rent, bills, food etc).

Budgeting is important for all students. However, final year students thinking about what’s next, may wish to focus on it more to ensure that they leave university with a s little debt as possible.

Further details and a budgeting calculator tool are available at this useful link:

http://www.studentcalculator.org.uk/

News: New, Prospective Students – How to apply for funding -May 2012

New students joining the University in September can obtain information about how to apply for funding (such as Tuition Fee Loans, Maintenance Loans, Maintenance Grants and other financial assistance if they are disabled or have child or adult dependants), from the following links:

http://hallamunion.org/advice/funding-and-money/

http://www.studentfinance.direct.gov.uk/portal/page?_pageid=153,4680119&_dad=portal&_schema=PORTAL

News: Returning Students: Re-claim your tenancy desposit

Check out these links for further information:

Deposit Protection Scheme2

http://hallamunion.org/advice/files/2009/04/Deposits-and-Bonds-10-11.pdf

News: Money Doctors’ Animation Film

A short animation film, commisioned by Money Doctors Volunteer Project students and completed by animation students at Sheffield Hallam University (as part of their involvement in the Venture Matrix initiative in the University) is now available for students to view at Sheffield Hallam. The film conveys a simple but direct and effective message about how students need to be proactive in terms of taking positive action to avoid the worst excesses of student debt so that when they leave Uni, the debt is as small as it can possibly be.

Check the film out at the link below:

 https://www.dropbox.com/s/91z7l82l7cil6ef/Final_Movie_Compressed.mp4

News: Useful advice on dealing with student debt

The Prospects website contains lots of useful information on graduate employment, postgraduate study and how to deal with student debt. Check out this link out for sound advice on some of the best ways to address debt problems:

http://www.prospects.ac.uk/money_debt.htm

Also, before you leave University, remember that first class help about debt and many other problems is available from the Union Advice Centre located in the HUBS (tel. 0114 225 4148).

News: Final Year Students: Checklist of Money Issues: May 2012

Final year students who may be coming to the end of their Uni experience at Sheffield Hallam need to focus on a number of money issues such as repaying loans, leaving Sheffield (perhaps) and getting their tenancy deposit back, mortgages, salaries, debt and so on.

This powepoint presentation (with useful links) provides a checklist of money matters that will require some thought after those final exams:

What’s Next Checklist for final year students