OTHER SOURCES OF INCOME

EMPLOYMENT

This is the main source of student funding after Student Support.

If you are in the first or second year of your course you are advised to seek part time employment, particularly if you are in your first year and classed as a single student in order to finance yourself through the year.

This will be especially important if you subsequently apply to the ALF for financial assistance, as there will be an implied minimum 'assumed income' threshold of £1,500 per academic year. This equates to 1 full working day a week at minimum wage (e.g. a Saturday job).

As well as National Insurance the law requires everyone who works to pay Income Tax to the Inland Revenue. The first £4,855 (2005/2006) of annual income is tax free. If you do not earn this amount during the current financial year, which runs from 6 April 2004 until 5 April 2005, it may be possible for your employer not to deduct income tax in the first place by completing a P46 or P38(S). If you have to pay then you will be entitled to a tax rebate at the end of the tax year. The Inland Revenue will process this automatically or you have to submit your P60.

The Advice Unit can advise you on any issue relating to working conditions, holiday pay, income tax and national insurance, minimum wage and employment agencies.

International students should refer to the Advice Unit guide entitled 'International Student Handbook 2007/2008'.

Student Centre 'Job Shop' and Careers Service

Both are free and confidential. All students are advised to register with the Job Shop, which can make it easier for you to obtain and/or contact student employers during your studies. The Job Shop advisor is qualified and experienced in dealing with issues such as employment agencies, minimum wage and working conditions as well as practical help in obtaining part-time, temporary employment.

Professional careers advice is also available all year round.

Bank Overdraft

Banks are highly competitive offering generous facilities to students especially interest free overdrafts and credit cards. However, beware of pitfalls (see above). You should only open one student account and keep in regular contact with the bank's Student Advisor.

Parents, Family and/or Friends

If you are assessed to pay your own tuition fees based on your parent's or partner's income then they will be expected to meet this cost.

The University cannot provide any assistance towards tuition fees from the Access to Learning Fund.

Welfare Benefits

In some cases you maybe entitled to benefit especially if you are a single parent student. You should contact the Advice Unit who will do a calculation assessment to assess if you are eligible for Income Support, Housing Benefit or Job Seekers Allowance.

HC1 Certificate (help with health costs)

All students should apply to the Health Authority, and applications are available from the Students' Union Reception Desk. You will need to submit a copy of your financial assessment. Limited or full exemption certificates are awarded for prescriptions, eye and dental costs.

NUS Extra/ISIC Card

The University of Bolton Students' Union is a member of the National Union of Students (NUS). The NUS and ISIC card is now a combined card which is both an identity and discount card. It has all the benefits of the old ISIC card plus new and exciting discounts. To get more information look on our website or call into the Students' Union Reception. Students studying at the University on or off campus or on a work placement are eligible for the new NUS Extra card. To obtain your NUS Extra card you will need your University identity card and £10.00.  Log on to www.nusextra.co.uk for full details.

Young Person's Railcard and Coach Card

This allows for one-third discount on travel in the UK and costs £18 and £9 respectively. You can apply for the card at Bolton train station.

Credit Cards

This is not actual income! It is the easiest way to get into debt and the most difficult to pay off due to high interest rates and charges. Try to keep this type of spending to a minimum and have one card only as credit cards are regarded as 'secondary' debts. The Advice Unit sees many students who use credit cards as a means to pay for essential items such as food and bills who subsequently run into significant debt. Seek assistance from the Advice Unit first if you are unable to pay your bill or are thinking about paying your bill ahead of priority payments such as rent, utility bills, and food.

Store Cards and Catalogue

These are commonly used by students especially single parent students and students between 18-24. They are readily available through shops and post. But use these in conjunction with credit cards and you could find you're seriously in debt with little prospect of paying them off quickly due to extremely high interest rates. Most students who use both credit and store cards in their first year at the University find they are unable to clear their debt throughout the remainder of their course.

If you do opt for a store or catalogue account, try to keep your spending to an absolute minimum so you can clear the balance upon the arrival of your bill and use it to pay for essential items only such as school uniforms.

If a creditor due to unpaid bills is pursuing you, then you should seek help immediately from the Advice Unit on 01204 900850 or email the AU Advisor

Credit to Avoid

A guaranteed way to improve your budget position is to avoid impulsive spending which creates a 'false economy'. Students often go on spending sprees particularly in their first year during seasonal sales and buy 'must have' items which they consider to be bargains but never or rarely use.

These items are commonly bought on revolving credit such as credit and store cards and mail order. All attract unaffordable rates of interest and will quickly drain your resources.

Remember, the ALF will be unable to help students who simply spend themselves into difficulty due to high expenditure or persistently spending beyond their means.

If you are in debt with creditors you should contact the Advice Unit who will represent you and negotiate on your behalf.