What Funding Options Are Available to Students During Term Time?

Most students and graduates across the world will be well accustomed with having to manage money for the first time whilst at university, with many relying on the money from a student loan. Whilst this is usually enough to cover life’s basic necessities, it is all too easy for the money to deplete during term time, leaving the student in a difficult situation financially. Here are some of the funding options available to those students who need some extra cash in term time.

Part Time Work

One of the most effective ways for students to boost bank balance is to find part time work. This could be anything, ranging from being a university ambassador (there are often many jobs in the students’ union) to doing an internship. It is important that the job has flexible working hours, and can fit around the student’s individual course.

It is also important that the job does not eat into study time, given that the course being studies is far more important than earning a little extra cash. Having a part time job should provide a steady income, and act as a buffer for the student’s finances.

Short Term Loan

For those who need a more substantial amount of money fast, a short term loan may be the best solution. There are now a number ofspecialist loan providers for students, who offer better/more generous repayment terms and interest rates compared to traditional lenders.

That being said, loans should still only ever be a last resort, as they will need to be repaid (with interest) eventually. They are best for short term emergencies, such as having to pay rent, and it is always worth shopping around to find the best value for money.


At this point it is well worth pointing out that one of the best ways to boost income requires virtually no effort. Creating a budget, and then cutting down on any unnecessary expenditure, is likely to save any student a significant amount of money in the long run.

To create a budget, the student simply needs to set a weekly/monthly limit for expenditure (against their income) and ensure they stick to it, and the results will undoubtedly speak for themselves over time.

So, a student loan is not the be all and end all when it comes to finances as a student. There are plenty more ways to boost income and avoid financial hardship, so it is worth looking at what is available/workable based on the individual’s circumstances.