Money Timeline: During your final year
Key times to think about your income and outgoing expenses during your final year of study, and how to manage your money.
Overview
There are certain costs that may arise in your final year, and it’s also when you’ll likely start to plan for the future, so it’s a good idea to understand when you might need to pay for things and how much you’ll need.
Our timeline pinpoints key times for you to think about your income and outgoing expenses, and when the deadlines are.
The timeline starts in September, at the beginning of your final year.
September
Housing inventory
Whether you're living in university accommodation or private housing, it's worth taking some time to create an inventory (a list of items and their condition when you moved in) and take pictures of your house/flat. It could save you some money in the long run when it comes to making sure you get your deposit back.
First student loan instalment of final year
If you’ve successfully applied for student finance, the first student loan instalment will be paid 3-5 days after you register.
Reassess your budget
Check your budget to make sure you're all set for your final year by using our Money Planner.
October
Council Tax exemption
If you’re a full-time student, you’re exempt from paying Council Tax. The quickest way to obtain a Council Tax exemption certificate is by using our student document self serve:
Student document self serve: Generate a Council Tax exemption certificate (student login required)
You can also go in person to the Student Services Information Desk (student login required) to request a signed and stamped version of the letter.
Book travel in advance
Cheap train tickets are usually released 12 weeks in advance.
If you're travelling home at Christmas via train, book your travel now to save on the cost. You may also want to check whether it’s possible to travel via coach, as there are often great deals on these journeys.
November
Considering postgraduate study?
Lots of postgraduate open days and information fairs take place during November. Make a note of any application and scholarship deadlines that you don't want to miss.
December
Confirm childcare costs
If you’re receiving a Childcare Grant this year, make sure you’ve approved any requests for payment for this term. See the government web pages for more information.
Christmas ideas
Check out Money Saving Expert’s tips on saving money at Christmas. In particular, make sure you’ve worked out your budget carefully before you start buying presents: consider making a pre-Christmas no-unnecessary-present pact with friends or organise a Secret Santa with a capped amount.
January
Second student loan instalment
If you’ve successfully applied for student finance, the second student loan instalment will be paid after the Christmas vacation.
Check postgraduate funding
If you're considering studying a postgraduate course, it's a good idea to look into the funding as early as possible.
Much like undergraduate awards, postgraduate awards usually have deadlines so it's a good idea to make a note of any you want to apply for and when their deadlines are.
If you’re staying with us in Sheffield, you can find out more about the awards available on our web pages.
February
Book Easter travel early
Cheap train tickets are usually released 12 weeks in advance. If you're travelling home at Easter via train, book your travel now to save on the cost. You may also want to check whether it’s possible to travel via coach, as there are often great deals on these journeys.
March
Apply for jobs
The end of uni is quickly approaching. Whether you’re considering further study or applying for graduate jobs, make the most of our Careers and Employability Hub (student login required).
Get support with your final year finances
If you receive student finance, you'll get slightly less maintenance loan this year (because student stops paying you after the last day of term, as outlined on their web pages) so you may start to run out of money. If your funds are running low, don't panic - get in touch with the Student Advice Centre (student login required) in the Students' Union, who can help you look at your budget and make sure you're accessing all of the funds you're eligible for (student login required).
Confirm childcare costs
If you’re receiving a Childcare Grant this year, make sure you’ve approved any requests for payment for this term. See the government web pages for more information.
April
Plan for graduation
If you’re graduating this summer, remember there are things you'll need to pay for to attend, including tickets, robes, and pictures. Work the costs into your budget so it's not a shock when summer arrives.
Final student loan instalment
If you’ve successfully applied for student finance, the final student loan instalment will be paid shortly after Easter.
Remember, you'll get slightly less maintenance loan than in previous years. If you're facing hardship, you may want to seek financial support (student login required) from the University.
May
Apply for funding (postgraduate)
If you’re an undergraduate student and want to continue on to postgraduate study, applications for student finance for full-time postgraduate students usually open around May, if you’re eligible.
If you have a disability or specific learning difficulty, you can apply for Disabled Students' Allowance as part of your application.
June
Confirm childcare costs
If you’re receiving a Childcare Grant this year, make sure you’ve approved any requests for payment for this term. See the government web pages for more information.
TV Licence refund
If you’ve paid for your TV Licence for a full year but move out during the summer, you can apply for a refund for the months your accommodation will be empty. For more information, see the TV Licence web pages.
Sell things you no longer need
Now it's nearly time for your student days to come to an end, make some money by selling things you won't need any more, such as used text books. Money Saving Expert provide some tips on second-hand selling.
Claim benefits you're entitled to
Once you've finished your course, you may be able to claim some benefits. The government signposts to some benefits calculators that will give you a good idea what you might be eligible for.
July
Understand your loan
Make sure you understand how your student loan works and when you're going to start repaying it. The Student Loan Repayment website will help you get your head around it, if you haven't already.
August
Reclaim your money
When your accommodation contract has officially come to an end, check that you haven't overpaid for utilities and that you've got your house deposit back.