When you are a student you have to pay to go to university but you don’t need to worry. You don’t need to have money saved, and your parents don’t need to help you. This is because when you are a student you borrow money from the government. The government will pay the university for your tuition fees. This money covers your lectures, lecturers and all the building that are on the campus, so you do not have to pay any lump sums of money.

When you are at university, you will also need money to cover your living costs, books, clothes, a gym membership, your university halls of residence, and maybe even a laptop. This money is also borrowed from the government and is given to you at the start of each term, for all the things you need when you are a student.

Like with anything you borrow, when you have finished university and have a good job which earns you a lot of money, you start paying back what you have borrowed, a little bit at a time. The money comes out of what you earn at your job, and it happens out automatically so you don’t have to do anything.

Lot of students get money off university by being awarded a scholarship or a bursary. These are for students who get very good exam results or who are very good at sport. This means everyone can afford to go to university, because you will borrow the money you need for university, and only pay it back when you are earning a lot of money.

Listen to our student Princess below to find out more about student finance: