Where to get help and support:
Always tackle money problems straight away, before they become serious.
If You are Running up Debts
If you are facing escalating debts even after making sensible cutbacks, or if you have already missed credit card or loan payments, or have fallen behind with rent or utilities bills, get help ASAP:
- Talk to your bank straight away, then they are more likely to be helpful.
- Check if you are entitled to claim benefits to ease the situation.
- Don’t ignore debt problems – they will only get worse as interest and late payment charges build up; they will also harm your credit rating, making future borrowing more difficult.
- Don’t borrow more to pay off existing debt, because that can lead to money problems spiralling out of control.
Student Loan Repayments
If you are struggling with Student Loan repayments contact the Student Loans Company
Free Help & Advice
Local Debt Advice Services – Money Advice Service
Search by town/post-code – speak to an adviser, book a face-to-face appointment, or contact them online
Money Tips For Graduates – Money Advice Service
Advice for staying on top of your finances, whether you are starting your career, doing postgraduate education or travelling
You might be able to claim benefits (e.g. Jobseekers Allowance) if you are:
- Looking for work
- Doing an unpaid internship
- On a low income
- Staying in education
If you don’t have employment immediately after graduation, it is worth checking your entitlement to benefits and pursuing any claim without delay, because it can take a while to process and it is rare to receive backdated payments.
While You are Looking for Work
You may be entitled to Jobseekers Allowance (JSA)
JSA is currently a minimum of £57.90 per week, although the actual allowance depends on individual circumstances.
Even if you are working (less than 16 hours a week), you can still claim a reduced amount.
Any savings (£6,000 – £16,000) will reduce the amount you can claim.
Contact your local office to get advice or make a claim
New benefit claims
0800 055 66881
Find out more:
Government website with useful advice on eligibility & how to claim
If You are Renting
If your Jobseekers’ Allowance claim is successful, you may also be eligible for benefits to help with rent, council tax and utilities bills etc.
Check if the landlord/letting agent accepts tenants on housing benefit.
During an Unpaid Internship
It used to be the case that you could not claim Jobseekers’ Allowance while you were doing an unpaid internship; however in some councils this has recently changed, so you might be entitled to financial support.
Check with your local Job Centre Plus.
If You are Staying in Education
There are various options to help with funding postgraduate studies including bursaries, scholarships and loans.
Change In Circumstances
If you are claiming benefits, inform Jobcentre Plus immediately of any change to your situation, because it will affect how much benefit you receive, and failure to do so could be considered as benefit fraud.
(Voluntary work should not affect the amount you receive, but do inform the Job Centre just in case).
Find out more on benefits & eligibility:
Consumer Rights – Resolving Problems with Financial Services
If you are unhappy with the service you have received from your bank or another financial institution, there are procedures to follow and independent organisations to help resolve problems:
Sort out a Money Problem or Make a Complaint – Money Advice Service
Things you should know before you complain & what steps to take
Helps to settle disputes between consumers & UK-based providers of financial services – including banks & building societies, insurance, credit cards, financial advisers etc.
Enquiries & consumer helpline:
0800 023 4567
Consumers can find out about their rights with banking & other financial services
How to complain, & how to avoid or report scams