It’s time for a reality check — student loans tend to disappear faster than a bag of Doritos at 2am after a night out. And let’s be honest — for a lot of us, the tri-annual student loan drop simply doesn’t cover everything it needs to.
In fact, according to Save the Student, the average UK student receives just £600 a month in loan support, but expects to spend around £1,100 on essentials like rent, bills and groceries. You don’t need a maths degree to realise that doesn’t add up.
By those figures, our in-house mathematicians have calculated that during the summer term, the average student will be out of funds by the 9th July, leaving a whopping 84 days left until the next round of income drops.
So, whether you're figuring out how to survive the summer holidays with zero budget, or simply trying to stretch your loan to the end of each term, here are our easy (and actually useful!) student money saving tips to help keep your account in the green all year long.
If you’ve ever had to turn down plans because your student loan ran dry halfway through term – you're not alone. To avoid the cash crunch this term, it’s time to flip how you think about money.
When that final payment drops in April, it needs to last until October (ouch). So, instead of blowing it on iced lattes and last-minute trips, try back-saving. Stash away £20 to £30 a week for the boring (but important) stuff like rent and groceries. It might feel like a buzzkill now, but your summer self will be buzzing you did it.
Want help building a budget that’s actually realistic? Check out our ultimate guide to student budgeting (thank us later).
There are student discounts – and then there are actually useful student discounts. It’s easy to forget just how many essentials come with money off when you’re in full-time education.
Railcards knock a third off train travel
Chains like Co-op and ASDA offer 10% discounts with a student card
Flights with airlines like Ryanair and EasyJet often include reduced fares during off-peak periods for student travellers.
The trick is knowing where to look. Platforms like UNiDAYS, Student Beans, TOTUM, and VoucherCodes do the legwork for you, and are updated constantly with new offers across food, fashion, tech, and travel. A quick browse before you buy could shave £50–£100 off your monthly outgoings, so it’s well worth a regular browse!
A part-time job doesn’t have to mean stacking shelves or losing entire weekends to sticky bar shifts — there are a growing number of flexible, low-effort side hustles that slot around any plans.
This summer, find an income stream that works around your lifestyle. Think tutoring, dog sitting, or even festival volunteering. Looking for inspiration? We’ve collated an ultimate guide to side hustles you can do without leaving your home this summer – for those who fancy maximum income with minimum effort (who doesn’t?).
Many students aren’t aware that they might be eligible for grants or emergency funds from their university or local council. These aren’t loans – they’re often one-off payments to help cover essential costs during financially difficult periods.
If your bank balance is looking bleak and your budget is already stretched, it’s worth checking what support is available through your university's student services or local authority.
You’d be surprised how much money is sitting in your wardrobe or under your bed. Old course books, last year’s festival outfit, that tablet you never use – all of it can be turned into quick cash. Platforms like Vinted, Depop, Facebook Marketplace, and even eBay are ideal for getting rid of unused stuff, while giving your bank balance a small boost.
Some universities also run regular campus sales for students to get rid of their used course materials. These are a great chance to make some extra moolah from things you no longer need, and pick up next year’s necessities for a discounted price. Not glamorous, but genuinely effective.
A lot of students hit zero before summer even starts. With the cost of living rising, and student loan payments not matching real-life expenses, it’s more common than you think. But, that doesn’t mean you’re doomed to a summer of saying no to everything.
A little planning, a few smart money moves, and some solid side hustles can help you stretch your student loan, and still have a life. After all, summer should feel like a break – not a breakdown.
The TL;DR is:
Back-save early (your future self will thank you)
Use discounts on stuff that actually saves you cash
Find income that fits your lifestyle, not the other way around
Don’t be afraid to ask for help
Sell what you don’t use
Still feeling overwhelmed and need to go back to the basics? Check out our student guide to money management for more tips to help you stay on top of banking, bills, and budgeting – all term long at university.
Moving away from home can be challenging in many ways, but being in charge of your own money can be one of the trickiest ones. In fact, in our recent survey, 37% of UK students found it difficult to manage their finances and budget effectively when living away from home.
Research shows that most students lack basic money management skills when they arrive at uni – here's what you need to know to keep on top of your finances!
Student loan not cutting it? Check out our guide on the best side hustles for university students and unlock that extra little bit of income!
