Advice for living in Cardiff and the UK, Health and Wellbeing, Managing your money, Preparing for your future, Student housing advice

Is your January rent sorted?

If you are funded through Student Finance Wales or Student Finance England, you will not receive your second student loan payment until Monday 8 January. Rachel, our student intern, talks about what to do if you’re not already prepared…

With Christmas around the corner and New Year’s celebrations just after, we know that this might be a time when your budget may be particularly strained. However, a late rent payment could have a negative impact on your credit rating and affect your ability to get a credit card or mortgage in the future.

 If you have not thought about this, here are some tips for you:

1. Check your finances

The first thing is to check your finances and see whether you alone are able to pay your January rent. If you are all sorted, then brilliant, go you!

If not, please don’t panic as there are a number of ways you can ensure you can pay your January rent on time. The first and foremost thing to do is not worry. I know that this is easier said than done, but overly stressing about paying your rent won’t help your health and wellbeing. Remaining calm and thinking ahead is the best way to deal with the situation.


2. Speak to your landlord or letting agent

If you have a good relationship with your landlord, have been a good tenant and have respected the house you live in, your landlord may (hopefully) be understanding and let you pay your rent on 8 January when your student loan comes in. Get in contact with your landlord or letting agent as soon as possible and explain the situation.

If your landlord or letting agency refuse to allow you a later payment, consider our other tips or get in contact with the Advice and Money team.


3. Work over the Christmas period

Getting a temporary job over the winter break or working a few extra shifts in your current job  can help ease the stress of paying your rent in January. As long as you’re not working too many hours and you’re still able to fit in enough study, working over the holidays is a brilliant way of getting valuable experience and income.


4. Ask your parents/family if they can help

This isn’t ideal, but your parents and families may understand why you are struggling for money around this time of year and be able to assist you. However, they might not be able to finance you or give you much money as their own budgets may be just as strained over Christmas. Yet, it is good to let them know your situation as they may be able to give you advice or support.


5. Consider opening a student bank account

If you don’t already have one, it might be worth considering a student overdraft. Many banks offer student accounts with interest-free overdrafts, which remain interest-free up to a year after graduating.

You should view the overdraft as an emergency provision for your January rent, and the allowed amount as a limit, not a target.

If you are already near the maximum limit of your student overdraft, you could discuss a temporary extension with your bank to cover your rent before your loan installment arrives.

Read more about student bank accounts here


6. Speak to the Advice and Money team

The Advice and Money team can discuss your situation with you and advise you on the best way to ensure you are able to pay your January rent.

Find out more here

Telephone: 029 2087 4844


However, please note that the team may not be available over the winter recess (see below).


Student Support Centres’ Opening Times

The Student Support Centre on 50 Park Place and Student Support at the Students’ Union will close for the afternoon from 12:00 on Thursday 21 December, and re-open on Friday 22 December, 09:00-16:00. Both services will be closed from Monday 25 December – Monday 1 January, and will re-open on Tuesday 2 January at 09:00.

The Student Support Centre at Heath campus will close at 11:30 on Thursday 21 December and re-open on Tuesday 2 January at 09:00.


See how the Advice and Money team can help you

Your feedback and help please

Have you found this blog post useful? Please help us by commenting in the bar below, and note any questions there too.

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Best wishes,
Rachel, Student Intern.

Your Student Life, Supported.

The Student Support Centre has a range of services dedicated to helping students make the most of their time at University, including: Advice & Money, Careers & Employability, Counselling, Health & Wellbeing, Disability & Dyslexia and International Student Support.

The Student Support Centres are located at 50 Park Place, Cathays Campus and Cardigan House, Heath Park Campus.

For further details of services, events, opening times and more find us on the University Intranet.


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