Money and education
lli
Financing yotl r str"ldies
illr
Read the texts and note in particular the collocations (word combinations)
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Tuition feesl
lt is impońant to know in advance what
the fees will be, when they are payable
and whether you will need to provide any
financial guarantees, There are different
ways in which you can seek fundingz to
finance your studies. ln many countries,
students can apply to take out a student
loan to help cover their living costs3
while studying. Student loans are
often fixed at a low interest rate. your
student bank accounts are
similar to normal current
'liili
!i!h
accounts but they often have
stlr_
additional benefits such as
interest-free overdraftsg and the
banks may offer inducements10 to
open an account. Students often find
it cjifficult to make ends meet11.
|n the UK, for example, student
debt has soared12 and many
UK students can now expect to
accumulate considerable debts13
which they will have to pay back over
many years. lt is a good idea to budget
carefulIy and calculate your monthly or
annual expenditurela and the total cost
of your course. The cost of living in big
cities is often very high, so plan carefully"
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:
,ffit,
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i,
entitlement toa a loan may have to
be assessed. You may be eligible for a
government grant or a scholarship or
other awards.
ln many countries, full-time
students from lower income
households can apply for a non-
I
l]
I
Your personql finonces
.*§
1,3'
repalrable maintenance grant6.
Grants may be payable as a lump
sum7 or in instalments8.
_
3
2
what students pay for being taught try to get money to pay for your studies PaY for their
5 moneyoraprizegivenfollowinganofficialdecision
a
dailyexpenses righttoreceive
1
6 money avaitab[e for students to get (e.g. by doing welI in an exam or by futfilting certain
8 partsof themoneypaidatdifferenttimes
requirements) 7 onelargeamountononeoccasion
9
that can be borrowed from a bank without paying any interest
ffi8
I
titt the total is reached money
ir
charges 10 give things that are intended to persuade people havejust enough money to PaY
t3
12
owe more and more money to someone
gone up very quickty
for the things you need
1a
year
month
or
each
you
each
spend
how much
Spendiłrg !,nołn€y
We asked some students about their day-to-day expenditure. Here are some of the responses"
til
Books can be expensive, especia[[y hardbacksl,
but you can get more and more stuff on[ine
now and you can get second-handz books from
people who've finished with them.
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_.aii'Ę{5]lffiiia''ł§]iąij&a§,:}af,
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|'m doing business studies so l've taken
out subscriptions3 to a coup[e of online
business magazines, which was an
expense l didn't anticipatea rea[ly.
aJż;**;&:.:]łe:
students
and we split the rent and energy bitlss
but it's stił[ a drain on my finarrces6"
l share a house with three other
Ili
:
Money was a bit tight7 and l had to get a Parttime job in a restaurant but it's a low-Paid job
and it means working pretty unsocial hours8.
3
Ż
book with a stiff cover not new, used in the past by someone else amounts of moneY Paid
5
a
bilts for gas, heating oil and/or
regu[arly to receive a product or service expect to happen
7
6
elóctricity an expense which causes my finances to reduce there was only just enough of it
8
times when other people are not working
1
5Ą
Acodemic Vocabulory tn Use
Exercises
23.1 Cornp[ete the text using words from the box.
awards seek grants entitlement cover take out
maintenance accumulate tuition meet scholarships
Not oll students get 1
grants
to help them study, so some students
accumulate o lot of debt or else they have to 3 .......,..,.....,,,..,
take out
o student loon to
meet
poy their tuition
fees qnd to help mcke ends
.lt is sometimes
seek . . fundlng from other sources ond some governmenfs ond
possible to Ó__,._.,,,,,....,.
awards
officiol bodies give 7entitlement
ond oiher |ypes oi prizes or
lf you intend to study obrood,
moy hcve to provide finonciol guoro.ntees to prove
9
cover ..,, your living costs. Your U,,,,, scholarship
thot you con poy your fees
to funding moy depend on your or your fomily's current finonciol situotion, ln oddition
maintenance
gront io
to o groni to poy your fees, you moy olso be eligible for o ll,,,,
,,,...
cover your dcyło-doy expenses,
.
23.ż
Rewrite the sentences using the words in brackets" with interest
1 The bank gave me a loan where l don't have to pay anything extra when I pay it back. (lNTEREST)
2 Most peopłe seem to be finding it harder to find enough money for their everyday living costs.
(ENDS)
make ends meet
lncreasing
3
numbers of students leave college owing a lot of money. (ACCUMULATE /
DERABLE)
CONSl
sum of money
4 My grant was paid in one iarge amount on one occasion. (SUM)
5 The campus banks offer various things to persuade students to open a bank account"
(lNDUCEMENT)
6 lfind it difficutt to calculate how much money l spend each year. (ANNUAL)
7 The amount you have to pay to live in big cities can be very high" (COST)
23.3
Correct the two vocabulary mistakes in each sentence.
1 My month's expenditure is rather high, so l had to get a partly-timed job"
2 Why are hardbacked books so expensive? l can only afford second-handed ones.
3 My maintain grant is paid on instalments, so lget money everysemester,
4 Ourbi[[sareveryhighsothey'reabigdroneonourfinancesandlon[yhavealow-earnjob.
5 When you're a student, there are always expenses that you just don't antisimate, like high
energetic bills for instance,
6 Even though money is tough for me, l don't want to get a job and work unsocial times"
Ł5.+
Answer the questions about strłdent finance with your own ideas.
]- What are the pros and cons of students having to pay tuition fees for higher education?
2 Shoutd a[[students get a non-repayable maintenance grantto study? Why (not)?
3 What kinds of scholarships and other awards are avai[able in your country?
4 Why might it be a bad idea to get a part-time job while doing a full-time course of study?
you:see
know or are
M'akea note,
The bank gave me ainerest-free loan, so I don’t have to pay anything extra when I pay it
Acodemic Vocabulory in Use
back.
Most people seem to be finding it harder to make ends meet for their everyday living costs.
Increasing numbers of students leave college having accumulated a considerable amount
of money in debt.
My grant was paid in one lump sum on one occasion.
The campus banks offer various inducements to persuade students to open a bank
account.
I find it difficult to calculate my annual expenditure.
The cost of living in big cities can be very high.
55