STUDENT MONEY ADVICE SERVICE
Student Money Advice Service
Increasing Students’ Financial Capabilities at Anglia Ruskin University
Shannon Lynn Norton
Anglia Ruskin University
Wright State University
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STUDENT MONEY ADVICE SERVICE
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Statement of the Problem
As the tuition model in the United Kingdom (UK) is changing, higher education is
becoming more expensive for the students. While the government provides tuition loans for all
United Kingdom (UK) and European Union (EU) students, the maintenance loans are for UK
students and qualifying EU students only and based on financial need. Student Money Advice
Service aids students with their finances by making sure they apply for all funding they are
eligible to receive, helping with documentation, provides programming, and for extreme cases
provides short term loans and food vouchers. Many students are not able to make the money they
receive last for the entire academic year.
As expenses continue to increase, Student Money Advice Service wants to find ways to
increase students’ financial capabilities so they can find ways to make their funding last. This
would hopefully increase the students coming to the service as a preventative measure rather
than as a last resort when all their funding has been spent.
Research Questions
This study is to determine how aware students are of Student Money Advice Service and
their current funding award and to find ways to increase the students’ financial capabilities. This
study will target UK/EU students that are currently registered at Anglia Ruskin University on the
Cambridge and Chelmsford campuses.
Research Questions
This study will address the following research questions:
 Research Question 1: How aware are students of Student Money Advice Service and their
funding?
 Research Question 2: How do students use their funding?
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 Research Question 3: How can Student Money Advice increase the students’ financial
capabilities?
Information Review
Information was gathered by reviewing the ARU’s website and the Student Money
Advice page under Student Services. Information was also gathered by speaking with Student
Services staff at ARU. Currently, tuition at ARU is 8,300 pounds per year for UK or EU
students; this can be less for some courses of study or part-time students. Universities in the UK
are permitted to charge up to 9,000 pounds. All students that meet the qualifications of British
citizenship or EU status prior to the start of their course are eligible for complete tuition funding.
They receive funding for 3+1 years. This extra year is for students that change their major or do
not successfully complete a year. Some students do qualify for funding for a remedial year prior
to the start of their course. Most programs last three years and run from September to June, but
nursing and business do offer some accelerated year round courses.
Aside from tuition loans, full-time UK students may qualify for maintenance grants and
loans for their living expenses. These are based on student need and evaluated based on their
parents’ annual income unless they are over the age of 25, deemed independent of their parents,
married, or have children. EU students would qualify for these grants and loans only if they have
been living in the UK for three years or are a migrant worker. Part-time students may receive
funding if they make fewer than 16,500 pounds per year. Nursing students receive monthly
funding from the National Health Service. The amount is based on need and evaluated using the
parents’ income, unless the student is over twenty-five and can show proof of living
independently for at least 36 months.
STUDENT MONEY ADVICE SERVICE
Students that receive funding from Student Finance England are paid in three
installments: first in September at the start of the year; second in January after the holiday break,
and the third after Easter. Since this last installment varies it can sometimes cause funding issues
for students. The students receive the funds in one sum and no living expenses are taken out
prior. Even students living in campus accommodations receive all their funds and they make the
monthly payment to ARU. A direct monthly debit from the student’s personal bank account is
often set-up, but if the student has spent all the funds, they are then behind on their rent.
Some additional ways that students can receive funding are through scholarships and
part-time work. Some students qualify for academic success stipends or for book scholarships.
Currently, the scholarship information is not in one place at ARU. Students can seek out
information from their specific Faculties or areas of interest but no central location. There is an
Employment Bureau on campus where students can register for temporary paid work for no
longer than twelve weeks. Students are encouraged to sign up as soon as they start at ARU to
begin building up their CV. They work with Employability Services in Student Services to help
students write and edit their CV’s and prepare for interviews. There are currently no permanent
jobs offered through the Employment Bureau for active students. The service does post jobs for
graduates. Work study is not an option in the UK. Work study, in the U.S., is government
funding given to a student that they earn while working at a university. The departments that
employ the student only pay ¼ of the student’s wages; the additional ¾ comes from the
government funds. If the funds are depleted, departments can opt to pay the full wages of the
students to maintain them as employees.
Student Money Advice does receive grant funding from the government through the
Access to Learning Fund. This is a means tested grant which is non-repayable. Student Money
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Advice review student’s financial situation and determine if they are eligible for this funding and
determine an award amount. They also provide students with short term emergency loans that are
paid back to ARU. These loans help students that have a delay in funding or who have found
themselves in a severe financial situation. Student Money Advice can also offer food vouchers
that will supply students with two to three weeks of food. All of these funds are given out after a
review of the student’s finances and after a true financial need has been determined. There is a
concern of fraud, and the funding is carefully disbursed. If necessary, a repayment plan is
established.
Students can often find themselves in financial situations due to a number of
circumstances in the UK. One is that banks allow students an interest free overdraft. Many
students spend more money than they have and then need to find ways to pay this back. Some
students also have issues with paying their rent. Many students fall behind because they believe
the rent is being taken out of their account when it is not. Also, many students underestimate the
cost of living and class expenses.
The money that students borrow for tuition and maintenance is paid back based on their
individual tax code and their annual income. It begins nine months after graduation (typically
April) and only once a student reaches a salary of 21,000 pounds per year. If the student falls
below this amount, repayment is stopped until the minimum amount is again reached. Students’
repayments are at a rate determined by their income. The interest rate of the loan is based on the
National inflation rate and can be up to an additional 3% based on income. After thirty years, all
loans are forgiven. This is all based solely on the individual student, and if married, the spouse’s
income is not taken into account. Students that are self employed or EU students who return
home and do not report to the UK tax system are often hard to find to enforce repayment.
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While there are many UK and EU students at ARU, there are also a growing number of
International students. These students are important because they build culture diversity and
bring a global perspective to campus while increasing funding for the University. ARU has a cap
on the funding they can receive for UK and EU students. There is no cap on International
students. These students pay a higher tuition rate and receive no funding from the UK. Prior to
their arrival in the UK, they must show proof of funding for tuition and living expenses in their
bank account for one month, around 17,000 pounds. Some students qualify for a 2,000 pound
scholarship. The students are also required to make a 2,000 pounds deposit prior to their arrival.
This amount will be raised to 4,000 pounds in the coming years. The deposit helps to relieve
some of the financial burden which helps retain students. While the students are required to show
proof of funding, some underestimate living expenses and still have trouble paying. Some are
placed on payments plans. If they are unable to pay and must stop their studies, they must return
to their home country. International Student Services provides information to students before
they arrive and during welcome week which includes information on expenses. Many of these
students work with Student Money Advice and Financial Services.
Financial Services is mainly located on the Chelmsford campus which can make it
challenging for students at the Cambridge campus. They handle all money at the University
including student funding and campus accommodations. They also handle sending out credit
control letters which can be upsetting to students. At times, they do supply Student Services with
deferred rent and late fee lists. This information is not always consistent to Student Services.
Financial Services can also make a note on a student’s account that can be viewed by Student
Services. Many students when they receive information are reluctant for personal or cultural
reasons to ask for help. Any information from Financial Services to Student Services is helpful
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and can help Student Services reach students more effectively. Financial Services does refer
students to Student Services such as Student Money Advice, but currently, the two areas are
completely separate.
Student Money Advice Service is under Student Services at ARU, and the staff in this
area work to provide students with financial awareness, information on eligibility and help sort
out financial situations. They provide information on the webpage and through programs like
“Cheap as Chips” and “Money Doctors” to help students with their financial capabilities. They
are currently extremely busy so finding time for such programs can be difficult. They work with
students and Student Finance England to sort out issues with paperwork and help make students
aware of what they are qualified to receive. They also work with students to receive funding
from the Access to Learning Fund. The advisers see a large number of students each week
especially on the Cambridge campus. There is a central email for the advisers which can provide
students with a quicker response, but students tend to prefer face-to-face interactions. Students
often return several times to sort out one issue or to get to the source of the problem. The
advisers work very hard to follow-up with each student and follow each case to the end even if it
requires several months. These advisers are up-to-date on the ever changing rules and
regulations of the government. They would like to find ways to increase students’ financial
capabilities.
Based on information obtained, Anglia Ruskin University is a growing University with
two main campuses in Cambridge and Chelmsford and another in Peterborough. They have a
number of wonderful resources and programs already in place for students and a great
understanding of students’ needs. As student funding continues to change and evolve, Student
Money Advice will continue to be a vital resource for students. This project will serve as ways to
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continue to strengthen the already solid structure that is in place and help to find ways to increase
students’ financial capabilities and interactions across campus.
Methods
The research for this study will be conducted qualitatively with quantitative measures.
Methods
The method or tool for collecting the data for this research will be through an email
questionnaire and one-on-one questionnaire in the students’ natural setting.
Population
This study will focus on currently enrolled UK/EU students at the ARU Cambridge and
Chelmsford campuses. This study will take place during May 2013. The students are a mix of
male and female, traditional and mature students; but no demographic specifics will be collected.
Sampling Procedures
The sampling strategies employed will be convenience so that data can be accessed and
collected easily. This form of sampling is selected due to the time constraints of the study.
Data Collection
Data will be collected through email questionnaires and one-on-one in person
questionnaires. The email questionnaire will be sent to students selected by the supervisor of
Student Money Advice at the Cambridge and Chelmsford campus. The one-on-one questionnaire
will be given in person by a member of Student Money Advice Service. Students will participate
at will, and they can decide to discontinue involvement at any time with no penalties. The
identities of the students will be kept confidential. The email questions will be recorded through
survey monkey. The one-on-one in person questionnaires will be recorded via paper or using an
app for the iPad by a member of Student Money Advice Service.
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This is a list of questions that will be used for the email and one-on-one questionnaire:
1. Do you know where to get help with sorting out your funding or managing your
finances? Yes/No If Yes, is that within our university?
2. Do you know how much your funding is for this year? Yes/No If Yes: Fees?
Maintenance?
3. Are you able to make your money last for the whole year? Yes/No If No, why not?
4. Aside from housing costs, on what do you spend the majority of your money?
5. Would you like to attend a money management workshop to improve your financial
awareness? Yes/No If no, why not?
6. Did you know that the Student Money Advice Service had money management
workshops both in Chelmsford and Cambridge during National Student Money Week
earlier this year? Yes/No If Yes, how? If No, how would you like to be contacted about
similar events in the future?
7. Do you think that money management and financial awareness should be taught as part of
the curriculum at university? Yes/No
8. How can the Student Money Advice Service help you improve your financial
capability/awareness?
Data Analysis
The data will be compiled into an excel document. The yes and no questions will be
tallied. The short answer responses will be broken into themes and tallied. The information will
then be displayed in chart format.
Goodness of Design
The researcher will use a peer review process to make sure the questions are valid. The
findings will be reviewed with the Student Money Advice staff to ensure they are reported
accurately.
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Limitations
The current study had some limitations and areas for improvement if repeated in the
future. A demographics section should be added to the survey to have a better understand of the
types of students that responded. Emails should be sent out to the entire campus population. The
survey could be more effective if conducted during a different time in the academic calendar.
The current study was conducted during thesis turn-in and final exams.
Findings
One hundred responses were received. Forty responses were received through the email
questionnaire and sixty responses were obtained via the one-on-one in person questionnaire.
Table 1
Do you know where to get help with sorting out
your funding or managing your finances?
100
90
80
70
60
Maybe
50
No
40
Yes
30
20
10
0
Maybe
No
Yes
The students were asked if they knew were to go to get help sorting out their funding or
managing their finances. One person responded maybe, twenty-four responded no and seventyfive responded yes. Students did make remarks to specific room locations. Some responded with
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Financial Services and others with Student Money Advice. The majority gave a simple yes or no.
The only measure recorded was maybe, no, and yes.
Table 2
Do you know how much your funding is for the
year?
Yes
No
Yes
No
0
10
20
30
40
50
60
70
80
90
100
Students were asked if they knew how much their funding was for the year including fees
and maintenance. Seventy-three responded yes and twenty-seven answered no. Of these, twelve
responded with the exact amount, seven said roughly but would need to look up the exact
amount, five received no funding, and four were sponsored by their employer.
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Table 3
Are you able to make your money last the entire
year?
100
80
60
Yes w/ other
income
Yes
40
20
No
0
N/A
No
N/A
Yes
Students were asked if they were able to make their money last the entire year. Seven
respondents did not receive maintenance funding, thirty-two said no, and sixty-one said yes. Of
the sixty-one that said yes, twenty-three of those did list that they received other income from a
part-time job, parent, or spouse. Rent, bills, travel, children, and course expenses were listed as
the reason that they could not make it last. Some students expressed that their award was based
on their parent’s income, but their parents did not help them in any way.
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Table 4
Aside from housing costs, on what do you
spending the majority of your money?
Food
Car/Petrol
Travel
Course Materials
Personal Items
Social Activities
Childcare/Family
Bills
Phone/Gadgets
Students were asked aside from housing on what they spent the majority of their money.
The number one answer was food with forty-three responses, followed by car/petrol with twentyfive, and travel with twenty-three. From the in person surveys, the number one answer at
Cambridge was food and number one answer at Chelmsford was car/petrol/travel. Many of the
students expressed a large amount of money was spent traveling to and parking at their
placements. The fourth largest answer was materials needed for courses such as books and
specialty equipment. Other answers included personal items, social activities, childcare/family
responsibilities, bills, and phone/gadgets.
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Table 5a
Would you like to attend a money management
workshop to improve your financial awareness?
100
90
80
70
60
Maybe
50
No
40
Yes
30
20
10
0
Maybe
No
Yes
Table 5b
Why they would not attend a workshop
No Money to Travel
Took Finance Course
Will Not Change Habits
Spouse/Parent Handles
Graduating
No Time
Already Aware/Able to Manage
0
10
20
30
40
50
60
70
80
90
100
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Students were asked if they would attend a money management workshop to improve
their financial awareness. Three said maybe, seventy-four said no, and twenty-three said yes.
Those that responded no were asked why they would not attend. The majority of them responded
they felt they were already aware and confident and in handling their finances. The next greatest
answer was no time due to classes and other responsibilities. Some responded they were
graduating so it was not relevant at this point, but many did follow-up by saying they would have
attended if offered early on in their course. Other responses were that parents/spouse handled the
finances, and they knew what to do but did not want to change their spending habits. Finally,
some were studying finance so had already taken financial courses; or they had no additional
money to travel back to campus for these events.
Table 6a
Did you know about the recent money
management workshops?
100
90
80
70
60
N/A (new)
50
No
40
Yes
30
20
10
0
N/A (new)
No
Yes
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Table 6b
How do you like to be contacted?
Email
Leaflets
Posters
Social Media
Website
Students were asked if they knew about the recent money management workshops
offered at Cambridge and Chelmsford during National Student Money Week. Three students
were new students and were not attending classes at that time, seventy-four said no, and twentythree said yes. The students were asked how they did prefer to be contacted about such events.
The overwhelming majority preferred to be contacted via their university email; however, some
did remark that they received a large number of emails and many things were overlooked. Emails
were expressed to be less invasive and could be viewed at will. Some of the other responses were
leaflets, posters, social media sites and the university website.
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Table 7
Do you think money management and financial
awareness should be taught as part of the university
curriculum?
Yes
No
Yes
No
0
20
40
60
80
100
The next question was if students thought money management and financial awareness
should be taught as part of the university curriculum. Forty-three said no and fifty-seven said
yes. Some students that wavered during the face-to-face surveys said no to a required course, but
they did say that an elective course would be beneficial. Some indicated they already had so
many classes for their course that no more could be added, but they would still see value in short
workshops.
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Table 8
How can the Student Money Advice Service help improve your
Advertise Services
financial capability/awareness?
Course/Workshops
Already Help
Tips to Make Money Last
Make Budgets
Pre Arrival/First Day Info
Info on Exceptions/Additional
Funds
Funding/Payment Options
Publish Average Yearly
Expenses
More Office Hours
Shock Posters
The final question was how Student Money Advice Service could help improve their
financial capability/awareness. The number one response, with twelve replies, was make students
more aware of the services available. This was followed by offering courses or workshops such
as cooking classes, tips for making money stretch, and travel expenses information. The third
largest response was that Student Money Advice was already helpful, and students indicated the
advisers had made a positive difference to them personally. Other responses included helping
students make a budget, pre-arrival and first day information sessions, information on
exceptions, for example local taxes, and additional funding that is available such as the Access to
Learning Fund. Students also listed funding options such as giving funding each month instead
of in three parts or offering payments plans. They also expressed an interest in having
accommodation fees removed from their maintenance funding upfront and would like meal plan
options. Another request was a list of anticipated living expenses for the year which included
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items in addition to general living expenses such as travel to visit family. The students also listed
being open more hours. The last request was shock posters in the common areas listing average
expenses and showing statistics like what a cup of coffee each day costs over a year.
Discussion
This study yielded useful information. It showed that many of the services offered by
Money Advice Services are valued; however, students are not always aware of what is available.
Students did express they know where to go, and they do know what funding they are receiving.
In many cases, there just is not enough funding or it needs to be supplemented with a part-time
job. Food and travel are the number one expenses aside from housing. Student Money Advice
Service could aid students by educating early on the costs of living in Cambridge and
Chelmsford, including food and travel expenses. Students would benefit from more cost saving
tips and workshops. Students prefer this information early on in their education. The biggest
obstacle is making students aware of what is offered and getting them to attend. Students express
that programs and workshops are beneficial, but when asked if they would attend, the majority
responded no. Emails that go out to students need to have a flashy title and look that will make
students want to open them and not just let them get lost in the shuffle. Additional methods of
advertisement may also reach more students such as social medial, posters, and leaflets. Offering
incentives could also increase attendance. This year money was spent on outside speakers with
low attendance. This same money could be put into incentives for students to attend in-house
workshops and classes. Also, more than half the students expressed that money advice should be
taught as part of their curriculum. While surveying the students, it appears that some students do
not distinguish between Financial Services and Student Money Advice Service. These two
departments should make a conscious effort to support one another. Financial Services should
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provide consistent reports to Student Services including Student Money Advice. Publications by
Financial Services should include information on Student Money Advisers.
Conclusions/Recommendations
In conclusion, Student Money Advice Service is providing excellent service. They are
known by the students and many students gave positive feedback about the services. When
reviewing the website and programs offered, there is a great deal of useful information. The
advisers are knowledgeable, see a great number of students, and have a follow-up system in
place. Some of the recommendations I would like to make are short term and should be easily
and quickly achievable. There are also long term recommendations that would require more staff
and a change in the entire university culture. Though some may be in theory only, they are worth
mentioning.
Please note that while assessments are important, using the information to make positive
changes is what holds the real value in the assessment process.
Short Term Recommendations
Before the Fall Term

Make ARU website easier to navigate to Student Money Advice page
o The website for Student Money Advice is engaging
 Excellent videos and information
 But hard to navigate to the page (especially from my.anglia page)
o Make Student Money Advice a quick link on the my.anglia A-Z page
under students

Flashy emails
o Give emails flashy titles so students read
o Email all students not just a selection

Provide incentives
o Provide incentives for attending programs

Advertise the Money Advice Central Mailbox
o List benefits of using this form of contact
STUDENT MONEY ADVICE SERVICE
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Shock Posters
o Give stats on how much a cup of coffee each day is over a year
 Show what else this money could buy
o Show how many groceries one dinner out would equal

Update Facebook/Twitter account more frequently
o Another way to touch students
In the Next Six Months

Continue progress on events calendar on webpage
o Will list information
o Will highlight important deadlines etc.

Hold current programs more often such as Cheap as Chips and Money Doctors
o Both Cambridge and Chelmsford campuses
o May need help running these programs as advisers are very busy

Develop interactive budget worksheet for webpage
In the Next Twelve to Eighteen Months

Update 2014 Undergraduate Prospectus catalog
o Include Student Money Advice Service
o Specifically list under Student Services
o List in index

Update information for new students handout
o List out specific Student Services Areas
 Including Student Money Advice

Send information to parents including:
o Financial Process
o Location of forms
o Yearly expense sheet

Add yearly expense sheet to the student information handouts
o This should include living expenses as well as typical students items like
social, clothes and travel home

Collaboration with Financial Services
o Have information on Student Money Advice added to the handouts
o Create measures for consistent information exchange
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STUDENT MONEY ADVICE SERVICE
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Develop new workshops
o Cooking classes
o Travel savings tips
o Local discount information
o Available funds like Access to Learning Fund
Long Term Recommendations
In the Next Three Years

Compile scholarship information in central location (Student Money Advice)
o Scholarships are part of the U.S. equivalent of Student Money Advice

Create on-line training that must be completed before money is released
o If government will not allow, could do for short term loans
o A quiz must be completed at the end with a 75% pass rate

Create permanent on-campus student jobs
o Through Employment Bureau
o Student positions in campus offices

Create meal plans and extend dining hours

Take accommodation and meal plan fees out of maintenance funds upfront
o Students only receive remaining funds
o No concerns about rent or food

Change disbursement of funding
o Change three installments to be on set dates
 especially last payout which varies with the Easter holiday
o Offer monthly payouts

Have students deposit funds into ARU account before classes begin
o similar to what currently exists for International students
Beyond Three Years

MyAnglia Card
 Student ID can be used to pay for food items on campus and at local stores
 ID can be used to pay for printing and binding
 ID can be used in vending machines
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
Create First Year Experience
o Office specifically for First Year Student
o This includes a first year seminar course (learning community)
 covers important topics for new students including finances
 introduces students to all available services

One Stop Shop for students
o Financial Services and Student Money Advice would be in one location
o Students meet one person for all questions
o Student Services approach to student interactions
o Both areas have separate operations behind the scenes

Create “work study” program
o Students awarded funding by ARU that is received by working on campus
o Work with Employment Bureau

Increase number of advisers so more individual time at each session
o Allows advisers to prep before and make notes afterwards
o May lead to fewer shorter visits
o May allow for the source of the problem to be revealed sooner
o More time to devote to programming and awareness efforts
Resources
Budget Worksheets: http://www.balancetrack.org/collegestudents/index.html
Example of Estimated Expenses: http://www.sfa.osu.edu/awardguide/index.asp?tab=e
Meal plans:
http://www.wrightstatedining.com/plans/index.html
http://urds.osu.edu/dining/meal-plans/
Student ID card that can be used for multiple options:
(Buck ID) :
https://buckid.osu.edu/
(Wright1 Card):
http://www.wright.edu/wright1-card
First Year Experience which Includes First Year Seminar:
http://www.sc.edu/fye/
http://www.wright.edu/uc/firstyear/experience/
One Stop for Students (Raider Connect):
https://www.wright.edu/raider-connect/loans-scholarships-and-grants
Wright Financial Path: http://www.wright.edu/studentorgs/wfp/
Email contact: shannon.norton@wright.edu
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References
Creswell, J. W. (2007). Qualitative inquiry & research design: Choosing among five approaches
(2nd ed.). Thousand Oaks, CA: Sage.