You will have been asked at the start of your programme of study to confirm that you have sufficient funds to pay for your fees and living expenses.
Currently (academic year 2013/14) the University estimates that a single student will require a minimum of £12,900 per year for living expenses. Of course, if you enjoy expensive entertainments or shopping for designer clothes, you may need to increase this figure! For academic year 2014/15, the University is providing a minimum-to-maximum estimated range. See information from the University about living costs.
Students with partners and families to support will also need to increase this figure accordingly. See further information for students with dependants.
If you are intending to work to support yourself while you are studying, you should refer to the University's Paid Work Guidelines, which GTC has adopted. You should also make yourself aware of potential tax implications; the Low Incomes Tax Reform Group provides a useful tax guide for students.
The Oxford University Student Union (OUSU) can provide some financial advice to students.
Medical students may also find the Money4MedStudents website useful.
If you are in financial difficulty, it is better to seek help immediately than to wait until the situation is critical.
College hardship funds
The College has a limited amount of funds each year in case of student hardship in unforeseen circumstances. Students who feel they may be in need of hardship funds should make an appointment with Mike Newton, Acting College Accountant, in the first instance. Loans and grants will not be made available to students who have embarked on a programme with insufficient funding.
Other awards available from the College
University hardship funds
The University Committee on Student Hardship makes grants to students who find themselves in unexpected financial difficulties. It is essential that these should have arisen from circumstances not within the student’s control, and could not reasonably have been foreseen.
It should be noted that the College is required to confirm that the applicant had sufficient financial resources at the time of acceptance, and that the College has to verify the applicant’s statement of estimated income for the period which the grant is being asked.
The Committee is unlikely to make a grant unless the College supports the application. Therefore it is essential for anyone wishing to make an application to discuss the matter first with Mike Newton, Acting College Accountant
Outstanding College accounts
All outstanding bills to College must be paid before a degree is conferred. The College reserves the right not to present a student for graduation if their account has not been paid.