Are You A Student Moving To London?

You might not have thought this far ahead, but you’ll need to open a bank account in London in order to maintain your finances and collect any wages you might earn while in the country. The process isn’t an incredibly difficult one, but it does require a bit more effort than opening an account in your hometown.

There are four types of documentation generally needed for a student to open a bank account in London. You’ll need a passport, a valid visa, a UCAS letter or letter from your university providing evidence of your studies, and a utility bill or tenancy agreement with your name and address. Note that you might need additional documents – it’s important to check with the bank or financial institution in question for more specific details.

London is an incredible city with a wealth of culture and entertainment to enjoy. It is not, however, a particularly affordable city. This is especially true when you’re living on a student’s budget. Here are a few tips to keep in mind to help stretch your money as far as you possibly can.

Eat In

There are many great restaurants in London, but there is an equal number of quality grocers. Consider learning how to cook some authentic London fare and impressing your family when you return home!

Create a Detailed Budget

This might seem like a given, but you’d be surprised at how often it’s overlooked. Sit down and create a realistic budget. Detail everything, from pens for a class to the price of a coffee every month. Understand exactly where you stand so you know where to save and where to splurge.

Enjoy Student Discounts

Students can enjoy thousands of free events, seminars, and lectures held in London. Transportation costs don’t have to be prohibitive, either. Students can sign up for discounted travel and save 30% on London travel cards. In fact, London is a fairly great city to study in, with thousands of student discounts for books, the cinema, and even various restaurants. You can take advantage of free entertainment, such as discovering historical London, and visiting Royal Parks, galleries, and museums.

Without a doubt, the biggest non-tuition expense you’ll face is your rental costs of the space you plan to live in. The best universities in London provide a Halls of Residence option, which is essentially dorm living. Accommodations in Halls of Residence, such as cafeterias, vary from university to university and may alter the price you pay.

The cost of living in London is much higher than other parts of the United Kingdom. However, you should know that those areas that lie further away from the heart of the city (Zone 1) tend to have lower rental costs.

Regardless, take your time when choosing where you want to live. You’ll be there for the duration of the school year at least, so its location relative to your school as well as public transport and other services can make your life more comfortable (and potentially save you more money, too).

While in the United States a college student can work however many hours as they’d like. The UK, however, has tighter restrictions on how much work a student can do. An international student studying in London on a student visa can work up to 20 hours a week while they are actively studying. During holidays students may work full time, but this is the only exception to the rule.

There is another restriction to keep in mind, too. A student’s university must be listed on the UK government’s UKVI sponsor list as well as the list of recognized bodies. Most institutions that can provide you with a CAS will be listed under UKVI, you’ll want to make sure they are included in both lists.

Even if you live near the university you’ll be attending, you may find you’ll still want to access the other parts of London, if not other areas of the UK as well. Buying a vehicle is generally an expensive option. Instead, you can utilize London’s extensive public transportation options. With buses, trains, and subways moving along routes through all nine zones, everything in the city will always be within your reach.

The costs associated with public transportation are dependent on the methods used and how often you use them. Like housing, London has higher transportation costs than most of the UK. However, students are eligible for a discount. The Oyster card program allows students to save 30% on their transportation costs. Students can apply for them online but will need to wait until they are enrolled in a university and have secured housing (a London address is required as part of the application). Oyster cards are only available to students who are at least 18 years old.

If you’re attending a university in London (or anywhere in the UK), you’ll need to acquire a student visa. You should be aware upfront that those applying for a student visa must have an unconditional offer on a course with a licensed student sponsor.

Your University will send you CAS number (called a Confirmation of Acceptance for Studies). You will use the CAS number when you can apply for your visa

Evidence of Income – Here you will need to provide documentation that shows you can afford your tuition as well as your living costs. You’ll need to show that you’ll have roughly £1,400 a month for nine months to cover living expenses.

If you meet these two requirements, you can then submit your application online! You will, at some point, need to have your photograph and fingerprints taken at an approved visa application centre, but that’s after the application has been submitted.

The other expenses you need to cover—like food, entertainment, and your mobile phone plan, for example—are harder to give an estimate on because they really depend on the choices you make. Some universities do give an estimate, such as University College London. They recommend setting aside $500 a week to cover personal items, necessities, insurance, and classroom materials. Ultimately, it’s up to you to shop around to find what you need in a price range you feel comfortable with, and to determine what it is you actually need versus what you simply want. Try to keep everything in a reasonable balance; if you find yourself short of cash at the end of the week, take a moment to reconsider your expenses and what you can change going forward. It may not be easy (or even possible) to make more money to compensate.

There are, of course, some ways to help offset the cost of living. Enrolling as a student in the United Kingdom, for example, gets you a National Union of Students ID card. The NUS card is recognized by many shops and services and will provide you with discounts on everyday items if you’re willing to shop where it’s honored. Use this to your advantage to keep as much money in your wallet as possible.

Careful planning and research is the key to making an easy transition into London student life. If you can visit the city before you begin your studies (not just your university or where you’ll be living). The more you know beforehand, the better prepared you’ll be and the easier you’ll adapt.