Student living costs
When preparing a budget for starting University, it is important to understand what your necessary expected costs will be and what you should have enough money to pay for.
Fixed living costs
Fixed living costs (regular payments) include:
- internet charges
- electricity and gas contracts
- telephone bills
- TV licence
- insurance costs
- potential council tax bills
These are regular costs relating to where you are living, typically incurring on a monthly basis.
Not all of the types of costs outlined below will be relevant for every student and the costs will vary depending on your preferences.
Most of these costs can be researched and estimated costs can be added to a budget ahead of arriving at your new home.
Accommodation fees/rent (essential)
If living in University accommodation, you will have to pay accommodation fees.
If you are living in private accommodation, the amount of rent you will need to pay will vary. The cost of rent will not usually include any bills or utilities.
Often a landlord will request an additional month and a half rent value as an up-front deposit and therefore your initial cost when moving in could be very high.
You will receive this back if you meet the conditions of the property when leaving, and this deposit can then be used for your next rented property.
Internet access (essential)
Internet access is included in the rent of most University of Edinburgh owned accommodation.
You can also access wireless internet (eduroam) at all University campuses.
If you rent privately you will normally need to set up internet access. The cost is not normally included in the rent.
Gas and electricity bills (essential)
If you are in University of Edinburgh owned accommodation, the cost of heat and electricity will be included in your rent.
If you rent privately, your electricity and gas can be supplied by a number of different companies. There is usually an existing agreement with a provider when you move in.
Check with the landlord who the provider is, and whether you can change supplier. You can often save money if you change.
Mobile telephones (essential)
|Contract||A fixed monthly cost to include phone calls, texts and internet access. Contracts usually last between 12 and 24 months.|
|Pay-as-you-go||Pre-pay for phone calls, texts and internet access by buying credit. There is no contract so it can be a better option if you will be in the UK for less than a year.|
If you are in University of Edinburgh owned accommodation, you will have a pay-as-you-go landline telephone in your bedroom.
If you rent privately you may wish to install a landline. Check with your landlord if there is already a landline installed and who is the service provider.
Contents insurance (optional)
You may want to buy contents insurance for your home to protect your belongings in case of theft or damage.
Endsleigh is an insurance company that specialises in student insurance and can also cover expensive items (such as laptops), musical instruments, bikes, tuition fees and rent protection. It is recommended because of the lower rates, 0% APR and it is easy to set up.
Council Tax (if relevant)
Council tax is a charge that is used to pay for local services such as rubbish collection, street cleaning, sewerage, water, police and schools. It is collected by the local authority.
If you are a full-time student you may be exempt from paying council tax, but you must remember to register.
Digital TV (optional)
Television in the UK is digital, which includes many free channels.
Other services are available which allow you to watch more channels. You pay a monthly fee and normally agree to 12-18 month contract.
Check with your landlord or letting agency to make sure there are no restrictions if you want to install this type of service.
You need to buy an annual TV licence to watch or record live TV programmes on any channel, or download or watch programmes on BBC iPlayer, All4, Sky Go or YouTube on any TV or mobile device.
This also applies to students who live in University of Edinburgh-owned accommodation.
Variable living costs (irregular payments)
Buying, cooking and eating food is a necessity, but the costs of food will vary depending on taste, diet, occasion and how much funding is available to spend on a daily, weekly and monthly basis. It is important that you have enough money after estimating your fixed costs for food.
If you are living in catered accommodation, you will still need to buy lunch.
You may need to budget the costs of daily travel to get to your classes, and the costs will be dependent on how far you have to travel and how frequently.
There are many ways to get around the city of Edinburgh and we would recommend that you take a bit of time in advance of starting to work out if you need transport, how frequently and how much it would cost.
Please note that many public transport operators do offer student deals and also seasonal ticket discounts.
It is important that you have some funding available to ensure you can do the things that make you happy.
These costs will vary depending on your interests, but we recommend that some money is set aside each month so that you can pursue your interests and explore new ones.