The start of the academic year and the associated university tuition fees are once again eroding students’ already weakened purchasing power (a 2.9 per cent increase, in line with inflation). To counter this trend, Assurly, our insurtech gem offering a simple, fast and digital mortgage insurance solution, has put together a list of four tips to ensure that those who should be focusing solely on their studies can do so with dignity.
Draw up a provisional budget
To do this, it is important to take the time to analyse your monthly expenditure and identify areas where you can cut costs without compromising your quality of life, whilst avoiding impulse spending. Some may also opt for mobile apps that allow you to check your accounts online and categorise your spending (Bankin, Linxo, Revolut, etc.). Another option is to use cash: withdraw a specific amount and pay for purchases in cash.
Making the most of scholarships and financial aid
As a student, you can take advantage of numerous resources available within higher education institutions, and some universities do indeed offer discounts or free services to students. For those who are not eligible for grants, there are also particularly useful forms of financial support. When it comes to accommodation, students whose relatives cannot act as guarantors are eligible for the Visale guarantee. It is also possible to claim the Personalised Housing Allowance (APL), the Family Housing Allowance (AFL) or the Social Housing Allowance (ALS).
Keep an eye out for good deals
To keep costs down, it’s always a good idea to find out about the deals available in your area. Being a student means you can benefit from more attractive prices on transport or with certain mobile phone providers. Furthermore, meals at the Crous, which are wholesome and affordable, cost 1 euro for students on grants (3.3 euros for those not on grants), and mobile apps such as Too Good To Go or Geev offer donated food or meal boxes at reduced prices. In several towns and cities, charities (such as Linkee and Secours Populaire) also organise food aid schemes for students in the most precarious circumstances.
Changing your student loan insurance
Designed to cover student loan repayments in the event of unforeseen circumstances, student loan insurance is generally more expensive and offers little scope for customisation. Thanks to the introduction of the Lagarde Law, it has been possible since 2010 to choose an insurer other than your bank. When taking out a student loan, it is therefore advisable to choose an independent insurance provider, which can often offer more competitive rates and cover better suited to your personal circumstances.
