Choosing your support

We always pay cash awards directly through a bank transfer (BACS). You must provide us with your bank details so that we can pay you your award.

The cash award is paid into your bank account in three instalments:

• term one: 25%
• term two: 50%
• term three: 25%.

Receiving your support in a cash sum:

• gives you the greatest flexibility
• reduces the need to borrow money as an overdraft, credit card or loan
• gives you more disposable income if you already have a plan for paying your tuition fees or expect to receive tuition fee loan.

However, a cash sum also means:

• there is more responsibility on you to manage your money carefully a greater risk of making money-management mistakes
• you will not reduce your overall student loan debt. 

We deduct the discount from your overall University accommodation bill, and split your reduced accommodation fees into your chosen instalment plan.

We will send you an accommodation statement early October. If your Leeds Bursary is agreed before then, the statement will already show that it is reduced. If your Leeds Bursary is agreed after this date, you can request an amended statement – by email the Fees team at fees@leeds.ac.uk.

Receiving your support as a University-owned accommodation discount:

• reduces your accommodation instalments and the potential for large rent arrears
• may help you manage your money, as rent is often the largest expense.

However, a University-owned accommodation discount also means:

• the award will not be paid to you directly if a sponsor or family member is paying your full accommodation charges
• the award will not reduce your student loan debt.

This discount is deducted from your overall tuition fee. If you are taking a tuition fee loan, we will inform  your student finance Awarding Body   about the reduced fee, and they will reduce your tuition fee loan accordingly. If you are paying the remaining tuition fees yourself, the reduced fee will be split into the instalment plan you have chosen. 

Receiving your support as a tuition fee discount:

• reduces your tuition fee loan, which is helpful if you are likely to move into a high-earning career and are concerned about paying interest on your loan once you are earning
• is a simple way to receive the award, minimising confusion with other financial commitments.

However, a tuition fee discount also means:

• you may not benefit from taking a discount to reduce your overall debt as many students never repay their loans in full
• your monthly loan repayments would be the same regardless of whether you took a tuition fee loan for £9,250 or reduced it by the value of your Leeds Bursary award by using the tuition fee discount, as the repayment amount is calculated as a percentage of your earnings, not a percentage of your loan
• the award will not be paid to you directly
• the award will not help with short-term budgeting or money management.