Latest news with #moneyexperts
The Sun
5 days ago
- Business
- The Sun
How to go to university for FREE – plus how you could get paid £30k a year while you study
CONGRATULATIONS! You've opened the dreaded brown envelope to discover you've smashed your A-levels - and university is on the cards. But are you daunted by the hefty student loan? Our top money experts reveal how you can get a debt-free degree - and the firms offering up to £30,000 a year while you study. 1 It's A-levels results day today, and thousands of students will be finding out how well they've performed in their exams. Many will have secured their uni places, or will be scrabbling through the clearing process to nab one. But you may have been put off by the extortionate cost. Tuition fees are set to increase by £285 to a maximum of £9,535 a year - or £28,605 for a typical three-year course. Students can apply for a tuition fee loan from Student Finance England - but this will be paid back once you've finished studying and earn over £25,000. Plus, you'll need to pay back any maintenance loans you claim. How much you get varies based on where you live and your parents' income - but the average is around £7,200. However, there are several ways you can get a degree without putting a major strain on your finances. More than 50,000 people began a degree apprenticeship - which allows you to study for a fully-paid degree while working - in the 2023/2024 academic year. Meanwhile, thousands of others avoid paying fees thanks to scholarships and bursaries, including through the British Army and NHS. "With rising levels of student debt and graduates struggling to secure a job after leaving university, it's no surprise more young people are questioning the traditional university route," says Lizzie Crowley, senior skills adviser for the Chartered Institute of Professional Development (CIPD). 'That's why alternatives, like degree apprenticeships, are so important." Here we explain how YOU can do it too. Get a company to pay for your ENTIRE degree You can save a huge £100,000 by picking a degree apprenticeship compared to applying and paying for it yourself. Degree apprenticeships - sometimes called sponsored degrees - allow people to go to university as part of their training, while they work for the company that's hired them. The scheme is paid for by government apprenticeship funding, so you won't have to pay for your tuition yourself. Engineering and manufacturing is a big sector for degree apprenticeships, but they are also available across lots of industries now including tech, healthcare and science, the civil service, and even law and finance. 'I don't pay a penny for my degree thanks to my apprenticeship' LUCY Yelland hasn't paid a penny for her £37,000 four-year engineering degree. After getting a B in physics and Cs in maths and geography in her A-levels, she applied for a degree apprenticeship at Siemens in 2021. To qualify for the degree apprenticeship, she needed at least two Cs. The company is paying her full tuition fees for a four-year degree in Automation and Control Engineering at the University of Salford, which would have set her back £37,000 without an apprenticeship. She spends five days a week working 9am to 5pm at Siemens, where she splits her time between academic work and hands-on engineering work. One day a week, normally a Friday, is dedicated to university work, and the rest of her time is spent on projects, collaborating with engineers and applying what she's learned in her degree. Siemens pay all of their apprentices the National Living Wage of £11.21 an hour, meaning Lucy earns an annual salary of around £23,000. The now 23-year-old from Newcastle-under-Lyme, told The Sun: "Without tooting my own horn, I've always seen myself as quite intelligent, so I always wanted a degree. "I did quite well in my A-levels - I took maths and physics and subjects like that, so I knew I wanted a degree. "But I was also really fed up with sitting behind a desk and I wanted to get hands-on experience," she added. Lucy said she also wanted the "independence" that comes with being able to earn a proper wage at 19. "I think the apprenticeship was the best of both worlds because I've got the really hands-on experience, which is also really good if I wanted to get another job, as well as the academic side." Even though she spends most of her time working rather than studying, she says she doesn't feel like she's missing out on the traditional university experience by doing an apprenticeship. She gets to socialise with the other apprentices in the company - including going to the pub on Friday nights. There's no minimum amount of time Lucy has to remain at the company after she completes her training. Siemens recruits around 14 degree apprentices each year from a range of disciplines including sales, project management, and engineering, at locations all around the country. Vacancies for the company's apprenticeships go live from December to March, and you can apply on the Siemens website. To apply, you'll normally need to be at least 18 and live in England. The entry requirements vary for each degree apprenticeship, but some will ask for at least five GCSEs at 9-4 (or A*- C on the old grading scale), including English and maths. You can also progress into one from a lower-level apprenticeship or another qualification like a T Level, according to the Department for Education (DfE). Like with any job, employers may also look for other skills like teamwork and communication, or previous work experience. The amount you earn also depends on the apprenticeship, but many companies offer annual salaries of at least £20,000, which will go up after you finish your degree. DfE analysis revealed that the median salary for degree apprentices one year after qualifying was £34,620 - compared with the national median salary of £37,430. You'll spend about 20 per cent of your time studying and 80 per cent working, and you'll achieve an undergraduate (level 6) degree, or a master's (level 7) degree at the end of your apprenticeship. Not only will you avoid student loans, you'll also get paid a competitive salary while you undertake your university course part-time. The saving could be significant, said Dr Adeshola Cole, founder of Tritek Academy. " Tuition fees for UK universities can total up to £27,750–£37,000 over three to four years," she says. "When you also factor in the salary you earn during the programme, your overall financial advantage often exceeds £100,000 compared to a traditional route." You may also get travel subsidies or accommodation allowances, depending on which company you do your apprenticeship with. 'Fantastic benefits' Founder of student network Young Professionals, Daniel Miller, says some companies are now offering sign-on bonuses of up to £3,000, which are often intended as a relocation allowance for apprentices. "Most companies will have fantastic employee benefits such as great pension schemes, health insurance, complimentary breakfast and lunches in the office as well as a whole load of other perks," he adds. However, CIPD's Lizzie Crowley warns that doing a degree apprenticeship is "not an easy option", as you'll need to balance full-time work with studying, and you won't get the traditional uni experience. Check the T&Cs of your contract - you'll often be expected to stay with the company for one or two years after you finish your training. If you don't like it and quit, you may end up having to pay back the company for your training if you end your contract early. Competition for places has also become fierce, adds Dr Cole, with applications now just as competitive as those for top universities. You can visit the UCAS website for a list of all the industries and companies that offer degree apprenticeship schemes. You can apply for a degree apprenticeship in the same way you would apply for a normal job. Most companies will require you to submit an application which usually includes a CV and cover letter. Apprenticeship schemes are advertised by employers throughout the year, unlike university applications which are normally open between September and January every year. Check company websites directly, and you can use the government's Find an Apprenticeship service to explore degree apprenticeships. Get a loan you DON'T have to pay back Don't fancy an apprenticeship and want the traditional uni experience? You may be eligible for a scholarship, bursary or grant that you don't need to pay back. Some universities offer scholarships, which can cover some or all of your tuition fees and living costs, to high-achieving students or those from disadvantaged backgrounds. Many scholarships are exclusively for international students, but there are still some on offer for people in the UK. For example, the University of Buckingham 's Headley Trust Scholarship offers full tuition fees for its two-year undergraduate law degree. Many universities also provide grants, bursaries, and hardship funds which can cover some of your tuition fees or your living costs. You can check university websites to see what funding they offer, while The Scholarship Hub provides a list of scholarships available ( Depending on your financial circumstances, you may also be eligible for charitable funding to cover some university costs. You can use the grant search tool on the Turn2us website to check if you're eligible. Join the army or NHS Some organisations will cover the full cost of your tuition fees. The British Army offers a range of bursaries and scholarships, worth up to £75,000, that will fund your degree once you commit to join the Army - normally for a minimum of four years - after you graduate. If you're aged 16 or 17, you can apply for an Army scholarship, which will give you up to £10,000 in financial support and a guaranteed career as an Army officer when you graduate. Once you're at university, you can then apply for a range of Army-funded bursaries, which can cover the whole cost of your tuition. Meanwhile, the NHS also offers bursaries that can cover your tuition fees for medical and dental students who live in England, as well as other funding both means tested and non-means tested. You can check if you're eligible by visiting Study while you work to slash your debt While it won't be free, doing a part-time degree alongside your job can save you from student debt - or at least cut it down. A part-time degree allows you to study at a slower pace over a longer period of time, so you can balance your work and family life. According to Indeed, most part-time undergraduate degrees take five or six years, but some universities allow you to be more flexible and extend your study period up to 10 years. This in turn means that your tuition fees will be lower per year, which may make them more manageable to pay off without student loans, saving you from paying interest. If you're working a full-time job alongside your degree, you could put some of your earnings towards your tuition fees - especially if you're still living at home. How much you'll pay per year will normally depend on the number of credits you're taking. For example, at Kingston University, undergraduate courses are split into 30-credit modules, each costing £2,381. So if you're taking two 30-credit modules, your fee will be £4,762. This is compared to the £9,535 annual fee for full-time students. You can check the website of the university you're interested in, or speak to their finance office, to find out exactly how much you'll pay. Many part-time students opt to live at home while studying as they don't attend as many classes during the week as full-time students. This could also save you thousands of pounds a year, as the average cost of university accommodation is now £563 a month, according to Save the Student's 2025 National Accommodation Survey. .
The Sun
09-08-2025
- The Sun
Seven easy ways to live a millionaire lifestyle on a budget – from FREE first-class travel to hotel room upgrades
DO you want to live a champagne lifestyle but only have a beer budget? Here, The Sun's money team reveal the tricks that could get you a free first-class upgrade, half-price designer clothes and three-course meals at expensive restaurants for as little as £25 - including booze. 8 8 Almost a third of people who earn £100k or more don't have enough to pay for essential bills and groceries because they're overspending on luxuries, according to Starling Bank. Footwear, flashy gadgets, household appliances, furniture and eating out are the most common luxuries that Brits love to splash out on, YouGov data shows. But you can get posh goodies without breaking the bank and we can show you how. We spoke to top money experts to get their habits, tips and tricks to help you live like the super wealthy on a budget. Book during 'shoulder season' for room upgrades 8 There is no better feeling than getting to a hotel and being told that you've been upgraded to a bigger or better room. But there's a way of boosting your chances of getting bumped up to the penthouse suite. Book your holiday during the off-season, which is called the "shoulder season". This is the period before or after the summer holidays, from April-May and September-October. Hotels are less likely to be fully booked, unlike peak times (during the school holiday periods) when they'll usually be at full capacity. Booking during the busy holiday periods means it is unlikely that there will be any spare rooms left for upgrades. Also, staff are normally rushed off their feet, and less likely to take the time to offer complimentary upgrades. It's usually much cheaper to travel during the shoulder season too. This means you can afford a fancier hotel than if you travelled at another point in the year. For example, a twin room at the five-star Hyatt Regency Kotor Bay Resort in Montenegro costs around £400 a night in August. But the same hotel room is available for nearly half the price in May - and costs around £212. Meanwhile, a classic room at the InterContinental hotel in Barcelona would set you back £259 a night in August. But the same room would cost £203 in September - saving you £56. You should also join hotel loyalty programmes to increase your chances of an upgrade. Many big hotel chains, including Hyatt, Marriott and Hilton, have a free loyalty programme which can give you discounts or free upgrades on your stay. If you often go back to a favourite hotel, then the staff will know that you are a regular customer and are also more likely to upgrade you. How to get FREE first-class train tickets We've seen the nightmare social media posts of passengers sitting on floors for hours because they couldn't get a seat in standard class. But there's a little-known way of getting first-class tickets at a big discount, or even for free, so you can escape the pile on. Simply join the rewards programmes offered by train companies. Customers who sign up for Avanti West Coast's Club Avanti rewards programme can get a free First Class ticket when they make a certain number of journeys. Sarah Coles, head of personal finance at Hargreaves Lansdown, shares her top tips to help you manage your money like a millionaire. "It's easy to fall into the trap of focusing on what feels like the most pressing priority at any one time. "It means we can go for years just trying to make ends meet and keep a lid on debt. They're great things to aim for, but they won't make you rich. "Wealthy people always have an eye on the future. They'll aim to make ends meet, but on top of that they'll have a number of pots they pay into each month – for repaying debt, saving, investing and retirement. "You may need to prioritise things like debt repayment for now, but it doesn't mean neglecting the other pots. "By keeping up these monthly payments, your wealth automatically grows every month. "You can also boost payments into each pot, every time you get a pay rise, so growth accelerates without you having to make any sacrifices in your usual spending." The ticket also gives you access to First Class lounges, where you can get complementary drinks and food, including a full English breakfast, bacon bap, pint of lager or a glass of prosecco. To get the free first-class ticket, you need to sign up to the reward programme by visiting To join, you need to create an account and share your address, email address and mobile number. You will then be sent a discount code via email, and you'll need to type this code in when booking your ticket. Book your journey at least seven days in advance of your trip. You can also get free first-class travel on EVERY journey you make with Thameslink trains. There's a secret first-class section at the back of the trains that you don't have to pay for as they are declassified. This means you can get bigger seats and access to power sockets and tables without needing to pay for it. Just make sure you are in the correct carriage before you sit down. Always check your specific route before travelling to avoid being caught out. The whole train is counted as standard class on journeys from London Blackfriars to Sevenoaks, Luton to Rainham and Sutton to St Albans (via Wimbledon or Hackbridge). Dine like royalty for as little as £25 8 You can still enjoy a fancy meal at a posh restaurant even if you're on a budget. Set menus tend to offer the best value for money, especially at lunchtime or during early 'pre-theatre' dinner slots. A set menu gives you the chance to try two or three courses with a drink at a set price. For example, at Balthazar in Covent Garden, you can get two courses for £24.50 or three for £27.50, including a complimentary non-alcoholic cocktail or glass of red or white wine. Two courses and a glass of wine would usually set you back around £47.20. Meanwhile, at British brasserie The Alice in Oxford, you can tuck into two courses for £29 or three courses for £35. A two-course meal with a side would normally cost you £43.50. 'I used my reward points to fly first class and saved £4,000' MUM-OF-ONE Maggie Hellicar used reward points to pay for a £6,117 luxury holiday with her young family. The 39-year-old, from London, used her Virgin credit card points to pay for upper class Virgin Atlantic flights to Disney World in Florida for her family of three, including husband Carl and two year old son. The admin team assistant said that by paying with her reward points she was able to save £4,000 on the cost of the trip, which cost £6,117 in total. Maggie said: 'We redeemed our Virgin Points for the most over-the-top Christmas family getaway to Disney World in Florida. 'It was our son's first Christmas, and we knew we wanted to make it special. We realised we had enough Virgin Points saved up for Upper Class flights with Virgin Atlantic, so we did it!' Maggie and her husband Carl were able to save up the points by paying for meals out, general shopping and groceries with their Virgin Atlantic Rewards+ Credit Card. The card gives you 1.5 Virgin Points for every £1 you spend. Once you have 6,000 you can convert them into a free seat on a flight. The points never expire, so you can build up your balance over several years and spend them on a big trip, like Maggie did. The couple also took advantage of bonus point offers on the Virgin Red website when shopping online. The offers increase the amount of points you can get for every £1 you spend, helping to build up your balance even faster. Meanwhile, the couple were able to build up even more points by linking their Tesco Clubcard membership to their Virgin Red account. This allowed them to convert Tesco Clubcard points into Virgin Red ones. Every £1.50 in vouchers is worth 300 Virgin Points. Maggie said: 'We were able to spend time as family for our son's first Christmas. 'It was also our son's first long haul flight, so the luxury of Upper Class seats made everything feel really special and 100% worth it." The Virgin Atlantic Reward+ Credit Card has a yearly £160 fee but the Virgin Atlantic Reward Credit Card is free to use and gives you 0.75 Virgin Points for every £1 you spend. You may need to book a table to get the deal, so do this online or by calling the restaurant before you visit. Free or cheap first-class plane ticket trick If you've ever wanted to sit at the front of the plane but can't afford the hefty price tag, then there are ways to do it for cheap or even free. One way is with a reward credit card, which gives you points, vouchers or cashback on your spending. American Express has some of the most generous offers for customers who want to spend their points on flights. Among them is the free American Express Credit Card, which allows you to collect one Avios point for every £1 you spend. You can then turn these Avios points into free flights or upgrades on your journey. If you want free airline lounge passes, then you should apply for the American Express preferred rewards gold credit card, recommends Rob Burgess, editor of frequent flyer website Head for Points. He said: 'It comes with four free airline lounge passes, which are valid at 1,400 lounges globally. 'If you can spend £3,000 in your first three months, you would also receive 20,000 American Express points, which can be used for £100 of shopping vouchers or transferred to various frequent flyer or hotel loyalty schemes.' Don't keep the card for more than a year, as the annual fee increases to £195. Don't spend on the card if you cannot repay your balance in full at the end of the month, as it has a high interest rate. Sites to bag half-price designer gear 8 Love your labels, but can't afford them? Scour reselling sites and charity shops for designer items for half the price. You can find new and unworn items with tags on secondhand websites, including Vinted and Depop, for a fraction of the price. At the time of writing, we found a never-used red Aspinal of London heart-shaped keyring on sale for £21.70 on Vinted - £28.30 cheaper than its retail price. Meanwhile, a new Mark Jacobs tote bag was on offer for £105.70 - down from around £225. An unused red Lulu Guinness purse was also available for just £42.70 - around £200 less than its normal price of £250. Plus, a seller had listed a Hugo Boss watch in its original box for £68.95 - £310.05, less than its retail price of £379. Ask the seller for pictures of any certificates of authentication before you make a purchase to ensure that an item is genuine. You can also check resale websites such as Vestiaire Collective or The RealReal, which sell pre-loved designer clothes at a discount. It's also worth scouring charity shops for designer bargains. We've previously revealed that you can get Vivienne Westwood T-shirts and Yeezy trainers for as little as £20. Check window displays and glass cabinets for designer goods, as you are likely to find the best items in these parts of the shop. Plus, don't be afraid to ask if they have any extra items in the back that have just come in. Find dupes of luxury items at bargain prices 8 Luxury products can often set you back hundreds of pounds, but there are ways to get your hands on them at a discount. Bargain retailer Poundland sells luxury Elizabeth Arden and Clarins products for up to 50% off. Among the items on offer is the Elizabeth Arden Ceramide Purifying Cream Cleanser, which currently costs just £10, down from £20. Meanwhile, you can pick up the Clarins Hydrating Toning Lotion for £15, £13 less than its normal price. It is often a lottery as to what may be available in store or online at a given time, so it is worth stocking up on your favourite product if you spot it in store. Meanwhile, many supermarkets also offer dupes of designer products. Among them is Aldi, which offers a range of designer dupes that are made with the same formulas and ingredients as designer brands. It's Lacura Blusher in coral is a dupe for the Nars orgasm blush but costs just £3.99, almost a tenth of the cost of the Nars version, which will set you back £34. Meanwhile, its Lacura lip balms cost £3.49, and are a dupe for the Summer Fridays butter balms, which cost £23. Some brands including Kate Spade and Coach also have their own outlets, where you can shop their discounted range. How to NEVER pay full price on jewellery 8 Luxury watches and jewellery often come with a hefty price tag. But there are still ways to dress to impress on a budget. Outlets are a great way to get your hands on designer jewellery at discount prices. Flannels is currently selling jewellery from a range of designers including Alexander McQueen, Versace and Balenciaga. You could get your hands on a Thomas Sabo mermaid pendant for just £10, saving you £90. Meanwhile, a Kate Spade heart embellished bangle costs £43 - down from £85. You may also be able to find luxury and designer watches at discount prices on Pawnbroker and secondhand websites. Always check items in person before you make a purchase so you are aware of any scratches or marks on the watch or band. You should also ask for proof that an item is genuine before you make a purchase to avoid being duped. Do you have a money problem that needs sorting? Get in touch by emailing money-sm@
Daily Mail
30-05-2025
- Business
- Daily Mail
Denmark raises retirement age to 70: Could Britain follow suit with the state pension?
Denmark's move to hike its retirement age to 70 by 2040 has got people asking the obvious question - could the same happen here? As things stand now, men and women's state pension age is 66, and between 2026 and 2028 it will rise to 67. Officially, the next rise to 68 is not scheduled until the mid 2040s, which would affect those born on or after April 1977. The Government is required by law to review the state pension age periodically. However, the last two reports in 2017 and 2023 recommended speeding up the increase to 68 - and then went ignored. The next review isn't due until spring 2029, but Labour might take as little notice of any findings as the Tories. It's not as if raising the state pension age is going to become any less of a political hot potato, as money experts pointed out when we asked for their views on Denmark's decision. Meanwhile, it's worth noting that the minimum pension age for accessing workplace and other private retirement savings will rise from 55 to 57 from April 2028, Governments have in the past tended to keep the state pension and private pension ages roughly 10 years apart, so any future increases could well continue to happen in tandem. What has happened to pensions in Denmark? Denmark ties its retirement age to life expectancy, and revises it every five years. The country's current retirement age is 67, and this will rise to 68 in 2030 and 69 in 2035. Despite protests in Copenhagen, an overwhelming 81-21 vote in the Danish parliament last week decided to increase it again to 70 in 2040. The latest age hike will affect Danes born from 31 December 2070 onwards. Labour might stick with 'no change' policy 'Pension ages have been rising around the developed world in the face of a combination of rising life expectancies and falling birth rates,' says former Pensions Minister Steve Webb. The UK faces major challenges in meeting the state pension, NHS and care costs of an ageing population, he says. But regarding the politics of raising the state pension age, he adds: 'Currently policy is to give at least 10 years' notice of changes, which means that increased pension ages will generate no extra revenue for at least two parliaments but will generate negative publicity straight away. Webb, who is a partner at LCP and This is Money's retirement columnist, goes on: 'It is no coincidence that the last two independent reviews, both of which recommended speeding up the move to age 68, have so far been ignored. 'It is quite possible that the next review, due during this parliament, will again lead to no change in the legal timetable for increases in state pension age.' Many people don't know their own state pension age - so check 'Each government has to review the state pension age during their term in parliament,' points out Tom Selby, director of public policy at AJ Bell. 'For those looking forward to retirement that may feel like the sword of Damocles hanging over their future pension plans. 'However, government aren't obliged to accept the recommendations of the review and any further increases in the state pension age are likely to be gradual and a long way in the future.' AJ Bell research shows almost half of all adults under state pension age don't know when they will start receiving it, so Selby suggests checking this and using the knowledge to plan ahead. 'Once you've figured out when you might expect to receive your state pension, you can start working backwards to think about when it might be possible to retire on your private pension savings,' he says. 'If things do change and your state pension age increases by a year, then you're at least starting from an informed position and hopefully won't need to make too many adjustments to your retirement plans.' > Check your state pension age: Use the Government's calculator What are the options? Raise age, moderate payments, hike taxes or means-test state pension 'When is good news, bad news? When it's about living longer and the state pension,' says Stephen Lowe, director at retirement specialist Just Group. 'The good news is that as a nation we're living longer – figures for 2023 from the Office for National Statistics show the number of people aged 90-plus has doubled over the last 30 years. But the fertility rate in the UK is dropping.' Lowe says by 2050 it's projected one in four people in the UK will be aged 65 years and over, up from almost one in five in 2018. 'Here's the bad news – it means that with more people of state pension age and fewer working people, the burden of funding the state pension becomes heavier on those paying taxes.' 'If we don't want to increase taxes, or introduce a means-tested state pension, then there are two main ways to lighten the load – either increase the age at which people receive the state pension or moderate the amount paid. 'Neither is a political vote winner but the problem isn't going away anytime soon so some changes seem almost inevitable.' State pension age rise will hit people who depend most on it hardest Other developed nations face similar challenges to Denmark on how to balance longer lives with a squeezed public purse, says Standard Life's retirement savings director Mike Ambery. 'The state pension age is subject to constant review and quicker, higher increases remain possibilities alongside other options like removing the triple lock or even means testing – all of which would prove hugely controversial and politically challenging. 'Raising the state pension age further risks hitting those most dependent on it the hardest. Lower income groups without other sources of retirement income often have shorter life expectancies and might find it harder to work into later life.' 'Any future changes must be taken with great care, and come with plenty of notice to help people plan ahead.'
