Financial wellbeing: MyBnk and Campus Living Villages collaboration

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How we’re collaborating with MyBnk

MyBnk specialise in developing financial training workshops for young people, and we’ve been working with them since the start of 2018 to develop a new training and workshop programme; tailored to university students moving away from home for the first time.

The pilot programme will launch at our University of Bedfordshire accommodation as new students move in.

Find out more about MyBnk.

What we’ve done to help remedy the situation

In short, we recognised that financial support is essential, and something we are bound to provide with 13,000 students living in our UK halls.

On the other hand, we’re aware that we won’t always be able to deliver the specialist advice that our students need, so we started searching for a partner who could.

Staff training

We want to ensure that staff can provide guidance and signpost students appropriately, whether they are struggling or they want to put measures in place to avoid future issues.

Pre-move-in workshops

We hope to provide students with an overview of what to expect from money management when they start their academic career.

Arrears workshops

These sessions will support students who are in arrears and provide advice and guidance on how to get back on track.

Drop-in sessions

During the first six weeks of the year, students will have the option to attend drop-in sessions, as they adjust to managing their finances independently.

#MoneyHacks

See our #MoneyHacks information leaflet, ‘Top tips for managing your finances‘, for more advice and guidance on managing money.

We will be evaluating and assessing this pilot throughout the end of 2018 and if successful, we hope to be able to roll out the programme to the rest of the portfolio.

Drop-in sessions

During the first six weeks of the year, students will have the option to attend drop-in sessions, as they adjust to managing their finances independently.

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Who we’re supporting

Our work with MyBnk will eventually have a multi-pronged approach, whereby we will focus support toward students at financially vulnerable points in their university career.

Before you move in

We hope to reach a stage where we are proactively helping to prevent debt, rather than supporting students who are already in a bad place financially – and potentially mentally – as a result.

We have created a finance hub to provide students with some handy tips on how to manage their money wisely.

Throughout your time at university

Simply preparing a student for money management will never be enough, as potential issues could occur at any time. We want to keep reiterating and refreshing our support system while our students are at university, so you are – wherever possible – never taken by surprise.

When you need help

For one reason or another, some students could still end up in financial difficulty and taking a proactive approach to money management advice might be forgotten with other factors affecting their lives. For this reason, we will always provide any additional care we can, when our tenants find themselves struggling.