Finances

People who get a degree earn more money than people who don't - even though they don't start working straight after school.  Over a life time, the additional money earned by those with degrees is more than the cost of student loans, so going to university is a good investment - never mind going to a world leading university like Cambridge.

Bursaries

Free money you don't pay back

Good news!  The Univeristy of Cambridge is a very rich instutition.

Committed to access to study here based on aptitude not means, the University puts its money where its mouth is.  £10 million of money, every year.  The Cambridge bursary is one of the most generous in the country, designed to cover the cost of rent (c. £3500 per year), and it is available to a wide range of students.  If you receive any income assessed support from student finance (household income below £50 000) you will definitely receive a bursary (exactly how much varies with income).

Girton also gives out around 30 of its own bursaries to students every year.  They are the same value as the Cambridge bursary and back up the College's support for students from lower income backgrounds without a history of higher education.

Sticky Situations

If you get to a point where you have no money, can't afford to pay your College bill, or are otherwise struggling Girton is able to provide interest-free emergency loans, grants and bill extensions to make sure you can continue to focus on your studies.  Whilst this isn't an everyday situation, its an important safety net to help students most in need.

You will have to pay all of your debts (not Tuition Fees) to the University before you can graduate though.

Fees

From 2012 the University will be charging £9000 per year for its courses.  This is the level of fees charged by most other UK universities, so Cambridge is not more expensive than other universities.  Since Cambridge students get supervisions, weekly small group (usually 1 to 3 students) tutorials with a leader in their subject, this makes it quite good value for money compared to elsewhere.

If you are eligible for a full bursary you'll also be eligible for a lower level of tuition fee, £6000 per year, so Cambridge would actually be far cheaper than studying at another top UK university!  Don't forget that the tuition fees do not have to be paid until you are earning £21 000 per year after you graduate, at which point you pay 9% tax on your earnings above £21 000 until your loan is repaid.  Bursaries do not have to be repaid at all.

Every student can also get a loan that is paid into their bank account to help with living costs from HM Government.  For English students, Student Finance England issues these maintenance loans.  Students from households with an income below £50 000 can also receive additional loan (above the standard amount), and some can receive a Government bursary too.  With this, Cambridge bursaries, a free (0% interest) student overdraft that doesn't have to be paid back until 1 year after graduation, money from holiday work, and money from your family (if they can afford to contribute to your living costs), you should be able to make ends meet in Cambridge more than other UK universities.

The Cost of Life in Cambridge

Cambridge life is not very expensive.  Although the city is expensive, student living is not.  

Transport is cheap - namely free.  Almost everyone cycles for 12-15 minutes cycle down a straight road to the University teaching sites.  It certainly wakes you up in the morning, keeps everybody fit, and is really quite pleasent in such a beautiful city.  For those who prefer, buses run every 10 minutes from 0600 until 1830, and every 30 minutes until 0000.  Plus, cheap week-long tickets are available form the Girton Porters' Lodge.  Of course, you could just take the 30 minutes it takes to walk.

Girton helpfully has loads of student kitchens, allowing you to cook for yourself and keep costs down.  Some Colleges force students to eat in the cafeteria, and even though its good value at around £3 to £4 per meal, its much better to have the constant choice at Girton.

Girton also has a continuous rent period from October to June, at no extra cost compared to other Colleges.  This means that you don't have to lug all of your belongings between uni and home every Christmas and Easter as at other Colleges, saving you and your parents' time and money.

Night life is pretty cheap.  All of the student nights have cheap drinks (£1.50 vodka redbull, £2 beers, £1.50 WKD ...), the famous ADC Theatre is a cheap night out, and there's always the College bar if you're feeling more homeward bound.

Part time work is not allowed - nor is it really possible.  The short terms of 8 weeks are crammed, making it virtually impossible to fit in a job too.  However, the short terms also mean that you're back at home before all the other university students so you'll have first grabs at the part time jobs on offer (especially during the 13 week summer!).  With such short terms and such generous bursaries, Cambridge is a good place to study if money's tight.