Most students, even those on a scholarship or getting financial assistance from their parents, have to watch every penny. Stick to your budget carefully, because not being able to pay your bills can be a major source of stress.
The biggest expenses are:
- housing
- food
- insurance
Get organised
To develop a monthly budget, we suggest you make a table with two columns: required expenses on the left and income on the right. You can use this Excel table (in French) as a template. That will tell you how much money you have left over for discretionary items, or if you need to get a part-time job to cover all your costs.
Invoices may be payable every four or six months, so be sure to factor that into your budget.
If you find yourself in the second category, try to find a job that fits in well with your studies – one with irregular hours or a long commute would be hard to manage. Since you will have a heavy workload during the school year, this type of job may be more appropriate for the summer or during school holidays. Alternatively, a position as a student assistant would be a good choice.
Avoid debt / tips for managing your budget
Another word to the wise: always pay your bills on time, and if you find yourself in debt, take steps to get out of it quickly. Feel free to schedule an appointment with the social consultation for personalized advice.
Ressources
Social consultation
Social advisors are available to offer you support, work with you to find personalized solutions and refer you to the right specialists if necessary.
Financing your studies
Although tuition fees are reasonable at EPFL, the cost of living is high in Switzerland. It is important to establish a budget for the entire duration of your studies: plan for approximately 30’000.- CHF per year to cover your expenses.