With the furore over ‘Sachsgate’ plastered all over the news you may not have noticed the little slip that the Government made over next year’s student grants.

Because of a miscalculation, the threshold for receiving a non-repayable grant has tumbled from £60,000 to £50,020.

While most applicants won’t be affected, those who’s parents earn just over the £50,000 mark will lose out on around £500 per year.

Not to rub salt in the wound but that’s a laptop, a week’s holiday or one cinema trip per week for a year - with popcorn.

So if you know anyone in this unfortunate position here are a few things you can do to ease the pain:

1. Join studentbeans.com

Obviously the best place to head in a financial crisis of this magnitude is to the leading student offers website in the UK.

There they can make use of Student Money Saving Tips,  2 for 1 cinema offers and other deals posted several times daily on the Beanboard.

2. The art of the budget

Having been a student for some time now (I’m assuming that, reading the studentbeans.com blog, you’re a student) you’ll be able to pass on to your impoverished friend the art of budgeting.

If however, you’ve been winging it since Fresher’s Week then this article on student budgeting will sort them out.

3. Have a practical Christmas and a thrifty New Year

Forget bath salts or drinking games - help your friend by giving them something useful, whether they ask for it or not.

Supermarket gift vouchers and a student cookbook may not go down well at first, but several months down the line when they’re scraping together the pennies for a tin of tuna, they’ll be thankful for your resourcefulness.