Student Finance

Student Finance

Student finance can be divided up into two parts: tuition fees and living costs. Tuition fees are currently a maximum of £9,535 for UK full-time students. Normally these increase in line with inflation and are set by the government. Fees for non UK students vary and can be found on university course pages. Tuition fee loans, to cover the full cost of your course, are available for most UK students and are paid directly to the course provider. You won’t have to pay it back until after you finish your course, when you’re earning above a certain level. When you do start to repay it takes the form of monthly repayments, the level of which depends on how much you earn.

The other costs you’ll need to cover are living costs. This includes accommodation, food, travel and other general living expenses. Maintenance loans to cover these costs can be applied for at the same time as a tuition fee loan, lending you money at the start of each term (or monthly in Scotland). How much you get depends on a range of factors including:

household income Students from lower income backgrounds are eligible for more – this is often referred to as ‘means-tested’ finance, and requires parents/guardians to provide evidence of their income.

where you study Students moving away from home to study in London receive more.

Students can also apply for grants if they’re eligible for certain benefits, disabled, or need help with childcare costs. Grants do not have to be repaid. It’s also worth looking into additional funding, in the form of scholarships, bursaries, and grants. These don’t have to be paid back either, and are awarded based on different criteria, from excelling in your subject area, getting top A level grades or excelling in extra- curricular activities. Details of these can be found on individual university websites.

Students on some health courses are eligible for the NHS Learning Support Fund (LSF) more details of which can be found here: https://www.nhsbsa.nhs.uk/nhs-learning-support-fund-lsf

Most university websites will have pages dedicated to student finance and funding. On them you’ll find general information and also information specific to that particular university. The sites below have general information.

·         An overview of student finance and how to apply for funding www.gov.uk/student-finance

 ·         Managing money, scholarships, grants, bursaries and fees https://www.ucas.com/money

 ·         Scholarships and bursaries for university study https://www.moneysavingexpert.com/family/grants-education/

 ·         Information about fees and living costs, grants and loans and discussion boards and forums https://www.thestudentroom.co.uk/student-finance/

.       Undergraduate Student Finance step by step information https://www.gov.uk/get-undergraduate-student-loan