There are two main costs when thinking about your degree programme:

Tuition Fees – cost of the course

Between £6,000- £9,250

Maintenance costs – cost of living

Think about your accommodation, travel, food and course materials.

Tuition Fee Loan
  • Covers all of the student’s tuition fees (£6,000-£9,250)
  • Non-means tested and available to everyone
  • Nothing is paid upfront
  • Fees are paid directly to the University by the student loans company
  • Not compulsory – students can pay full/part of the tuition fee
Maintenance Loan

The table below indicates what Maintenance Loan you could be entitled to :

Household Income Staying at Home Moving Away Moving to London
£25,000 and under £7,747 £9,203 £12,010
£30,000 £7,095 £8,544 £11,340
£35,000 £6,442 £7,884 £10,670
£40,000 £5,789 £7,225 £10,000
£45,000 £5,137 £6,565 £9,330
£50,000 £4,484 £5,905 £8,659
£55,000 £3,831 £5,246 £7,989
£60,000 £3,410 £4,586 £7,319
£65, 000 + £3,410 £4,289 £6,649

Students can get a quick estimate of their student finance entitlement using the calculator on gov.uk.

You can be assessed as an independent if you :

  • Are over 25
  • Married/divorced
  • Have children
  • Have no living parents
  • Are estranged from your parents
  • Are a care leaver
  • Have no means of contacting your parents or it is not safe to do so
  • Have supported yourself financially for at least 3 years
The Payment Process

Tuition Fee Loans: are paid directly to the institution in separate installments

Maintenance Loans/ Grants/Bursaries/ Scholarships: are paid directly to the student*

Core Student Finance is paid in 3 instalments:

  • The 1st instalment is triggered by enrolment
  • The 2nd and 3rd instalments are automatically paid at the start of each subsequent term

*The payment process for bursaries, scholarships and grants will differ according to each institution

Dependents Allowance

  • Money available if you have child or adult dependants
  • Means tested
  • Full-time students only
  • Non-repayable
Parents’ Learning Allowance Up to £1,766 per year
Childcare Grant 85% of actual childcare costs up to a maximum of £174.22 per week for one child and £298.69 per week for two or more children
Adult Dependants’ Grant  Up to £3,094 per year

Disabled Students Allowance

Specialist equipment allowance Up to £5,849 for duration of course
Non-medical helpers allowance Up to £23,258 a year
General allowance Up to £1,954 a year
Disability-related travel costs Reasonable spending on extra travel costs incurred by the student as a result of their condition to attend their HEI

Additional Student Support : Part Time Employment

  • Student job fairs at universities
  • Summer/ holiday jobs
  • The chance to work at the University
    • Student Ambassadors
    • Students’ Union venues
  • Ideally look for a job that’s going to be useful to your course, or that gives you a good set of skills for your CV
  • No more than 16 hours per week
Repayments
  • Repayable only when students are earning over £26,725 per year
  • Repay 9% of income above £26,725
  • Repayments are deducted from your salary (via tax system)
  • Any outstanding balance after 30 years is cleared
Income each year before tax Income from which 9% is deducted Monthly Repayment (Approx.)
£26,575 £0 £0
£30,000 £4,275 £25
£35,000 £9,275 £63
£40,000 £14,275 £100
£45,000 £19,275 £138
£50,000 £24,275 £175

Rates of Interest

    • Whilst studying at University

    – Rate of inflation (RPI is about 2.4% for 2020/21) + 3%

    • If earning less than £26,575

    RPI

    • If earning between £26,575 £47,835

    –RPI + up to 3%, depending on income

    • If earning over £47,835

    RPI + 3%

N.B. If you lose touch with SLC or do not send them the information they require RPI + 3% (5.4%), irrespective of income, until SLC have the information they require

For further information on student finance and applications, go to gov.uk.