Student Finance 1

Student Finance England

• You can now apply for student finance:
https://www.gov.uk/apply-online-for-student-finance

• Tuition Fee Loan

• Maintenance Loan

• Unless you plan to study outside the UK you will apply to

Student Finance England – home residence in England
• Only need a conditional offer to apply
• Apply online and have your passport, national insurance
number and bank details ready
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 Tuition Fees
• Tuition fees do not need to be paid for up front
• Tuition Fee Loan: not means tested
• Paid directly to the university
• Set at the standard maximum for annual fees: £9,250
• Paid regardless of living arrangements and location
of the university
• Degree apprenticeships: employer covers tuition
fees

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Maintenance
• Maintenance Loan: means tested and paid in 3 instalments

• Evidence of household income/circumstances required

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How much can I borrow?

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https://www.gov.uk/student-finance-calculator
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Maintenance
• Maintenance Loan: means tested and paid in 3 instalments
• Evidence of household income/circumstances required
• This will be used to contribute towards your living costs:
– Rent
– Utility Bills (gas, water, electricity)
– Phone
– Transport
– Food
– Clothes
• Create a budget
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 Budgeting

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Borrowing Money
• Interest is charged from the day your loan is paid
• Interest will be added to your loan while you are studying and
continue until you have repaid in full

• This is not an ordinary context for borrowing!

• This is an investment in your education and future
prospects
• Make sure it is a worthwhile investment

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Repayment of Loans
Once you’re earning over the threshold (£25,000 for
2023-24):
• You’ll pay 9% of anything you earn above the threshold
• Your employer will deduct this from your salary
automatically, like a tax

If your annual salary is £30,000, you'll pay £37.50 per

month

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Other Sources of Finance
• There are lots of bursaries, grants and subsidies available for
particular courses/universities
• Many are means tested, but not all
• If you have a disability, you may be able to apply for additional
finance that you won’t have to pay back
• Do your research on your course at your Firm choice
and your Insurance choice universities
• Working part time in term time and/or full time
in the holidays

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Websites
• https://www.gov.uk/apply-online-for-student-finance - Apply to
Student Finance England
• https://www.ucas.com/finance/managing-money/budget-
calculator - Budget guides for different universities
• https://www.advancingaccess.ac.uk/2/content/24/resources/1
37 - Russell Group universities bursaries guide
• https://www.nhsbsa.nhs.uk/nhs-bursary-students and NHS
Learning Support Fund (LSF) | NHSBSA - NHS Bursaries
Guide
• https://www.gov.uk/disabled-students-allowance-dsa –
funding for students with a learning difficulty, health problem
or disability
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