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June 5, 2011
 

Student Loans and Grants

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Written by: Kyle Raffo
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Student Finance

You may be able to get help with tuition fees and living costs through student loans. However, these Loans need to be paid back. There are two student loans you may be able to get each year of your course:

A Tuition Fee Loan – to help with the cost of your tuition fees in full

A Maintenance Loan – to help with accommodation and other living costs (how much you get depends on where you live and study and your household income)

 

Tuition Fee Loans

The Tuition Fee Loan covers the tuition fees you’re charged each year of your course. It’s paid directly to your university or college. You can check your university or college prospectus or website to find out how much your tuition will cost.The maximum tuition fee a university or college can charge is:

  • • £3,290 for 2010/11
  • • £3,375 for 2011/12
  • • £9,000 for 2012/13 (or £3,465 for returning students)

Maintenance Loans

All full-time students can also apply for a Maintenance Loan to help with their living costs. The exact amount you can borrow will depend on a number of things including; your household income, where you live, when your start your course and what year of study you’re in.

The maximum Maintenance Loan available for students starting their course in 2010/11 and 2011/12 is: 

  • £3,838 if you’re living in your family home
  • £4,950 if you’re living away from home and studying outside London
  • £6,928 if you’re living away from home and studying in London
 

Student Grants

If you’re a full-time student, you can also apply for a Maintenance Grant to help with your living costs. You don’t have to pay this grant back. If you receive or qualify for benefits that take your household income into account, you can apply for a Special Support Grant instead of a Maintenance Grant. These benefits are known as means-tested benefits and include benefits such as Income Support and Housing Benefit.

A Maintenance Grant is available to help with your living costs if you’re a new or returning full-time student iand your household income is £50,020 or less. The maximum Maintenance Grant available is:

  • £2,906 for 2010/11
  • £2,906 for 2011/12
  • £3,250 for 2012/13

You’ll get the maximum Maintenance Grant if your household income is under £25,000. Also iIf you receive a Maintenance Grant your Maintenance Loan may be reduced.

Special Support Grants

If you get or qualify for Income Support or Housing Benefit you may get the Special Support Grant instead of the Maintenance Grant. The amount you can get through the Special Support Grant is the same as that available through the Maintenance Grant.

You are likely to qualify for the Special Support Grant if:

  • you’re a single parent
  • your partner is also a student
  • you have certain disabilities

If you get the Special Support Grant, it won’t affect how much you can get through the Maintenance Loan. It will also not be counted as income when working out if you’re entitled to income-related benefits or tax credits

 

Find out if your Eligible for Student Finance

Not everyone is eligible for student finance. It depends on your personal status, your course and the university or college you’re studying at. Click here to find out your eligibility for student finance

Find out how to apply

For details of how and when to apply for your student finance; simply click here

 





 
 

 
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