Grants and Loans
At university, you will have two main types of expenses: tuition fees to pay for the actual course and your own living costs.
UK/EU students may be eligible for loans and grants to help cover these costs and the different types of support are outlined below. For more information and advice and to apply online and check your eligibility visit www.direct.gov.uk/studentfinance
Broadly speaking, grants do not have to be repaid and the amount you get will normally depend on your family’s income and student loans have to be repaid after your course, but how soon and how much you repay will depend on your salary.
International students should visit the fees, costs and funding section for international students for more information.
Higher Education Maintenance Grant
A non-repayable maintenance grant is normally available to UK students who come from low income families to assist with living expenses. The amount you are eligible for will depend on your own personal circumstances and the income of your family household. The maximum amount available is £3,250 a year, which is available if your household income is under £25,000 a year. A reduced maintenance grant will be available to students with a household income up to £42,600. Mature students will be eligible for grants based on their own personal circumstances.
Maintenance loans
Most UK students applying for a full-time undergraduate course are eligible for a maintenance loan to help pay for living expenses. Interest is charged on your loan at the rate of inflation plus 3% while you are studying. After you graduate, the percentage above inflation varies depending on the amount you earn but will not be more than 3%. You can find more information on direct.gov
The amount you can borrow will depend on factors like your household income, where you live while you are studying and how much maintenance grant you receive. For students studying in London and living away from home the maximum loan is £7,675 per year. For those living at home the maximum loan will be £4,375 per year.
This loan is repayable once you have left university and your income has reached a certain level. If you start in September 2012 you will not have to make any repayments until you earn £21,000, after that you will pay 9% of what you earn above £21,000. There are some easy to follow examples on the direct.gov website to help you find out how repayment works.
Note: Students on some programmes within the Health Studies area and in receipt of a bursary, may not be eligible for a reduced rate student loan.
Tuition fee loan
In addition to the maintenance loan, UK/EU students can apply for a loan for up to £9,000 for 2012/13 to cover university tuition fees. The loan is not dependent upon your family income. Like the maintenance loan, you would start to repay it once you have left university and once your income reaches a certain level.
Access to Learning Funds
The Access to Learning Fund is a government fund administered by the University to support students experiencing financial hardship. These resources are provided to assist students who may not have the necessary funding to support themselves or are experiencing financial difficulties due to unforeseen circumstances. You can find out more from our Student Welfare Advice Team.
Professional and Career Development Loans
These are bank loans that can be used to help pay for work related learning. You can borrow between £300 and £10,000 to help support the cost of up to two years of learning (or three years if it includes one year's relevant unpaid work). More on career development loans.
Part-time undergraduate UK students
Part time courses that are at least 25 per cent of an equivalent full-time course each year are eligible to apply for Tuition Fee Loans. New part-time students can borrow up to £6,750 to pay for tuition fees.
There are a total of 1,095 new scholarships available for students starting undergraduate courses in Autumn 2012 as part of our National Scholarship Programme (NSP) offering awarded on a pro-rata basis for part time students. You can find more information on our NSP information page.
How to apply for government help
UK/EU students should apply for student loans and other financial help from the government as soon as you have received an offer of a university place.
• Apply Online - you can apply online for financial support at www.direct.gov.uk/studentfinance
