University Level Student Finance
Our degrees, HNDs and HNCs cost a lot less than you might think. Plus, there's lots of grants and loans available for full time and part time students.
You do not need to pay these up front and may be eligible for a fees loan which will be paid direct to the college.
In addition to the fees loan, you may apply for extra financial support. For a quick estimate of what support you might expect to receive try the student finance calculator https://www.gov.uk/student-finance-calculator
Maintenance Loan for full time courses
This is to help with living costs. The maximum amount you can borrow depends upon where you live and part of the loan depends on household income.
- Living at home – up to £7,987 for the year
- Living away from home – up to £9,488 for the year
Maintenance Loan for part time courses
This is to help with living costs. How much you can get depends on where you live while studying, your household income and your course intensity
Adult Dependants' Grants (ADG) – full time only
You can apply for an Adult Dependants' Grant if you have a partner or another adult who depends on you financially. You can get up to £3,190 a year depending on your household income, which is your income plus the income of your dependants (including your husband, wife or partner). Your personal circumstances, for example if you’re married or have children and what other grants you’re receiving, for example Childcare Grant
Parents' Learning Allowance (PLA) – full time only
This helps with course-related costs if you have dependent children. You can get up to £1,821 a year depending on your income and the income of your husband, wife or partner and any dependant.
Childcare Grant (CCG) – full time only
You can apply for help to pay your childcare costs. You could get up to 85% of your weekly costs – a maximum of £179.62 per week for one child, or £307.95 per week if you have two or more children. If either you or your partner get the childcare element of Working Tax Credit or Universal Credit, or Tax-Free Childcare from HM Revenue & Customs, you won’t be able to get Childcare Grant as well, but you can choose to get it instead.
Disabled Students’ Allowances (DSAs)
DSAs are to cover some of the extra costs you have because of a mental health problem, long term illness or any other disability. You can get the allowances on top of your other student finance. You won’t need to repay DSAs. How much you get depends on your individual needs and NOT your household income.
How much and when do I repay?
You’ll have to repay anything you borrow, but it works a bit differently than you might expect. How much you repay each month depends on your income, not how much you borrowed.
You won’t have to repay anything until you’re earning over a certain amount, which is currently £27,295 a year. If you earn less than that, you won’t have to repay anything. If you’re earning more than that, we’ll work out your repayments at 9% of your income over that amount.
What about interest?
You‘re charged interest from the day your first payment is made until your loan is repaid in full or cancelled. The interest rate applied to your loan is updated once a year in September, meaning it may increase or decrease.
While you’re studying, interest is 5.6%.
This is made up of the Retail Price Index (RPI) plus 3%. RPI is currently set at 2.6%.
This rate applies until the 5 April after you finish or leave your course, or for the first 4 years of your course if you’re studying part-time, unless the RPI changes.
If you visit https://www.gov.uk/student-finance for more information and details on how to apply. Don't wait until you have a place confirmed before applying for finance. You can change any details later if you need to.
Students can find a range of tools, videos and guides to help you apply quickly and successfully by visiting www.thestudentroom.co.uk/studentfinance
Additional Financial Support
The Access to Learning Fund (ALF) provides scholarships for FULL and PART time students (subject to conditions). Any help you receive from the fund is usually non-repayable. Please contact the Support Funds Team on 0191 490 4627 or email firstname.lastname@example.org for more information.