Student Loans and Grants

Maintenance Loans

These loans are to help with living costs for the duration of the course. The figures below show the maximum Maintenance Loans available for 2013/14.

Maximum Loan for students living at home: £4,375.
Maximum Loan for students living away from home, outside London: £5,500.

Rates for final year students are different. Contact Student Finance to find out what rate applies to you.

All eligible students are entitled to 65% of the maximum figure. The remaining 35% of loan is dependent on the student’s income and that of their household. The money will be paid directly into the student’s bank or building society account in three installments – one at the start of each term. You do not have to take out the full amount that is available to you.

Applications for student loans/grants can be made on-line at Student Finance from early 2013. This guide to student finances can be very helpful to understand the loan system.

Repayment of Loans

If students have taken out both a Tuition Fee Loan and Maintenance Loan the amounts will be added together. Loans will be repayable after the student has finished the course. Each month you pay back 9% of any income over £21,000.

For more information on loan repayments, visit the Student Finance Government website.

Maintenance Grants

There is a non-repayable Maintenance Grant available for all eligible full-time students from lower income households. It is to help with living costs that you may need to pay such as accommodation, food, travel and course materials such as books.

The amount of help a student receives will depend on household income. The grant is paid into the student’s bank account in three installments – one at the start of each term. The Maintenance Grant does not need to be paid back.

For more information on Maintenance Grants, visit the Student Finance Government website.