Student finance

Eligible full-time and part-time undergraduate students will not have to pay fees before they start their course or while they are studying, as they can apply for a Tuition Fee Loan to cover these costs. Fees will be paid directly to the University or College by the Student Loans Company. Students of any age can apply and loans will only need to be repaid once a student has left their University programme and is earning over £25,000. 

Help with living costs may be available for the duration of a student’s University programme in the form of a Maintenance Loan that attracts a low rate of interest. First and second year students can apply for up to £8,400 when living at home or £9,978 for students living away from home and outside of London. Maintenance Loan money is paid directly into the student’s bank or building society at the start of each term, in three instalments.

Tuition Fee and Maintenance Loans will be repayable after the student has finished the programme and is earning more than £25,000 per year. If earnings fall below the £25,000 threshold the repayments will stop until their earnings rise above the threshold again. Deductions are usually made through the PAYE tax system by the employer in the same way as Income Tax and National Insurance contributions. The amount paid back is determined by how much is earned, not by how much is owed, and is 9% of earnings above £25,000 a year.