Student Finance
Student finance covers the full tuition fees for your chosen university and also provides maintenance loans or grants for each year of study.
Tuition Fees: £9,250 per year, paid directly to the university.
Maintenance Loans/Grants: Up to £16,000 per year, paid directly to you.
The maintenance amount includes additional grants available to students, which are detailed below:
Childcare Grant – full-time students only
Parents’ Learning Allowance – full-time students only
Adult Dependants’ Grant – full-time students only
Most of the funding provided to you and the university is offered as a student loan, but it works very differently from a conventional loan. Here’s why:
Repayments begin only after you have finished your course, ideally after earning your degree.
You only repay 9% of any income above £27,295 per year.
If your income is below £27,295, no repayments are required.
Any remaining debt is written off after 30 years, regardless of the amount repaid.
The loan does not appear on your credit report.
It does not affect your credit rating in any way.
