Student Finance

Student Finance England offer a range of support to help cover tuition fees and living costs, your two main expenses while at university or college.

The range of financial support available depends on your circumstances, your course and where you study. The main types of finance are Tuition Fee Loans and Maintenance Loans. The good news is most students won't have to pay anything up front.

Tuition Fee Loans

Most undergraduate courses tuition per year will be up to £9,535. Tuition fees are usually loaned from the Government Student Finance service.

Government tuition fee loan:

A government tuition loan is available for £9,535 per year and paid direct to the university. You can borrow the whole fee or part-fee and repayments do not begin until you earn over £25,000 per year.

Apply online for Student Finance England. To ensure you receive your full entitlement apply at the earliest opportunity.

Repayments

You start repayments once you are earning £25,000+ per year. Repayments start in April, provided you are earning above £25,000. You will replay 9% of income above £25,000:

Salary	Monthly Repayment
£15,000	£0
£18,000	£0
£21,000	£0
£25,000	£30
£35,000	£105
£45,000	£180
£60,000	£292.50

After 30 years, any outstanding loan is written off. The government will charge you interest on a sliding scale; the higher your salary the higher your interest. The maximum rate of interest is 3%.

Maintenance Loans

You have to give details of your household income and your course start date.

The loan is paid directly into your bank account at the start of each term. You must pay the loan back.

Student Loans Company

The maximum amount depends on where you live:

	2024 to 2025	2025 to 2026
Living with Parents	Up to £8,610	Up to £8,877
Living away from Parents, outside London	Up to £10,227	Up to £10,544
Living away from Parents, in London	Up to £13,348	Up to £13,762

A Quick Guide to Living Costs

	Average cost per academic year	Average cost per week (based on 39 week year)
Essentials
Accommodation	£4,888	£125.34
Laundry	£130	£3.34
Travel home (six journeys per year, pre-booked)	£120	£3.08
Course costs (will vary, check with school you are applying to)	£500	£12.82
Essentials estimate	£5,638	£144.58
Other potential costs
Leisure (includes going out)	£1,200	£30.77
Mobile phone	£240	£6.15
TV licence	£145.50	£3.73
Local travel	£200	£5.13
Food	£1,170	£30
Gym / sports	£200	£5.13
Other costs estimate	£3155.50	£80.91
Total costs	£8793.50

Visit Student budget calculators - Save the Student to help plan your budget in more detail. The universities may have their own financial help available to students, so it is always worth checking with their Student Finance department before your course commences. Universities will also have dedicated Careers Departments who can help you source part-time and holiday jobs.

Once you have registered online with SFE - Student Finance England and are ready to start your application, remember to have the following documents to hand:

Passport (if you have one)
University and course details (don’t worry: these can be changed at a later date if necessary!)
Bank details
National insurance number
Your parent’s details, including their National Insurance number and household income information

The online application process is interactive and responsive to the information you submit, so your experience of completing the online forms may be different to that of your friends.