We realise that working out how you’ll pay for your courses will play a big part in whether you go to university. So we want you to know all the facts before making your decision.
Most of our undergraduate courses starting in 2014/15 are £9,000 (for UK/EU students). Many students apply for a full tuition fee loan to cover this cost which means they are not expected to pay anything up front. You will only be expected to repay this to the Student Loans Company once you’re earning over £21,000 and even then you only pay a contribution based on the amount you earn over £21,000.
To find out more about Tuition Fee Loans and other types of funding which may be available to you, you should go to the ‘Student Finance’ section of the Gov.uk website where you will find useful information about all aspects of student funding.
If you wish to apply for your loan, you should apply online well before you start your course. For people entering in September, you should be applying for your Tuition Fee Loan (and any other types of financial support) before the end of May.
Remember – you don’t need to wait to receive an offer of a place to apply!
Help with living costs
Depending on your parents' income you could receive a maintenance loan to help with living costs. You may also be eligible for a maintenance grant – which you don’t have to pay back. You make your application for a maintenance loan and grant at the same time as your tuition fee loan.
If you have dependants or a disability you can also apply for additional financial support. Further details can be found on Student Finance England, where you you can access the Student Funding Calculator, allowing you to calculate the types of financial help you might be entitled to.
I've applied for my loan – what next?
Once your application has been processed it couldn't be easier – the Student Loan Company will pay your tuition fees for you, while any maintenance loans or grants will be paid directly into your bank account.
When do I pay my loan back?
You don’t have to pay anything back until you’ve finished your course and earning more than £21,000. It doesn’t matter how much loan you have taken out, your repayments are always 9% of your salary over £21,000.
For example, if you are earning £25,000, you would only pay back £30 each month! Providing you keep up with your repayments, your loan has no effect on your credit rating, so it will not cause any problems if you are applying for a mortgage, bank loan or credit card. Also, after 30 years any unpaid amount will be written off.
Are there any additional costs on my course?
Depending on your course there may be some costs you’ll need to pay. This may be specialist equipment or field trips. To find out if there are any extra costs for your chosen course take a look at the online entry on our Course Finder under the Fees and Funding Tab.
Access to Learning Fund
We provide help to UK students in financial hardship through the Access to Learning Fund which we distribute on behalf of the government. This also includes advice on short-term emergency loans.
If you have any questions on funding, benefits, budgeting and debt just get in touch with our Student Money Advice Team on 0113 812 5593 who’ll be more than happy to answer any questions. You can also look at further information on our student finance advice page.