Loans
LoansYou can apply for a student loan to help with fees and living costs
Information for new UK undergraduate students starting a course in September 2011.
There are two types of loan:
- student loan for fees (repayable)
- student loan for maintenance (repayable)
If you live in Scotland, Northern Ireland or Wales the support package is slightly different
Student loan for fees
You can apply for a tuition fee loan for up to £3,375 and it will be paid directly to the University by the Student Loans Company (SLC).
You can apply for the tuition fee loan regardless of what your household income is and you won't have to repay anything until after you have left the University and you are earning over £15,000.
Student loan for maintenance
You can apply for a loan to help with your basic living costs.
Some of the loan is awarded irrespective of your household income, but another part of the loan is dependent on your family income.
The maximum loan you could receive is £4,950 and the lowest amount of loan available is £ 3,564.
What does this help with living costs mean in practice?
Here's what your annual grant and loan entitlement could be if you lived away from home whilst at university, based on household income levels.
|
Household income |
£25,000 |
£40,000 |
£50,020 |
£60,000 |
|
Maintenance grant |
£2,906 |
£711 |
£50 |
Nil |
|
Student loan |
£3,497 |
£4,595 |
£4,925 |
£3,564 |
|
Total each year |
£6,403 |
£5,306 |
£4,975 |
£3,564 |
How do I apply?
The quickest and easiest way to apply for your student loan is by doing it online.
More information can be found about the application process by clicking here.