All eligible students can get help with tuition fees and living costs through Student Loans.
You’ll be able to take out two Student Loans per academic year:
- Student Loan for Tuition Fees - to cover the cost of your tuition fees in full
- Student Loan for Maintenance - to help with accommodation and other living costs (how much you get depends on your household income)
Repaying Student Loans
Student Loans have to be paid back - but you don’t have to start making repayments until you’ve left your course and are earning over £15,000. Once your earnings reach this repayment threshold, you’ll pay back nine per cent of whatever you earn over £15,000. If you’re due to start paying back your Student Loans from April 2012, you’ll have the option of taking a repayment break of one or two years.
Grants to help with living costs: Maintenance Grant and Special Support Grant
Around a third of new students are expected to qualify for the full Maintenance Grant or Special Support Grant, and around a further third for a partial grant.
Bursaries
Bursaries are extra sources of help from your university or college. Institutions in England will offer at least a minimum bursary payment if you’re getting the full Maintenance Grant or Special Support Grant.
Grants and bursaries don’t have to be repaid.