What financial support is available?
There’s lots of financial support on offer when you go into uni or college.
Student Loans
Student Loans, like Maintenance Grants and bursaries, are there to help with the costs of higher education.
There are two types available - you can take out either or both.
- The Student Loan for Tuition Fees lets you cover your tuition fees in full (up to £3,145 in 2008/2009)
- The Student Loan for Maintenance helps with your accommodation and other living costs: depending on your household income and where you’re living, you can apply for up to £4,625 in 2008/2009 (more if you're living away from home and living in london)
Student Loans are subsidised by the government and are issued on their behalf by the Student Loans Company
The interest you’re charged is linked to inflation, so what you repay is broadly the same as what you borrowed - no one makes a profit on the loan.
You only begin repaying your Student Loans after you’ve left your course and are earning more than £15,000 a year.
