Finance for Higher Education

If you’re going into higher education, there’s money available to help with the costs. You won’t have to pay anything back until you’ve left your course and you’re earning - and you may qualify for support that doesn’t need to be paid back at all.

What Are The Costs ?

Tuition Fees: For 2009 entry, universities and colleges in England will charge new students up to £3,225 a year for their courses. The maximum fee charged will not rise by more than the rate of inflation before 2010 at the earliest. Amounts charged may vary between courses, as well as between different universities and colleges.  The good news is that this money does not have to be paid whist you are studying.

Living costs:  The amount you need to live on as a student will depend on where you choose to study,  your individual circumstances, your lifestyle etc. Most of your money is likely to be spent on accommodation, food, travel, clothes, study materials and, of course, social and leisure activities.

What Help Can You Get ?

 The main sources of help for full-time students are:

• Student Loans and grants from the Government
• bursaries from universities and colleges

The table below shows the main help available in Government grants and loans.  

The size of Maintenance Grants and Maintenance Loans varies for students living in their family homes, in London, or elsewhere.

Government loans do not have to be repaid until you start earning £15,000 per year.

Government maintenance grants do not have to be repaid at all.

Additional Government Support

You may be eligible for additional support if:

• You are taking a social work course ( Social Work Bursaries )
• You have a disability, mental health condition or specific learning difficulty ( Disabled Students’ Allowances )
• You have one or more dependent children ( Childcare Grant, Parents Learning Allowances )
• An adult family member is financially dependent on you ( Adult Dependents’ Grant )

Bursaries from Universities and Colleges

Mandatory bursaries are provided by English universities and colleges if they charge UK students the maximum tuition fee per year for a course. The minimum bursary for a student in receipt of full Maintenance Grant and paying full tuition fees must be at least £319 per year, but many universities are offering much more, and not just to these students. These bursaries do not have to be paid back.  The course search facility on the UCAS website will help you identify bursaries for specific courses, see the UCAS website below.

Scholarships and Sponsorships

Scholarships are grants given to students by institutions or another sponsoring body, such as a workplace. They differ from bursaries in the sense that bursaries are dependent on financial circumstance, whereas scholarships tend to be awarded on academic achievement.

Some employers are able to offer sponsorship throughout a student's degree programme. Sponsorship is often concentrated on scientific or technological subject areas, but some employers will sponsor undergraduates of any discipline. These arrangements will vary from one employer to another but generally involve financial support and paid work experience during holidays. Further information on opportunities available can be found in 'Sponsorship and Funding Directory' available at your local Connexions Centre.

Access to Learning Fund:

This is available through universities and colleges and provides help for students in hardship who may need extra financial support for their course and to stay in higher education. Your institution will decide whether you are able to receive this help and, if so, how much you are entitled to. Payments are usually given as grants but may be given as short term loans.

How to apply for Student Finance:

Coming soon...

Student Finance England ( SFE ) is the new brand name for the student finance service( note – only students living in England ).

If you are applying for a place at university to start in September 2009 or later, you will soon be able to apply for student finance, and manage your account online through SFE.  You should apply as soon as possible after making your UCAS application – don’t wait to receive offers of places at universities. 

You will also be able to speak with a Student Finance England advisor on the national helpline – call 0845 300 5090