Full time higher education courses cost between £6000 and £9250 per year with most universities charging the higher amount. If you are choosing to do a four year degree with time abroad or doing work experience, the fees are usually at a reduced rate during that year and vary from course to course.
You can apply for a loan each year to cover the total cost of tuition fees. You can also apply for a maintenance loan to help pay for living costs and the amount you can apply for may depend on household income, where you are studying and if you are living at home. If you apply for both loans they are combined together and you only start paying it back when you are earning £21,000 or over from April after you graduate. You pay 9% on anything over £25,000 and if you haven’t paid it back after 30 years the loan is written off.
Grants, Bursaries and Scholarships
Depending on your circumstances, you may be eligible for additional financial support which you don’t have to pay back.
Making an Application
The application cycle usually opens from the end of February for courses starting in September the same year. To ensure your loan application is processed in time for the start of your course, you need to have submitted your application, usually by the end of May. Applications are made online on the Government website and there is dedicated help and advice about student finance on the Student Room. You can also use the Student Finance Calculator to see what amounts you should be eligible for depending on your circumstances.