In the UK, university tuition fees can be up to £9,250 a year. These fees can be covered by a tuition fee loan from the government alongside a maintenance loan to support you with your living costs.
You can apply for student loans through Student Finance England alongside your UCAS application. These loans can include:
- Your tuition fee loan covers the full cost of your cost and is paid directly to your university. You will not have to pay this back until your course is completed and only when you are earning a certain amount of money.
- Your maintenance loan allows you to apply for money which is awarded termly to support living costs. This loan is means tested and is based upon your household income, where you study and where you live. Like the tuition fee loan, this does not have to be paid back till after university.
If eligible, prospective students can also apply for grants. These include financial support for those on benefits, who are disabled or may need help with childcare costs.
Other bursaries, grants and scholarships
Your university may offer other bursaries, grants and scholarships. To find out whether this is the case, please contact your chosen university. These may include:
- Bursaries: Some universities may offer bursaries for those choosing so study select subjects, who have attained academic excellence or require additional financial support.
- Grants and scholarships: Some universities and charities may offer grants and/or scholarships for those who need additional funding or support.
Managing your finances at university
Preparing for and attending university can cost a considerable amount of money. Thus, managing your finances at university is very important. You can boost your finances in the following ways:
- Part-time work: Part-time work allows students to work flexibly while boosting their finances. Your university will have careers information onsite. Be sure to look around your local area also for part-time work.
- Budgeting: Budgeting will come in handy at university. Remember, your maintenance loan comes in three substantial instalments, so space it across the year, plan monthly and not splurge too often!