Student Finance
Student finance fund the full tuition fee for your chosen university additionally they provide the student with maintenance loans/grants for each year that they study.
Tuition fees £9,250 paid directly to the university per year
Maintenance loans/grants Up to 16,000 per year paid directly to you.
The above figure is made up of additional grants which is available to the student which are listed below;
Childcare Grant – full-time students only
Parents’ Learning Allowance – full-time students only
Adult Dependants’ Grant – full-time students only
Repayment of Loans
Majority of the money given to you and the university is given to you as a loan. This is nothing like your conventional loan here is some of the reasons why.
- Only Start paying back once you left your course hopefully after you attained your degree.
- You only ever pay back 9% of anything you earn over 27,295
- If you earn less than 27,295 there are no repayments to be made
- The total debt is struck off after 30 years regardless of what has been paid on it
- Does not appear on your credit search
- Does not affect your credit rating