Higher Education funding – England, Wales & Northern Ireland

Most students completing a 3-year degree course can expect to have accumulated an average debt of £44,000 by the time they graduate. (Institute of Fiscal Studies, April 2014)

The guide below gives information on the financial assistance that may be available dependant on circumstances.

Tuition fees vary depending on the type of course being undertaken and the following guide provides information on the main sources of assistance that is available for students undertaking an undergraduate course for the first time, from 2008 onwards.

Full-Time study – students from England & Northern Ireland

Student loan for tuition fees

To meet full course costs. This loan is paid directly to the college or university on your behalf. It is a government loan that will need to be repaid.

Maintenance Grant or Special Support Grant

To help with the cost of living expenses and other course related costs. The amount of grant which can be received is dependent on the household income and the student’s individual circumstances. These grants do not have to be repaid.

Student Loan for Living Costs

Also known as Student Loan for Maintenance. This loan is to help pay for living expenses. The amount which can be received is dependent upon where the student is living and studying as well as the income of your household. This loan is a government loan that will need to be repaid.

Bursaries

From Universities, Colleges and Higher Education Institutions. The amount of financial support received in the form of a bursary is dependent upon the household income. The bursary is not repayable. Details of bursaries available can be found on university websites or in their prospectuses. The online Bursary map for England can be accessed by clicking on the link below.

Money for living costs will be paid direct into the student’s bank account in three instalments, at the start of each term.

In England, Student Finance England will be able to provide advice and guidance on the financial help available and the application process.

In Northern Ireland, the relevant Education and Library Board and Student Finance Northern Ireland will be able to provide advice and guidance on the financial help available and the application process.

Contact details for Student Finance are listed in the further resources section below. Application forms can be completed online as well as the traditional paper format.

Full-time study – students from Wales

Student loan for tuition fees

To meet course costs. This is a Welsh Assembly Government loan that is paid directly to the college or university on your behalf and will need to be repaid.

Tuition Fee Grant

This grant is only available if you normally live in Wales and study at a college or university in Wales. Household income is not taken into account and payment is made direct to the college or university on your behalf. This grant does not have to be repaid.

Maintenance Loan for Living Costs

This loan is to help pay for living expenses. The amount which can be received is dependent upon where the student is living and studying as well as the income of your household. This loan is a Welsh Assembly Government loan that will need to be repaid.

Assembly Learning Grant or Special Support Grant

To help with the cost of living expenses. The amount of grant which can be received is dependent on the household income and the student’s individual circumstances. These grants do not have to be repaid.

Bursaries

From universities and colleges. Financial support received in the form of a bursary is not repayable. Details of bursaries available can be found on university websites or in their prospectuses.

Money for living costs will be paid direct into the student’s bank account in three instalments, at the start of each term.

Your Local Authority and Student Finance Wales will be able to provide advice and guidance on the financial help available and the application process.

Application forms for financial help can be completed online as well as the traditional paper format. Use the links below to access further information.

Part-time study

There is financial help available for students wishing to study part-time at a university, college or via distance learning. Part-time course fees are not regulated so colleges and universities can set their own fees which can vary considerably. However, the course needs to be at least 50% of the equivalent full-time course. There are two types of grants:

Fee Grant to help cover the cost of tuition fees. The amount available is dependent on the household income together with the study band that the chosen course falls into. Fee Grant money will be paid directly to the college or university.
Course Grant to assist with the costs of books, travel and course expenses. The amount which can be received is dependent on your household income. Course Grant money will be paid direct into the student’s bank account in one lump sum.

These grants do not have to be repaid.

Mature students

Mature students have the same entitlement to support as those that enter higher education direct from school, whether it’s part-time or full-time study. However, the student needs to be under the age of 60 at the start of the course to be eligible to apply for a student loan for living costs. Additional funding may be available for mature students and it is advisable to explore the appropriate resource.

Additional funding assistance

Students with disabilities

Students with a disability may be entitled to extra support in the form of a Disabled Students Allowances. Allowances can be claimed for specialist equipment, non-medical helpers and extra travel costs in addition to a general student allowance. This help does not have to be repaid.

Students with dependants

Students with children may be able to receive a Parents Learning Allowance to help with course related costs.

A Childcare Grant may be available but is dependent on whether or not the student or spouse receives the childcare element of working tax credit.

Students who have an adult dependant, other than their adult child, may qualify for extra help in the form of an Adult Dependants Grant.

The amount available is dependent on the household income and does not have to be repaid.

Access to learning fund (England) or support funds (N. Ireland)

This fund is accessed through the student’s college or university and is available to students who need extra financial support in order to remain in higher education. Payment can be in the form of a grant that does not have to be repaid or it can be given as a short-term loan.

Financial contingency funds (Wales)

This fund is accessed through the student’s college or university and is available to students who need extra financial support in order to remain in higher education. Assistance is available to both part-time and full-time students. Payment is in the form of a non-repayable grant for full-time students but can be paid either in the form of a non-repayable grant or a short-term loan for part-time students.

Sponsorships

Some companies offer sponsorships. This would normally cover tuition fees and, occasionally, living costs. Application needs to be made direct to the employer.

Charitable funding

Some charities (for example, educational trusts) have funds available for particular groups of students who are unable to undertake or continue a course due to lack of financial resources. Such funding cannot be relied on as there are often many applicants for a limited amount of money.

The Educational Grants Advisory Service (EGAS) can provide advice and guidance in obtaining charitable funding.

Welfare benefits

Under certain circumstances some students may be entitled to claim income related benefits such as Housing Benefit and Child Tax Credit.

Studying abroad

Students who wish to study abroad as part of their course may be able to get help through the Erasmus exchange programme if the country is part of the scheme. The student needs to contact the European Office at their university or the British Council who administer the scheme for details.

British Council Tel No: 0161 957 7755 Their website can be accessed by clicking on the relevant link in the Further Resources section below.

Career development loan (England and Wales)

If the student is not eligible for other funding they may qualify for a career development loan. This is a loan from a bank specifically for the purpose of helping to pay for certain work-related learning. Applicants must be at least 18 to be eligible. Repayments start after at least a month after the training stops. They are made available through the Learning and Skills Council and three high street banks. They can cover a large proportion of the course fees, course costs and living expenses. The maximum amount that can be borrowed is £10,000

The CDL Information Line – 0800 100 900

Repaying a student loan

Students do not need to start making repayments of student loans for fees and student loan for maintenance until the April after they complete or leave their course and they are earning £17,335 a year or more and started before 1st September 2012 . For students that started after September 2012 they don’t have to start repaying until they are earning over 21,000.This method of recovering the loan back is known as Income-Contingent Repayment, or ICR, meaning that repayments will be variable according to salary. The interest rate charged is linked to inflation so that the amount to be repaid is the same in real terms as the money that was originally borrowed.

If the borrower is employed, the payments will be taken straight from their salary through the tax system, once they are earning above the threshold of either £17,335 or £21,000. This method of repayment is called PAYE, or Pay-As-You-Earn.

If the borrower is self-employed, it is their responsibility to calculate and sort out the repayments that must be made.

If the borrower works abroad, they will need to arrange with the Student Loans Company how they are going to repay the loan.

It is possible to manage the repayment of the student loan, so that it can be paid earlier. In England, there is also a facility to apply to take a repayment holiday on your loan of up to five years. Bear in mind that although a hold is put on payments, interest on the outstanding loan will continue to accrue. The Student Loan Company can assist with information on these issues.