What do you need to know about student finance?

What do you need to know about student finance?


Whether you consider to apply for full undergraduate or top-up course you are probably aware about financial commitments involved.  This article is a quick reminder of available student finance for the UK and the EU students.

Student Finance: Student Loans

You are entitled to receive up to £9,000 per year student loan. Money will be paid directly to a university of your choice. You will have to repay student loan after the end of your course.

Student Finance: Maintenance Loan

In addition you will be able to apply for the maintenance loan, which will be directly paid to your bank account. The maximum amount of money that you can get in 2016/2017, will depend on your individual circumstances. See the table below:

Living at home Up to £6,904
Living away from home, outside London Up to £8,200
Living away from home in London Up to £10,702
You spend your year abroad Up to £9,391

 

Note: Maintenance loan is only available for UK students. You will have to repay the loan after your graduation, depending on your income.

Student Finance: Maintenance Grand for living costs

Depending on your individual income, you may be eligible for separate maintenance grant. The grant will be paid into your bank account at the start of each term. You will not have to pay it back.  See the table below for details.

Household income    Grant for the 2015 to 2016 academic year
£25,000 or less £3,387
£30,000 £2,441
£35,000 £1,494
£40,000 £547
£42,620 £50
Over £42,620 No grant

 

 

 

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