Fees, Loans and Bursaries...
Homepage » For Students » Fees, Loans and Bursaries Fees, loans and bursaries – an overview.Below is a brief summary of the current situation as it applies in England, Wales and Northern Ireland. This is a fairly complex subject and for more details you may wish to consult the Government’s own website: LoansThere are two types of government loan for full time students:
If you choose to live at home whilst studying at University, (London or elsewhere) the maximum maintenance loan is £3,580. Grants and bursaries Those with disabilities may be entitled to a maintenance grant irrespective of household income. Interest is levied on loans based on the rate of inflation so in real terms the loan is roughly the same the day you take it out as the time you start to re-pay it. In addition to loans, those who qualify for a full maintenance grant may also qualify for a bursary from their University. Bursaries may vary from around £300 to £3,000 but are typically about £1,000. To find whether you may be entitled to a bursary and how to apply you will need to consult your university. ScholarshipsThere are numerous other grants and scholarships for those with particular skills or talents, whether this be in academia or sport. There are also grants available designed to promote the widening of participation in the field of higher education. To find out more about grants and how to apply visit Scholarship Search Scholarship Search or the Educational Grants Advisory Service Paying Back of LoansYou don’t have to worry about repaying student loans until you are earning at least £15,000 per year. Repayments are taken at source and increase as your income increases. The higher your salary the higher will be the clawback. To give you some idea of repayment rates you will be expected to pay £5.19 pence per week if your earnings are £18,000 per year.
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It is expected that two thirds of full time students will qualify to receive some non-repayable grant to cover these costs whilst one third of full time students are expected to qualify for the maximum grant of £2,800 a year.
