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student finance 2012

Student Finance Tips


Money you can get to pay for university – from 1 September 2012 If you’re starting a higher education course at university or college on or after 1 September 2012, the student finance package is changing. Find out what financial

help you can get to cover your tuition fees and living costs while you study.

What is changing from September 2012?

Students who start university or college on or after 1 September 2012 (academic year
2012/13) will be on a new student finance scheme.
The main changes are:
  • universities and colleges can charge tuition fees of up to £9,000
  • Tuition Fee Loans will go up to cover the higher fees
  • part-time students can apply for a Tuition Fee Loan (replacing grants) for the
  • first time
  • you don’t start repaying your loan until you earn £21,000 (up from £15,000)

Student finance: what money you can get

New and continuing full-time students need to apply now to prevent any delay to
their funding.
To cover the costs of studying you can apply for:
  • a Tuition Fee Loan to cover your tuition fees in full
  • a Maintenance Loan for living costs like rent (full-time students only)
  • a Maintenance Grant if your household income is less than £42,600 (full-time students only)
  • scholarships and bursaries from colleges and universities
  • extra financial help if you have a disability or children or adults depending on you
Full-time students have to pay back any loans plus interest once you leave your course and start earning more than £21,000 a year. Part-time students who earn over £21,000 a year have to start paying back their loans after four years even if their course hasn't finished.
You don't have to pay back grants, scholarships or bursaries.

Loans and grants for living costs

Only full-time students can get Maintenance Loans and Maintenance Grants for their living costs.
Maintenance Loans
The maximum Maintenance Loan for new students starting from 1 September 2012 is:
• £5,500 if you live away from home and study at a university or college outside London
• £7,675 if you live away from home and study at a university or college in London
• £4,375 if you live at home
Maintenance Grants
You can also apply for a Maintenance Grant if your family income is below £42,600.
You can get:
  • £3,250 if your household income is £25,000 or under
  • £50-£3250 if your household income is between £25,000 and £42,600
These loans and grants are paid into your bank account at the start of each term, once you've registered on your course.

Scholarships, bursaries and awards

You may be able to get a bursary, scholarship or award directly from your university or college. The National Scholarship Programme helps students with a family income of £25,000 or less. Bursaries and scholarships do not have to be paid back.
Full article and further details can be found at:
Contains public sector information licensed under the Open Government Licence v1.0.
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