Student Loans
Loans are available to students to help with living costs, e.g. accommodation, food, clothes, travel etc. Interest is charged at the rate of inflation, so the amount the student eventually repays will be equal in value to the amount borrowed. The interest rate is currently 4.8%.
An overview of the application and payment process.
Loan Rates
| Full Year |
Maximum available |
| Students living away from parents' home and studying in: |
| London |
£6475 |
| Elsewhere |
£4625 |
| Overseas |
£5510 |
| Students living at their parents' home: |
| London or elsewhere |
£3580 |
| Final Year |
Maximum available |
| Students living away from parents' home and studying in: |
| London |
£5895 |
| Elsewhere |
£4280 |
| Overseas |
£4790 |
| Students living at their parents' home: |
| London or elsewhere |
£3235 |
Help with tuition fees
Variable Tuition Fees and Tuition Fee Loans
From September 2006, universities and colleges offering HE courses in England will be allowed to vary the amount of fees they charge new students. Institutions will be able to charge between zero and £3,145 per year.
Students will not be required to pay fees before they start their course or while they are studying, although they can do so if they wish. They can apply for an additional loan to cover the cost of these fees. This gives the advantage of not having to find this money from elsewhere, and we will pay the fees directly to the institution. The fee loan is then repaid in the same way as the other student loan – only once the student has completed their studies and is earning over the repayment threshold of £15,000 per year.
Additional support
There are further grants available in certain circumstances for full-time students- see the overview. You can obtain further information from your Local Authority or by going to "Forms & Guides".
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