A number of factors come into play when estimating the cost of a student’s higher education.
The overall cost will be dependent upon the student’s chosen course, institution and household income.
Full-time students who will be new entrants to higher education in 2008/09 will be liable for a fee contribution of up to £3,145 (£3,070 in 2007/08). However they will be able to apply for a variable fee loan of up to £3,145 (£3,070 in 2006/07), depending upon the actual fee charged by their institution.
Student Loans for Maintenance have been increased to help students meet their basic living costs.
Interest is charged on student loans from the moment they are paid until they are repaid in full. The interest rate for loans applies from 1 September to 31 August each year. The rate is linked to the rate of inflation in line with the Retail Prices Index: this means that in real terms that the amount repaid will broadly have the same value as the amount borrowed and no profit is made on the loan itself. The interest rate is currently 3.8%.
Entitlement to grants and loans increases each year in line with inflation, and your financial contribution is assessed by your Local Authority.
Where to apply
Apply for student finance if your home is in England
Apply for student finance if your home is outside England
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