HE Financial Help

Most of you will be eligible to take out loans which you'll need to pay back through tax after you have left higher education and are earning above a certain amount (£21,000 from 2012). You might also be entitled to grants and other sums of money that you don't need to pay back.

Some of the help you get is linked to your parents/carers income (household income).

Student Loans

  • Whatever the financial circumstances of your family you may take a loan out to cover the tuition fees at a publically funded institution - this is paid direct to the university on your behalf
  • You can also take out a student loan for your maintenance (living) costs. The amount you can borrow varies; it depends, for instance, whether you are living at home, the household income and whether you are receiving a maintenance grant

 Maintenance grant

  • Depending on household income you may be entitled to receive a maintenance grant. You can receive the full grant (£3,250 per year for 2012 entry) if the household income is less that £25,000 after tax and insurance have been taken off 

 

Examples of other money which may be available

  • Disabled Students Allowances (DSAs) can pay for specialist equipment or a non-medical helper, for instance. DSAs don't take into account household income and don't need to be paid back. If you have a disability useful information is available from Gloucestershire's The Key and National Bureau for Students with Disabilities. NB this site is working although the charity itself has closed
  • Bursaries are paid by universities and vary from place to place. Many students will be eligible - you are more likely to receive money if you are in receipt of a maintenance grant. They don't need to be paid back
  • If you are taking certain health-related courses (such as nursing) or social work, you may be entitled to a NHS bursary or a social work bursary (SWB). Medical/dental students are only supported through the bursary scheme for the latter years of their courses
  • Sponsorships and scholarships are sometimes available through charities, commercial companies and universities. Begin researching early - see the Scholarship Search site

What next?

Go to the Directgov site (Student Finance) for full details of the amounts offered and the help that might be available. You can also contact Student Finance England on 0845 300 5090.