Fees and Funding
The first thing to remember when it comes to finance is you do not have to pay up front to go to university. Financial support is available from the government and from universities to assist with paying your tuition fees and your living costs.
You can take out two types of loans – a Tuition Fee Loan for your course fees and Maintenance Loan for your living costs. Both are available from the government, via Student Finance England, to all UK and EU undergraduate students. Students have the opportunity to borrow up to the full cost of their tuition fees, without making any payments upfront.
While your is at university, a Maintenance Loan is available to cover your living expenses such as food, travel and accommodation. All eligible students are entitled to a loan, however the specific amount is dependent on where you choose to study and your annual household income.
The government pays your tuition fees straight to your university, while maintenance loans are paid into your bank account. Tuition fees are £9,250 a year, while the amount you can borrow for a Maintenance Loan depends on how much your family earns. The good news is you don’t have to pay back either of these loans until you finish uni and are earning over £21,000 a year. The government's student finance website has a lot more information about paying for university.
Grants or scholarships
Many universities offer grants or scholarships you can apply for. These do not need to be paid back but may only be for certain subjects, such as science or sports. Keep an eye out to see if you are suitable for anything offered by your chosen uni.
You can also look for a job while at uni – around 90% of students work while studying. This could be part-time during the term or temporary work in the holidays. If you do find work, remember to split your time fairly between studying and earning money.
Learning to budget
Looking after your finances is an important skill you learn at uni, but never be frightened about asking for help with managing your money. Your family, personal tutor or university can always offer some advice. See our fees and funding guide for more information.