How much will Higher Education cost?

The two types of cost you'll face in Higher Education are:

  • tuition fees
  • your accommodation and day-to-day living expenses

There are four main sources of financial support for full-time students (figures apply to students starting courses in 2008):

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1. Tuition fees loan

You can take a loan to cover the full cost of your tuition fees, which you won’t pay back before or during your course. Instead, you will be eligible to apply for a loan from the Student Loans Company, which will be paid to the College directly on your behalf, which you’ll pay back after you leave College and are earning over £15,000. Tuition fees for 2008/9 are currently set at £3,145.

For details on how to repay the loan please visit the Aimhigher website.

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2. Maintenance loan

This is to help towards the cost of living, and is paid directly to you. All students can take out a loan, but the amount you can borrow depends on your household income, where you live during your studies, and how much maintenance grant you receive. All students can get around 75% of the Student Loan for Maintenance regardless of their household income. How much of the remainder is received will depend on household income.

The maximum Student Loan for Maintenance in 2008/2009 is as follows:

  • Students living away from their parent’s home and studying outside London can receive up to £4,625
  • Students living at their parent’s home (London and elsewhere) can receive up to £3,580

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3. Maintenance grant

The maintenance grant is a means-tested non-repayable grant, which can help towards the costs of studying and living. The amount you receive is dependent on your household income, but the table below gives a rough guide to how much you could get:

  • If your household income is £25,000 or less you will be eligible to receive the full £2,835 grant
  • If your household income is between £25,001 and £60,005, you will be eligible to receive a partial grant
  • If your household income is over £60,005, you will not be eligible for any grant

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4. Bursaries from Universities and Colleges

Anyone receiving the full maintenance grant is entitled to a minimum of £305 in bursaries. In addition, there are sometimes other bursaries available directly from the institution – check individual university websites for details.

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5. Other sources of financial assistance

Depending on individual circumstances, students may be eligible to access one or more of the following:-

  • Disabled Students’ Allowance
  • Parents’ Learning Allowance
  • Adult Dependants’ Grant
  • Childcare Grant
    • Access to Learning Funds

For further information on these and on whose income is assessed, please contact the Student Finance Advisers at the College.

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