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Student Finance – HELP!

If you’ve applied for University this year, you may be starting to feel as though there’s a lot you need to do over the next few months to prepare. Applying for student finance is definitely one of the most important things to add to your to-do list. So, to make things that little bit easier here’s everything you need to know to get you sped through the process!

What is Student Finance?

Student Finance is government funding that you can apply for to help towards university tuition fees, or living costs. You have to pay the loans back, but not until you’re earning at least £21,ooo a year. At this point, your income will determine how much you pay back monthly.

Can I apply?

If you normally live in the UK and you’re a first-time student in higher education at an approved institution, yes. However, you can find out all the specifics here.

How does it work?

As a student, you can apply for a Tuition Fee Loan that will cover the costs of your University course fees (which are a lot these days, usually around £9,000!). This is paid directly to the University. You can also apply for a Maintenance Loan, which can help with living costs (like buying food, towards rent, and maybe even on an occasional vodka shot or two…) This one will go straight into your bank account, so you can do whatever you please with it – just don’t spend it too quick!

How much money will I receive?

This depends on a number of different factors, such as household income or whether you’re receiving money via other means, etc. Here are all the details you need.

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Where do I apply?

Here (for Student Finance England – all other links are below). Just follow the instructions.

What do I need?

An email address that you’ll actually check!

A bank account in your own name.

Details about your course, and your previous places of study.

A UK Passport.

Information about your income/any support you’ll be receiving.

How long do I have?

As a student, you’re bound to leave things until the last minute. We all do it. However, this is one of the things that you should just get out the way as soon as possible – don’t miss the deadline, or you might not receive your loan in time for your start date.

Good luck!

If you need any more advice about which Uni to choose, or how to make friends at Uni…

Don’t forget to follow, with a new post every day at 6pm during the week, and 1pm on a weekend!

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