There are two types of student loan:
- a tuition fee loan, purely to cover the cost of the tuition fees, and
- a maintenance loan, which is intended for everyday living costs.
Student finance loans are available to all home and EU students studying full-time or part-time for their first degree (they are not available for students studying at further education level).
You will need to repay both loans after you complete your studies and are earning more than £21,000 (increasing to £25,000 for courses starting after April 2018). Please visit the Student Loans Company for details of the repayment terms and conditions.
Students from the Isle of Man or the Channel Islands should check with their local government for details of available support.
How much can you get?
The amount you can borrow under the student maintenance loan scheme depends on your household's income – in other words, your circumstances and the amount earned by you, your spouse or your parents.
If your household has a low income, you may also be eligible for a means-tested loan.
It is important you apply for funding as early as possible to make sure you have finance in place for the start of the term.