What financial support is available (new system)

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You will be on the new system if you started a course in September 2006 or later and you are not on the old system.

Students have two main costs:

tuition fees
living costs.

Tuition fees

From September 2007 universities and colleges in England can charge up to £3070 a year for tuition fees. To find out how much a university or college will charge check on the UCAS website (www.ucas.com).

Student loans for tuition fees

Students will no longer have to pay their tuition fees before they start university or college or while they are studying.

A student can take out a Student loan for tuition fees. The Student Loan Company (SLC) will pay the tuition fees direct to the student’s university or college. The loan will be repaid once a student has left university or college and is earning £15000 or more. The interest charged on the loan is index linked to inflation so the student only repays the value of the initial loan.

Living costs

Maintenance grant

The amount you get will depend on the level of household income.
The maximum Maintenance grant is £2835 per year.
The Maintenance loan will be reduced by £1 for every £1 of Maintenance grant a student gets up to a maximum of £1260.
It will be paid in three instalments at the start of each term directly into the student’s bank account.
It does not have to be repaid.
Post Graduate Certificate in Education (PGCE) students with full time attendance of 10 weeks or more will get a minimum Maintenance grant of £1260 which does not depend on household income. The Maintenance loan will not be reduced.

Maintenance Grant - Continuing students (New System)

Household income	Amount
Less than £18360	£2835
Between £18361 and £39305	Partial grant
Over £39306	No grant

Maintenance Grant - New Entrants in 2008

Household income	Amount
Less than £25000	£2835
Between £25001 and £60005	Partial grant
Over £60006	No grant

Special Support Grant

This is for students who get means-tested benefits such as Income Support and Housing Benefit. For example:

lone parents
student parents if their partner is also a student
students with disabilities
the Special Support Grant is intended help with books, equipment, travel and childcare costs
the maximum Special Support Grant is £2835 per year
the amount of Special Support Grant received will not be affect the amount of Maintenance Loan a student is entitled to
it will not affect the entitlement to Department for Work and Pensions benefits
it will be paid in three instalments at the start of each term directly into the student’s bank account
it does not have to be repaid.
Students aged 60 and over.

Bursaries

English universities and colleges who charge tuition fees of £2835 or more have to provide bursaries to students who get the full £2835 Maintenance Grant or Special Support Grant

The minimum bursary is £310 for students who get the full £2835 Maintenance Grant or Special Support Grant.
Some universities and colleges are providing more than £310.
Contact the university or college to find out how it is paid.
Tt does not have to be repaid.

Student loans for maintenance

To help with living costs, for example, accommodation, food, clothes, travel and so on.

Students are eligible for this if they are under 60 at the start of their course.
The Student loan for maintenance is paid in three instalments at the start of each term directly into the student’s bank account.
The interest charged on the loan is index linked to inflation so the student only repays the value of the initial loan.
75% of the Student loan for maintenance is non income-assessed.
25% of the Student loan for maintenance is income-assessed so it depends on the level of household income as to how much you get.

Student loans for maintenance - full year rates
	75% Not income-assessed	25% income-assessed	Full loan
Student living away from parental home and studying in London	£4855	£1620	£6475
Student living away from parental home and studying outside London	£3470	£1155	£4625
Student living in the parental home	£2685	£895	£3580