Funding your studies
Loans, bursaries and managing your money at uni
One of the biggest things you’ll need to sort before you start a Bachelor’s degree or other undergraduate course is how to fund your studies.
Your loan will help pay your tuition fees and living costs. But there are lots of factors to consider when applying for student finance and it will be up to you to find out how this will affect your eligibility.
Understanding student finance
Your student loans guide
What is student finance?
Student Finance is money you can borrow when you come to uni, to help you pay for your degree and your living costs. It’s split up into 4 different pots: maintenance loan, tuition fee loan, bursaries and scholarships. Not everyone is eligible for all 4, but most people can apply for the tuition fee and maintenance loan.
Tuition Fee Loan
As long as you are coming to uni for the first time, you can apply for the tuition fee loan. Tuition fee loans cover up to £9250 each year and are paid directly to your uni to cover the cost of your course. The loan covers every year of your course, plus you get one ‘gift’ year, in case you change courses after your first year, or need to resit a year of your course.
Maintenance Loan
The maintenance loan is offered to support you with your day to day living costs. Like your rent, food, and social activities. The amount you receive is dependent on your household income, and is paid into your bank account at the start of each term. It’s up to you to manage your money so it lasts throughout the term.
Scholarships
You may be able to apply for a scholarship if you are gifted in a certain subject or play sport at a high level. It’s worth looking at your chosen unis website to find out what you may be eligible for. Scholarships do not have to be repaid, but can be quite competitive. It’s worth looking early so you know when you need to apply, as some are on a first come first serve basis.
Bursaries
You may be eligible to receive a bursary to help fund your studies or your living costs. This is money that you won’t have to pay back, which you can be given for a variety of reasons. For example, if you are studying a professional healthcare course, such as Nursing, or come from a low income household, you are likely to receive a bursary. But that’s not it – Some unis offer scholarships for students who are seeking asylum, care leavers or estranged students as well.
Eligibility for student finance
Not everyone can have student finance. Qualifying factors for things like student loans, bursaries and scholarships depend on your age, where you live, your household income and your personal circumstances. Find out more about eligibility.
Applying for Student Finance
If you're from England, you apply for student finance on the Student Finance England website. You should apply for finance by the spring before your course starts. It doesn’t matter if you aren’t sure which university you are going to yet, as you can change these details once you’ve decided. And remember, you’ll need to re-apply for student finance for every year of your course, not just before your first year at uni.
If you’re from Wales, Scotland or Northern Ireland, Guernsey, Jersey or the Isle of Man apply through your government’s student finance service.
When to apply for your loans
You can apply for student loans and other student finance in the spring before the start of your course. Don't wait until you get an offer or receive your exam results – apply as soon as you can.
Remember – you'll need to re-apply before the start of each academic year, not just before your first year at uni.
Managing your money at uni
Check out our help pages to make your student loan go further.
