Student Finance England - living cost loans

What the Maintenance Loan gives you

Every year, you take out a loan to cover your living costs whilst studying: rent, food, travel costs and study materials. How much you receive depends on where you live during the semester. If you live outside London, you can borrow up to around £10,830 per year (about 12,600 EUR) for 2026/27. If you live with your parents, the amount is reduced to around £9,118. If you live in London, it increases to around £14,135. A year of study abroad as part of a UK degree programme is funded up to around £12,403. The exact amount also decreases the more your family earns. The money comes from ‘Student Finance England’, a UK government body, and is paid into your bank account at the start of each semester. You must submit a new application for each academic year.

This is a loan, not a grant, so you will have to repay it later. Repayment does not begin until April following the completion of your studies, and only once your income exceeds the threshold for your repayment tier (under the latest scheme, this is approximately £25,000 per year, with you repaying 9% of the amount exceeding this threshold). Interest accrues from the first payment. Any outstanding balance after 40 years under the latest scheme will be written off. The loan does not affect your credit rating.

Who can apply

• Study level: You are starting your first higher education programme, such as a bachelor’s degree, a foundation degree or a similar full-time course.
• Where you study: At a recognised university or higher education institution in England.
• How you study: Full-time. Part-time students may also be eligible to participate if their study load is at least 25% of a full-time load.
• Field of study: Any subject.
• Nationality and residence: For the full Maintenance Loan you are a UK or Irish national, or have settled status, and have lived in Britain for at least the last three years in a row. Other nationalities may still get a Tuition Fee Loan after an individual check.
• Family income: There is no upper limit, but the lower your household income, the more you will receive.
• Age: There is no upper limit, but if you are 60 or older at the start of your first year of study, the amount will be lower (up to around £4,582).

How to apply

Open an account online with ‘Student Finance’ and apply there for both the tuition fee loan and the living costs loan. You should only apply by post if you are eligible solely for the tuition fee portion. It takes around four weeks to process your application, so make sure you apply for the loans well in advance, in good time before your course begins. There is no selection process and no fixed national deadline, but the Student Loans Company announces the application period each year.

How realistic are your chances?

This is not a competitive scholarship. It is a standard government loan available to anyone who meets the eligibility criteria regarding place of residence and course of study. The only difference lies in the amount you receive, which depends on where you live and your family’s income. Provided you submit your application on time and provide proof of your household income, funding is virtually guaranteed.