University of Bolton - Maintenance Loan (Means tested)

Maintenance Loan (means tested)

You will receive a state-funded loan to cover your living costs whilst studying full-time: rent, food, books, travel costs and day-to-day expenses. The exact amount depends on where you live and your family’s income. If you do not live with your parents, you may be eligible for a higher loan amount than if you do live with them. The money is paid directly into your bank account, usually in three instalments spread throughout the year. The UK government provides these funds through ‘Student Finance England’, not through the university.

Important: This is a loan, not a grant. You will start repaying it once you have completed your studies and are earning more than 25,000 GBP per year. Your monthly repayment depends on your income, not on how much you have borrowed. The loan will not appear on your credit report.

Who can apply

• Level of study: You are currently completing your first bachelor’s degree, e.g. a BA, BSc, BEng, PGCE or Cert Ed.
• Enrolment: You study full time.
• Field of study: Any topic is allowed.
• Where you study: You are studying in England, for example at the University of Bolton (now the University of Greater Manchester).
• Nationality: British nationals are eligible for funding. Some non-British students may also be eligible for funding in accordance with Student Finance England’s residence rules.
• Household income: The amount you can borrow depends on your family’s income – or your partner’s income, if you are classified as an independent student. The lower your income, the higher the loan amount. You can also apply for a smaller amount without providing details of your income.
• Age: As a rule, you will fall under 60. Special arrangements apply to older pupils on very low incomes.

How to apply

Applications must be made online at gov.uk/student-finance. You must submit a new application for each academic year. It takes Student Finance England around four weeks to process an application; you should therefore submit your application well in advance of the start of your studies.

How realistic are your chances?

This is not an award granted as part of a competition. It is a standard government loan, so almost any eligible full-time undergraduate student who applies will receive it. There is no selection panel; instead, your eligibility criteria and income are simply assessed. If you meet the residence and study requirements and submit your application by the deadline, you can assume that you will receive the loan. However, please bear in mind that it must be repaid.