Student Finance England - Student Maintenance loans

Student Maintenance Loan (Student Finance England)

You will receive a government loan of up to about 13,348 GBP per year (about 11,800 EUR) to cover your living costs whilst you are studying: rent, food, books, travel costs and other day-to-day expenses. The money will be paid directly into your bank account, usually at the start of each term. The exact amount depends on where you live whilst studying, as well as your household income. If you live with your parents, a lower maximum amount of around 8,160 GBP per year applies. If you live outside London but not with your parents, you fall into the middle band, with around 10,227 GBP. If you live in London but not with your parents, the highest band applies. Everyone receives at least half the maximum amount, regardless of income. The rest depends on your household income and decreases as your income rises. This is a loan, not a grant. You repay it after you finish your studies, but only once you are earning more than 25,000 GBP per year. You will then repay 9% of your income that exceeds this amount. Any remaining balance after 40 years will be written off, and the loan will not appear on your credit record. Student Finance England administers the scheme on behalf of the UK Government.

Who can apply

• Where you study: You are undertaking an eligible higher education course, such as a Bachelor’s degree, at a recognised British university or higher education institution.
• Residence and nationality: You normally live in England and are a British national or have an equivalent residence status.
• Field of study: Any subject.
• Previous qualifications: You do not yet hold an equivalent qualification. Exceptions apply to certain vocational degree programmes such as medicine, dentistry, veterinary medicine and architecture.
• Income: Everyone is entitled to at least half of the maximum amount. The rest depends on your household income, and you will receive the full amount if your household earns 25,000 GBP or less.
• Health students: If you are studying nursing, midwifery or a related healthcare profession, you can claim this loan in addition to the NHS Learning Support Fund. This fund provides a training grant of around 5,000 GBP per year, which you will never have to repay.

How to apply

You apply for funding online via ‘Student Finance England’ on gov.uk and must submit a new application for each academic year. Apply for funding well in advance, ideally by the end of June before your course starts, as it takes around four weeks to process. The final deadline is nine months after the start of your course.

How realistic are your chances?

This is not a means-tested grant, but an entitlement. If you meet the eligibility criteria regarding residence, course of study and nationality, you will receive the funding – the only variable is the amount. Almost every eligible student in England receives at least the minimum loan, and low-income households receive the full amount. Apply for the funding well in advance to ensure the money reaches you in time for the start of your term.