Please note the below information applies to students who are English, Welsh or from an EU country attending a university in England who started their courses after 1 September 2012. Please see this goverment page if you require alternative information.
How much does university cost?
Universities charge up to £9,250 per year. This covers the cost of the teaching and facilities for your course and all the other services the University provides. This is the maximum amount Universities can charge but there are some that charge less.
The cost of living can vary a lot depending on how you budget your money and where you live. For example, in London, student accommodation costs on average £212 a week. However, in some cities you can find accommodation for around £166 a week or even less. There are also other costs to take into account e.g. Utility bills (heating, electricity, water) if not included in rent, Food, Phone bill etc.
Take a look at the Which? Student Budget Calculator to get an idea of the average living costs at your University.
What financial support can I get?
Tuition Fees: All eligible students will receive the £9,250 tuition fee. This amount will be sent straight from SFE (Student Finance England) to the University and will never enter your bank account.
Living costs: All eligible students can also receive a maintenance loan but the amount depends on your household income. You can calculate how much maintenance loan you are eligible for here.
Other types of funding:
Some students may be eligible to apply for grants which are money that students do not have to pay back. Individual institutions may also have their own bursaries or scholarships that students can apply for. Some grant examples:
Disabled Students’ Allowance (DSA): can help to cover the study-related costs you have because of a mental health problem, long term illness or any other disability. This allowance is in addition to a loan from the Student Loans Company (SLC)
Estranged Students: if you are under 25 and have no contact with your parents and support yourself. Standalone is a good place to look.
Care Leavers: you may be eligible for additional funds through your local authority or through the university or college you’re applying to. We also recommend you visit the Propel website which is specifically for care leavers applying for higher education.
Healthcare students: If you’re planning to study a healthcare subject, such as Medicine, Nursing, Physiotherapy, Social work, or many other subjects, it’s definitely worth having a look at the NHS website to see whether you could receive additional funds.
The Scholarship Hub is a good place to start researching for grants, scholarships and bursaries in the UK.
When will I have to repay my loan?
It’s not as scary as it sounds! Your Tuition Fee Loan and Maintenance Loan will be combined into one amount. Currently, you only start paying your loan back from the April after you’ve finished your course and only if you’re earning over £27,295 a year. How much you repay is dependent on how much you earn. Currently your repayments are 9% of anything you earn over £27,295.
Your loan payments are taken from your salary (along with tax and national insurance) before you get paid, so you don’t have to worry about setting up any regular payments. It’s all done automatically.
Your salary is £28,295
That is £1,000 over £27,295
So you pay back 9% of £1,000 which is £90 a year.
Your salary is £32,295
That is £5,000 over £27,295
So you pay back 9% of £5,000 which is £450 a year, or around £37 a month.
Points to Remember:
- If your salary goes below £27,295 no money will be taken from your salary to pay your loan.
- After 30 years, any remaining loan is wiped.
- Student loans don’t go on your credit file so will not affect things like mortgage applications.
- Interest is applied to a student loan at a maximum rate of RPI* + up to 3%
- Less than 20% of students are forecast to fully pay back their loans before it is wiped.
*Retail Price Index
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