Student bank accounts Student loans and grants
Student loans and tuition fees
The current tuition fees loan for students in England is £3,375 a year
Full-time students starting a higher education course this year can apply for loans to help with tuition fees and living costs.
In England and Northern Ireland, a loan for tuition fees (£3,375 a year for 2011-12) is paid by the Student Loans Company directly to your university. Welsh Students at Welsh universities pay lower tuition fees. Scottish students at Scottish universities don't pay tuition fees.
You will also get a second loan, for maintenance, which is paid into your account at the start of each term. The exact amount you can borrow depends on where you live, your household income, when you start your course and what year of study you're in. Depending on your circumstances, this can be worth up to £6,928 a year.
To find out the maximum student loan for your circumstances, visit the Directgov guide to student finance.
Repaying student loans
You start to repay both loans when you get a job paying at least £15,000. Interest is currently 1.5%. For students starting a new course in September 2012, a new system will apply, with a higher income threshold for repayments and a higher rate of interest.
Student maintenance grants
Maintenance grants are means-tested awards that help to pay for some of your living expenses while you are studying. You can get a grant up to a maximum value of £2,906 and this doesn't need to be repaid. Some colleges also give non-repayable grants.
The Directgov website provides full details of maintenance grants, how they're calculated and how you apply.
- For everything you need to know about going to university, check out our expert guide
- Preparing to leave home? Take a look at our guide on getting discounts on products
- Or read our guide on how to find the best laptop
