Watch our short video guide for all you need to know about the fees and funding support for Higher Education.
Preparing for University
When you are going to university for first time it is important to plan for the cost of your tuition and living expenses whilst studying.
When you enter Higher Education for the first time, you are entitled to a non – means tested Tuition Fee Loan, which is payable directly to the institution where you will be studying and will cover the full cost of your course fees up to the value of £9000. It is important to understand that university tuition costs are a study now, pay later scheme.
The additional costs associated with university are often dependent on your personal choices and preferences. They can include rent, utilities, food, course materials and socialising and are largely funded via the means tested Maintenance Loan. The amount you receive for this will depend on your circumstances but it can be supplemented further by part time employment.
Once you finish your studies you will find that the sum of your Tuition Fee and Maintenance Loans will be consolidated, leaving you with one repayment per month. This only begins in the April after graduation and providing that the your are earning above £21,000. If your wage dips below this threshold, for any reason, the repayments cease. Any remaining balance thirty years after graduation is written off.
Scholarships and Bursaries
These are free pots of money allocated by universities to help students supplement and manage their finances. Each institution has their own packages of support on offer. Details regarding amounts, criteria and applications on offer at Loughborough can be found here.
Funding applications are carried out in the Spring of Year 13, and then renewed each subsequent Spring term until a student you have finished your course. They are made to and processed by Student Finance and completed electronically. In order to begin an application or to research further detail of support available, click here.