Loughborough University
Leicestershire, UK
LE11 3TU
+44 (0)1509 263171
Loughborough University

Student Advice and Support Service

Finance

Undergraduate Student Finance

This page covers the financial support available to undergraduate students from the UK and EU students who started their course in 2020 or earlier and includes financial support available from the Government and Loughborough University.

The information on Government support refers to UK students funded by Student Finance England (SFE)

For students who live in Wales, Northern Ireland or Scotland, there are different funding bodies depending on which country you live in. You should follow the relevant link below to funding available and how to apply.

Tuition Fee Loan

Loughborough University currently sets its fees at £9,250 per year. If you normally live in England you can apply to Student Finance England for a tuition fee loan up to a maximum of £9,250 regardless of household income and this money is paid directly to the University. You need to re-apply each year for the tuition fee loan. If you are from an EU country you can also apply for the tuition fee loan.

https://www.practitioners.slc.co.uk/products/full-time-undergraduate-education/full-time-tuition-fee-loan/

Maintenance Loan

Student Finance England also offer a maintenance loan to cover living costs. It is normally paid at the beginning of each term. The amount available depends on the household income and an assessment is carried out using the income for the tax year before the academic year being funding. It is important to remember to apply each year.

https://www.practitioners.slc.co.uk/products/full-time-undergraduate-education/full-time-maintenance-loan/

Maintenance Grants (if your course started before 1 August 2016)

If you began your current course before 2016/17 you may be entitled to a maintenance grant or a special support grant in addition to a loan if you have a low household income.

https://www.gov.uk/student-finance/continuing-fulltime-students

If household income has dropped

A current year income assessment can be carried out by SFE if it is anticipated that the current household income will be at least 15% lower than in the tax year used for a standard assessment. For 21/22 academic year the standard assessment uses household income figures from 19/20 tax year. Reassessment has the potential to increase your maintenance funding but is subject to finalisation at the end of the tax year when you will have to provide evidence confirming the actual income received

It is also important to be aware that some lump sum payments such as redundancy or pension lump sums will be treated as taxable income so will have the effect of increasing rather than decreasing the household income, when being assessed on Current Year Income. We recommend that you contact us for advice on Current Year Income before you apply. If you choose to be assessed on current year then Student Finance do not permit you to revert to the standard prior year assessment if your income is higher using the current year figures.

https://www.gov.uk/support-child-or-partners-student-finance-application

Students with children or dependent adults

If you are a student with caring responsibilities, you may qualify for extra financial support. SFE offers a Childcare Grant, Parents' Learning Allowance, and an Adult Dependants' Grant for full-time students, subject to income assessment.

Care leavers, Carers and Estranged Students

Some students don’t receive as much financial, practical and emotional support from family as others. Students who fall into certain categories may be eligible for additional financial support. More details can be found on our webpage: https://www.lboro.ac.uk/services/sass/finance/carers/

Disabled Students Allowance

Disabled Students Allowance is a targeted grant that can pay for study related costs which may be incurred at university as a result of a long term medical condition, sensory impairment, specific learning difference, mental health issue, autistic spectrum condition or physical disability.

More information about Disabled Student Allowance can be found here: https://www.lboro.ac.uk/services/cds/dsa/

Study Abroad / Erasmus+ year

If you are going to study abroad in one of Loughborough’s exchange partner universities or on an official Erasmus+ exchange, the statutory funding you will be eligible for is explained on the University webpage below. You may also be eligible for a mobility grant or a widening participation grant. New Erasmus+ placements will not be available after the UK leaves the EU.  If you started your Erasmus+ exchange before 31/12/20 it will continue on the same basis after the UK leaves the EU.

https://www.lboro.ac.uk/study/overseas-exchange/outgoing/before-you-leave/finance/

Placement year

If you are going on an official placement year your funding is likely to be different to funding for study years.

For placements or study abroad in 20/21 academic year : https://www.lboro.ac.uk/services/sass/finance/ug-placements-study-abroad/

For placements or study abroad in 21/22 academic year: https://www.lboro.ac.uk/services/sass/finance/ug-placements-studyabroad21.22/

EU/EEA Students

EU nationals starting their degree on or before 31/12/20 may be eligible to apply for a tuition fee loan to cover the cost of their tuition fees. If you are an EU student who has lived in the UK for more than 5 years before the first day of the first academic year of your course you may also be eligible for financial help with living costs.

https://www.gov.uk/student-finance/eu-students

EU/EEA nationals who come to the UK exercising their right to work and their family members, who undertake a higher education course can receive financial help with living costs and tuition fees without having been in the UK for 5 years. If you provide satisfactory evidence to SFE that you are in the UK as a Migrant Worker or their family member, you can apply for student finance to cover both fee and living cost support. We suggest you seek our advice if you are in this situation. Changes are likely after the UK leaves the EU, but details have not been confirmed at time of writing (December 2020).

https://www.ukcisa.org.uk/Information--Advice/Fees-and-Money/EEASwiss-migrant-workers

If you are awarded a fee loan as an EU national then you can expect to remain eligible for a fee loan for the duration of your course regardless of the progress of the Brexit process. It is important to remember to reapply for each year of study. https://www.ukcisa.org.uk/Information--Advice/Fees-and-Money/Government-Student-Support#layer-6245

Other categories of Home students

Under certain circumstances, including having refugee status or long residence in the UK, student finance might treat you as a home student meaning you are eligible for fee and living cost support. Further information can be found on the UKCISA website and detailed advice available from SASS.

https://www.ukcisa.org.uk/Information--Advice/Fees-and-Money/Government-Student-Support#layer-6193

Repaying

You will begin to repay your tuition fee loan and maintenance loan from the April after you graduate or stop studying if your income is over the threshold set by Student Loans Company. Further information on repaying your student loan can be found below.

https://www.gov.uk/repaying-your-student-loan

https://www.moneysavingexpert.com/students/repay-post-2012-student-loan/

Loughborough University Bursary

The University has its own scholarship scheme called the Loughborough University Bursary.

This is awarded to all UK (apart from Wales, the Channel Islands and the Isle of Man) and EU undergraduate students whose household income has been assessed as £25,000 or below by Student Finance. UK students will receive a bursary and/or fee waiver. EU students receive only a fee waiver, only for certain years of their degree programme.

Unless you or your parents have opted not to share your income information, you will be automatically awarded the bursary if your income is £25,000 or below.  You and your parents can phone Student Finance (telephone 0300 1000607) to agree/amend  sharing permission for the purpose of the bursary award, if it has been omitted in error. The bursary will be paid in three instalments, one each term, during the academic year. 

If you believe you should be entitled to the bursary but have not received confirmation of this from the University, then you should contact Student Enquiries in the Rutland building.

https://www.lboro.ac.uk/study/undergraduate/fees-funding/scholarships/loughborough-university-bursary/

Loughborough Bursary for Unpaid Placements

For students who intend to undertake an unpaid placement year, there is the possibility of applying for the Loughborough Bursary for Unpaid Placements (LBUP).

This bursary is open to UK undergraduates only and is assessed on household income. To qualify for the limited bursaries available, your household income should be £25,000 or below. Confirmation of this will be based on information the University receives from SFE (as long as you and your parents give consent).

https://www.lboro.ac.uk/services/careers/students-and-graduates/placements/looking/#

Other University bursaries / scholarships

For a detailed list of scholarship/bursary opportunities, please see the University's webpage: https://www.lboro.ac.uk/study/undergraduate/fees-funding/scholarships/