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About

This website was created and is maintained by the Schools Liaison team at Oxford Brookes University in collaboration with Magpie. The content is aimed at providing impartial and accurate information, advice and guidance about higher education in the UK.

The team are committed to widening participation in higher education by under-represented groups. To find out more about the activities we may be able to offer your school or college, please visit our website.

If you have any suggestions or feedback about the site, please email schools.liaison@brookes.ac.uk.

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Student Finance

Note: The following information applies to Universities in England only.

There have recently been a number of big changes to student finance. These have led to a lot of worry and confusion about what university costs and whether it is worth the money. Read the information below to find out more.

WHAT WILL MY UNIVERSITY EDUCATION COST?

Tuition fees
Universities are able to charge up to £9,000 a year for tuition fees for undergraduate courses. Some charge less. You do not need to pay these upfront.
Living costs
These include accommodation, bills, food, travel, social activities, sport and books.

HOW WILL I PAY FOR UNIVERSITY?

OXB305Diagram-4.1Website

TUITION FEE LOAN

You do not pay for tuition up front. The government provide loans to cover tuition fees. All UK undergraduate students are entitled to a tuition fee loan. Amounts available depend on whether you are studying full-time or part-time.
Part-time students are eligible for a loan to cover the cost of tuition if studying at least 25% of full-time course each year.

MAINTENANCE LOAN

All UK full-time undergraduate students are entitled to a maintenance loan to cover living costs. The amount you receive will be dependent on your household income, whether you will be living with your parents, and whether you will be studying in London.

Living with parents Up to £6,904
Studying in London and not living with parents Up to £10,702
Studying outside London and not living with parents Up to £8,200
Living and studying abroad for at least one academic term Up to £9,391

 

 

REPAYMENTS - HOW DO THEY WORK?

  • Tuition fee and maintenance loans are combined into one amount.
  • Repayments do not start until the April after you graduate AND when you are earning AT LEAST £21,000 per year.
  • You pay 9% of your income over £21,000 per year. For example, if you earn £25,000 you would pay 9% of £4,000 per year  (£30 per month).
  • If your income falls below £21,000 repayments stop automatically until you reach £21,000 again.
  • Your student loan repayments are linked to the Inland Revenue. If you are an employee, payments will go out automatically from your salary with your tax and national insurance.
  • After 30 years, the loan is wiped so no further payments will be made after this point. This means that many people won’t ever pay off the full loan amount.

LOAN INTEREST

  • While studying: interest charged at rate of inflation, using the Retail Price Index (RPI, plus 3%).
  • When earning: interest rates vary depending on your salary. On a sliding scale between £21,000 – £41,000, interest will be charged from RPI to RPI plus 3%.

EXAMPLES OF MONTHLY REPAYMENTS OF TUITION AND MAINTENANCE LOAN

 Salary Monthly payment
Up to £21,000 No repayment
Up to £21,500 £4 per month
Up to £25,000 £30 per month
Up to £30,000 £68 per month

 

This tool developed by the Independent Taskforce on Student Finance will give you a good idea about your likely repayments. It uses estimates about inflation rates and your estimated salary growth to calculate how much money you are likely to pay back.

SCHOLARSHIPS AND BURSARIES

(YOU DON’T PAY THESE BACK)
As part of the changes introduced by the government in 2012, financial support has been made available to students from low-income families. This means that university is actually now a lot more affordable for some students thanks to a range of extra sources of non-repayable money. 

Students from lower income families may benefit from university bursary schemes, which the government is partly contributing to via the National Scholarships Programme. Universities will offer different scholarships and bursaries. Please see individual university websites for details.

NHS GRANTS HAVE BEEN WITHDRAWN

From 1 August 2017, new students in England on nursing, midwifery and allied health professional (AHP) pre-registration courses (university courses which lead on to registration with one of the health professional regulators) will have access to the standard student support package of tuition fee loans and support for living costs, rather than getting an NHS grant.

FEE WAIVERS

Universities may be able to offer fee waivers (a reduction in tuition fees) to students. These often depend on their household income. Please see individual university websites for details.

FURTHER GOVERNMENT SUPPORT

Additional funding is available for students with physical, mental and learning difficulties, students with children, and students with adult dependants. This funding does not need to be paid back.

STUDENT FINANCE ENGLAND ON THE STUDENT ROOM

Check out SFE’s pages on The Student Room for more information.

Student Finance

Note: The following information applies to Universities in England only.

There have recently been a number of big changes to student finance. These have led to a lot of worry and confusion about what university costs and whether it is worth the money. Read the information below to find out more.

WHAT WILL MY UNIVERSITY EDUCATION COST?

Tuition fees
Universities are able to charge up to £9,000 a year for tuition fees for undergraduate courses. Some charge less. You do not need to pay these upfront.
Living costs
These include accommodation, bills, food, travel, social activities, sport and books.

HOW WILL I PAY FOR UNIVERSITY?

OXB305Diagram-4.1Website

TUITION FEE LOAN

You do not pay for tuition up front. The government provide loans to cover tuition fees. All UK undergraduate students are entitled to a tuition fee loan. Amounts available depend on whether you are studying full-time or part-time.
Part-time students are eligible for a loan to cover the cost of tuition if studying at least 25% of full-time course each year.

MAINTENANCE LOAN

All UK full-time undergraduate students are entitled to a maintenance loan to cover living costs. The amount you receive will be dependent on your household income, whether you will be living with your parents, and whether you will be studying in London.

Living with parents Up to £6,904
Studying in London and not living with parents Up to £10,702
Studying outside London and not living with parents Up to £8,200
Living and studying abroad for at least one academic term Up to £9,391

 

 

REPAYMENTS - HOW DO THEY WORK?

  • Tuition fee and maintenance loans are combined into one amount.
  • Repayments do not start until the April after you graduate AND when you are earning AT LEAST £21,000 per year.
  • You pay 9% of your income over £21,000 per year. For example, if you earn £25,000 you would pay 9% of £4,000 per year  (£30 per month).
  • If your income falls below £21,000 repayments stop automatically until you reach £21,000 again.
  • Your student loan repayments are linked to the Inland Revenue. If you are an employee, payments will go out automatically from your salary with your tax and national insurance.
  • After 30 years, the loan is wiped so no further payments will be made after this point. This means that many people won’t ever pay off the full loan amount.

LOAN INTEREST

  • While studying: interest charged at rate of inflation, using the Retail Price Index (RPI, plus 3%).
  • When earning: interest rates vary depending on your salary. On a sliding scale between £21,000 – £41,000, interest will be charged from RPI to RPI plus 3%.

EXAMPLES OF MONTHLY REPAYMENTS OF TUITION AND MAINTENANCE LOAN

 Salary Monthly payment
Up to £21,000 No repayment
Up to £21,500 £4 per month
Up to £25,000 £30 per month
Up to £30,000 £68 per month

 

This tool developed by the Independent Taskforce on Student Finance will give you a good idea about your likely repayments. It uses estimates about inflation rates and your estimated salary growth to calculate how much money you are likely to pay back.

SCHOLARSHIPS AND BURSARIES

(YOU DON’T PAY THESE BACK)
As part of the changes introduced by the government in 2012, financial support has been made available to students from low-income families. This means that university is actually now a lot more affordable for some students thanks to a range of extra sources of non-repayable money. 

Students from lower income families may benefit from university bursary schemes, which the government is partly contributing to via the National Scholarships Programme. Universities will offer different scholarships and bursaries. Please see individual university websites for details.

NHS GRANTS HAVE BEEN WITHDRAWN

From 1 August 2017, new students in England on nursing, midwifery and allied health professional (AHP) pre-registration courses (university courses which lead on to registration with one of the health professional regulators) will have access to the standard student support package of tuition fee loans and support for living costs, rather than getting an NHS grant.

FEE WAIVERS

Universities may be able to offer fee waivers (a reduction in tuition fees) to students. These often depend on their household income. Please see individual university websites for details.

FURTHER GOVERNMENT SUPPORT

Additional funding is available for students with physical, mental and learning difficulties, students with children, and students with adult dependants. This funding does not need to be paid back.

STUDENT FINANCE ENGLAND ON THE STUDENT ROOM

Check out SFE’s pages on The Student Room for more information.

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