As a higher education student on a university-level programme, you do need to pay tuition fees.
However, you do NOT need to pay everything upfront.
You may be able to pay in instalments, or you can apply for a loan to help spread the costs.
See below for information about
- student loans
- tuition fee loans and common questions
other financial information
If you’re studying full time, you can take out two student loans per academic year:
- a tuition fee loan – to cover your annual tuition fees in full
- a maintenance loan – to help with accommodation and other living costs (how much you get will depend on your household income)
When you are assessed for your fees, you are automatically assessed for a student loan.
TUITION FEE LOANS
The tuition fee loan is available to cover the tuition fees for HNDs, foundation degrees or BA (Hons) degrees. Part-time students can apply for a tuition fee loan too.
When do I have to pay it back?
You only start to pay the loan back when you earn over £21,000 per year.
How much do I pay each month?
You repay 9% of your income above £21,000 only. So if your salary was £25,000, your repayment for the year is 9% of £4,000 – around £30 per month.
What if my salary drops after I’ve started paying?
If your salary falls below £21,000 – e.g. you take a career break or are unemployed – your repayments stop. Repayments only start again when you are earning over £21,000.
What if I reach retirement age before I’ve paid it off?
All loans are cleared after 30 years. If you have not repaid by then, it is written off
PAYMENT WITHOUT LOANS
You might get financial help from your university or college with a bursary. Bursaries do not have to be paid back.
If you are paying your own tuition fees, an instalment plan can be arranged. Just contact us.
Still to apply for student finance? You need to apply now, it takes at least six weeks to process your application – www.gov.uk/studentfinance
Are you returning to a full-time course at university or college in autumn 2014? You must re-apply for student finance now! The deadline for applications is Friday 27 June 2014.
For a range of useful one-minute films about student finance please go to www.youtube.com/SFEFilm
If you have any other questions, contact us for our up-to-date tuition fee information. Call 0800 371 434 or email HE@activatelearning.ac.uk