UA92 Admissions Officer Alix explains student finance simply, including the new changes, how to apply, and what you’ll need to pay back.
How much are tuition fees for students looking at 25/26 entry?
The standard 3-year degree is £9535 per year, and an Accelerated degree is £11,440. Fees for International students can vary so check our Fees and Finance page on the website for up to date fee info.
Can you explain the difference between the tuition fee loan, and the maintenance loan?
The tuition fee loan covers the cost of your course and goes straight to the university. Once the university has confirmed your attendance, it’ll be paid (directly to your university) in three instalments: September, January and April. Keep in mind that you will have to reapply for each year of your course, just in case your circumstances have changed
The maintenance loan goes directly into your bank account to cover living costs such as accommodation, food, etc. Like the tuition loan, this is also paid (directly to your bank account) in three instalments, around the months of September, January and April. Your maintenance loan is means tested, which means the amount you’re entitled to is dependent on certain factors. This includes your household income, where your university is located and if you’ve studied at university before. You’ll be asked for quite a lot of evidence, but it’s needed for Student Finance England to make their assessment. Try this Student Finance Calculator to get an idea of what you might be entitled to.
What does the recent increase in tuition fees mean for students?
The increase in tuition fees sounds quite scary, but for those looking to go to university in 2025/26, there will be zero impact on your day-to-day life as a student. There has also been a 3.1% increase to the maximum maintenance loan that you could be entitled to. It’s important to note that the repayment amount and thresholds haven’t changed with any of the increases.
Speaking of repayment, can you explain how this works when you graduate?
Repayment can often make students quite anxious, especially with increasing tuition fees, but it’s not as scary as it sounds. The first thing to note is that the tuition loan and the maintenance loan are rolled into one (if you’ve received both) so you won’t be paying back two different loans. Another important thing is that it’s not a bank loan, so it won’t negatively impact your credit score or anything like that.
There are two thresholds to meet before you can start repaying your student finance:
- No matter your salary, you won’t need to pay anything back until the April after you’ve graduated (when the new tax year starts). You should receive a letter before this to let you know if/when you will start repaying your loan.
- You need to be earning over £25,000 per year.
Now, if you are earning over these thresholds, you will pay back 9%, and that’s 9% of the money you make over £25,000 – not 9% of your entire salary. For example, if you make £30,000 per year, you will only have to pay 9% of the £5,000 you make over the threshold – which is £450. Your loan is paid back monthly, which (for this example) works out at £37.50 a month – that’s less than my phone bill!
Your loan repayment is calculated and taken from your wages automatically, just like your tax and National Insurance, so if you change jobs or get promoted, you don’t need to worry about letting anyone know. And if you wanted to pay off a lump sum in one go, you can do that. After 40 years, any remaining student loan will be wiped completely.
Do you have any tips for anyone applying for Student Finance?
- You can apply for Student Finance on the online portal. I’d recommend having a parent or guardian with you, alongside all the evidence you need. If you can’t finish it in one go, no worries, you can save your progress and come back to it another time.
- Get started as soon as you can once Student Finance opens (around March). You don’t need to have a confirmed your university place to apply for Student Finance, and it can take up to 10 weeks to process in busy periods, so it’s best to send off your evidence as early as possible. They may ask you send further evidence, which can delay things, so I’d suggest getting it stasrted asap.
- Make triple sure all your details are correct before submitting, as incorrect details may mean delaying the process and more forms to fill out. I’d recommend having your parent or guardian help you check.
- Use your personal email rather than your school or college email, as you’ll need to reapply for Student Finance every year of your degree, and you might not have access to your college email once you’ve left.
Hopefully Alix has addressed some fears and concerns around applying for and repaying your Student Finance. If you want to find out more, or have any questions about applying to university, email our Student Recruitment team at [email protected].