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Student Loan for Maintenance 2020-21

Student loans for living costs are part of the financial student support package available to assist new and existing full-time home undergraduate and PGCE students with their living expenses.

Around 50% of the amount available will be means tested and based on household income.

Am I eligible? 

Whether you qualify for a maintenance loan depends on a varity of factors:

  • your course
  • if you’ve studied a higher education course before
  • your nationality or residency status
  • your age

 

Your course needs to be in the UK and one of the following: 

  • a first degree, for example BA, BSc or BEd

  • a Foundation Degree

  • an Initial Teacher Training course

  • an integrated master’s degree

  • a pre-registration postgraduate healthcare course

If you are studying part-time, your course needs a ‘course intensity’ of 25% or more for you to be eligible for student finance.

 

Note on previous study:

You’ll usually only get student finance if you’re doing your first higher education qualification - even if your previous course was self-funded. You may still be eligible for limited funding in certain circumstances.

If you have studied before please visit our previous study page for more information. 

 

Nationality or Residency status:

You can apply if all of the following apply:

  • you’re a UK national or have ‘settled status’ (no restrictions on how long you can stay)

  • you normally live in England

  • you’ve been living in the UK, the Channel Islands or the Isle of Man for 3 years before starting your course

Non-UK nationals must have settled status on the first day of the first academic year of the course.

You may also be eligible if your residency status is one of the following:

  • refugee

  • humanitarian protection

  • EEA migrant worker

  • child of a Swiss national

  • child of a Turkish worker

  • a stateless person (including family members) and you’re a new student starting on or after 1 August 2018

You may also be eligible if you’re not a UK national and are either:

  • from an EU country*

  • under 18 and have lived in the UK for at least 7 years

  • 18 or over and have lived in the UK for at least 20 years (or at least half of your life)

*You may be eligible for help with your living costs if you’ve lived in the UK for more than 5 years before the first day of the first academic year of your course.

Example: If your course begins on 20 September 2020, you must have lived in the UK since 1 September 2015.

If you’re 60 or over, you may get limited funding for Maintenance Loans if all of the following apply:

  • you’re 60 or over on the first day of the first academic year of your course

  • you’re studying full-time

  • your course started on or after 1 August 2016

How much will my maintenance loan be worth?

The amount of student loan you can get will depend on the year you started your course, your household income, and the type of course you are doing. 

These differing loan rates are detailed below, followed by more detailed explanation of how these are assessed.

 Student Loan Rates - New students in 2016/17 or later

Student Loan Rates - new students in 2016 or later

 FULL YEARMaximum Loannon- income assessed income assessed
London rate

 £12,010

 £5,981

 £6,029

Parental home rate

 £7,747

 £3,410

 £4,337

 Overseas rate

 £10,539

 £5,095

 £5,444

FINAL YEAR

 

 

 

London rate

£11,127

£5,449

£5,678

Parental home rate

£7,290

£3,133

£4,157

Overseas rate

£9,434

£4,427

£5,007


Student loan rates - Continuing students who started 2012/13 - 2015/16

FULL YEARMaximum Loan65% non- income assessed 35% income assessed
London rate

£9,205

£5,983

£3,222

Parental home rate

£5,247

£3,410

£1,837

Overseas rate

£7,838

£5,096

£2,742

FINAL YEAR

 

 

 

London rate

 £8,383

 £5,449

 £2,934

Parental home rate

 £4,821

 £3,133

 £1,688

 Overseas rate

 £6,812

 £4,428

 £2,384

Reduced Student Loan Rates 2019

Reduced rate loan* Full year Full yearFinal year Final year
 

Sandwich Year

NHS Bursary Year

Sandwich Year

NHS Bursary Year

London rate

£3,914

 £3,451

 £2,994

 £2,642

Parental home rate

£2,090

 £1,845

 £1,588

 £1,400

Overseas rate

n/a

 £2,458

n/a

 £1,916

 

*Reduced-rate loans for income assessed NHS/DH/SNM bursary holders and full year sandwich paid placement years only - FOR ALL YEARS OF ENTRY

Student loan rates - Continuing students who started 2009/10 - 2011/12

FULL YEARMaximum loan72% non-income assessed 28% income assessed 
London rate 

£8,309

£5,983

£2,326

Parental home rate

£4,604

£3,314

£1,290

Overseas rate

£7,068

£5,089

£1,979

FINAL YEAR

 

 

 

London rate

 £7,565

£5,446

 £2,119

Parental home rate

 £4,177

£3,008

 £1,169

Overseas rate

 £6,146

£4,425

 £1,721

Student loan rates - Continuing students who started 2006/7 - 2008/9

2
FULL YEARMaximum loan75% non- income assessed 25% income assessed
London rate 

£7,969

£5,976

£1,993

Parental home rate

£4,404

£3,302

£1,102

Overseas rate

£6,779

£5,085

£1,694

FINAL YEAR

 

 

 

London rate

£7,254

£5,441

£1,813

Parental home rate

£3,979

£2,985

£994

Overseas rate

£5,894

£4,421

£1,473

How will my student loan be assessed?

The amount of student loan for maintenance you request can be any amount up to your maximum assessed entitlement. 

You are entitled to a percentage of the maximum figure, regardless of your household income. This percentage differs according to the year you started your course - see table above. Whether you can get any or all of the remaining income assessed portion will depend on your income and that of your household.

However, you should note that under loan substitution rules, students receiving any level of maintenance grant will also have their maximum amount of student loan for maintenance entitlement reduces as follows: 

  • Students who started between 2009 and 2015:  by £0.50 for each pound of maintenance grant they receive. 

  • Students who started before 2009: by £1 for each pound of maintenance grant they receive, up to £1,527.

How will my student loan be paid?

Your student loan will be paid to you in three instalments, at the beginning of each term. Payments are made direct into your bank or building society account. It is essential that you notify the Student Loans Company (0300 100 0607) of any changes in your bank details.

It is also essential that you bring a copy of your financial notification letter with you to enrolment, as your unique Student Support Number is needed in order for the university to authorise the release of your first loan instalment.

When and how will I repay my student loans?

For students who take an undergratuate loan after 1 Sept 2012

Repayments of loans start in the April after you leave higher education, and only once you start earning over £25,000. Repayments are will depend on the amount you earn, not the amount you borrowed.

You will repay 9% of your earnings above £25,000.

Your employer will take repayments from your salary during any pay period where your earnings before tax are over the weekly or monthly threshold.

By pay period, we mean each time you receive your salary. This could be every:

  • Week

  • Four weeks

  • Calendar month

The earnings threshold is:

  • £494 a week

  • £2,143 a month

  • £25,000 a year

You pay 9% of your income over the threshold

For example, if you are paid monthly and earn £2,400 before tax per month you would repay 9% of the difference between what you earn and what the threshold is:

£2,400 - £2,143 = £257

9% of £257 = £23

So your monthly student loan repayment would be £23.

Find more details on how repayments will work, and what you can expect from the SLC.

For students who take an undergratuate loan before 1 Sept 2012

Repayments of loans start in the April after you leave higher education, and only once you start earning over £18,935. Repayments are will depend on the amount you earn, not the amount you borrowed.

You will repay 9% of your earnings above £18,935.

Find more details on how repayments will work, and what you can expect from the SLC.

 

Where can I get further information?

For any assistance with the application process, please contact the Student Funding Office.

You can also visit the GOV.UK website .

Disclaimer

The College has tried to give students an early opportunity to begin their research of student funding. Although every effort has been made to ensure that information provided is both helpful to prospective candidates and accurate at the time of its publication, it is possible that some information may be outdated or superseded before the start of the 2019-20 academic year.


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