Don’t let the finance scare you. There is a lot of support in place to ensure that university is an option available to all.
This post is going to focus on Tuition Fees.
Tuition Fees are charged by universities as the cost of studying. For UK Students, the maximum a university can charge is £9,250 per year. (Don’t panic). This is the cost for your degree and to access all the services at the university.
So, how do you pay for it? Well, the good news is that we don’t expect you to have saved all that money! The vast majority of students access a Tuition Fee Loan.
The Tuition Fee Loan is a loan that covers the cost of the degree up to the maximum £9,250. If you are eligible and secure the loan, the Student Loans Company pays this fee direct from them to the university each year. This never touches your bank account, you never see the money.
Once you’ve had confirmation that you’ve had your Student Loan accepted, all you need to do is successfully enrol and the payments should work automatically.
You will need to reapply for this Tuition Fee loan each year, and re-enrol each year to ensure the payments are made on time.
Find out if you’re eligible for the Tuition Fee Loan here: https://www.gov.uk/student-finance/who-qualifies
The Student Finance Calculator on the link above gives you an estimate of the funding you may be eligible for. It will give you a breakdown of what Tuition Fee Loan you can get, and what Maintenance Loan you can get.
The Maintenance Loan is to cover living expenses. You can read our post about that here: