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Tuition Fee & Maintenance Loans For Higher Education

Application For Tuition Fee Loan & Maintenance Loan

Tuition Fee Loans and Maintenance Loans for living costs are widely available for Higher Education courses. You can apply for a loan to help with the costs of a course at a college or training provider in England. Loan eligibility does not depend on your income and there are no credit checks.

What’s a Tuition Fee Loan?

A Tuition Fee Loan helps you to pay for your course. New full-time students can apply for a Tuition Fee Loan of up to £9,000 to cover the cost of tuition fees. The amount you can get doesn’t depend on your household income. The maximum Tuition Fee Loan available to new students starting courses with private universities and colleges is £6,000. However, you’ll be able to apply for the same Maintenance Loan as other full-time students.

What’s a Maintenance Loan?

A Maintenance Loan helps towards your living costs, such as food, rent and books. The amount you can borrow depends on your household income, your course and where you live and study. The loan is paid directly into your bank account at the start of each term. You have to pay the loan back.

2020 to 2021 academic year 2021 to 2022 academic year
Living at home Up to £7,747 Up to £7,987
Living away from home, outside London Up to £9,203 Up to £9,488
Living away from home, in London Up to £12,010 Up to £12,382
You spend a year of a UK course studying abroad Up to £10,539 Up to £10,866

If you’re 60 or over on the first day of the first academic year of your course you can apply for up to £4,014.

Repaying Loans

Loan repayments are based on your future income, not what you borrow. You won’t repay your loan until you’ve left university and your income is over £27,295 a year.

If you’re employed, repayments will be deducted from your income (the same as it is with tax and national insurance contributions).

  • You’ll repay 9% of your income over £27,295 a year. So, if you earn £28,800 a year this means you’ll repay 9% of £1,505 – £11 each month.
  • If you’re self-employed, separate arrangements are in place with HMRC to make your repayments.
  • If you stop working or your income drops below £27,295 your repayments will stop and only start again when your income is over £27,295 a year.
  • After 30 years, any outstanding balance will be written off, unless you have defaulted on your loan.

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