Financial Support for 2012/13
Learners who start university or college after 1st September 2012 (academic year 2012/13) will have to apply for funding via a new student finance scheme than that of previous years.
The main differences include:
- Full time learners don't start repaying loans until they earn £21,000 or above
- Part time students can apply for a Tuition Fee Loan (replacing the grant system)
- Part time students who earn over £21,000 a year have to start paying back their loans after three years, even if their course hasn't finished.
To cover the costs of tuition and study you can apply for:
- Tuition Fee Loan to cover your tuition fees (full and part time students)
- Maintenance Loan for living costs (full time students only)
- Maintenance Grant if your household income is less than £42,600 (full time students only)
- Scholarships and bursaries from your college and/or university
- Extra financial help if you have a disability, or children or adults depending on you.
The maximum Maintenance Loan for new students starting from 1st September 2012 is:
- £5,500 if you live away from home and study at a university or college outside of London
- £7,675 if you live away from home and study at a university or college in London
- £4,375 if you live at home
You can also apply for a Maintenance Grant if your family income is below £42,600. You can get:
- £3,250 if your household income is £25,000 or under
- £50-£3,250 if your household income is between £25,000 and £42,600
The exact amount full time students can borrow depends on:
- your family's income
- where you live
- what year of study you're in
- what help you get through the Maintenance Grant
Special Support Grant
If you get or qualify for Income Support or Housing Benefit you may get the Special Support Grant instead of the Maintenance Grant. The amount you can get through the Special Support Grant is the same as that available through the Maintenance Grant but it won't reduce how much you get for your Maintenance Loan.
You are likely to qualify for the Special Support Grant if:
- you're a single parent
- your partner is also a student
- you have certain disabilities
The Special Support Grant doesn't count as income when working out if you're entitled to income-related benefits or tax credits.
For further information about financial support visit www.direct.gov.uk or speak to one of our Guidance and Liaison Officers.