Higher Education
As a student going into Higher Education, you'll have to pay Tuition fees. Amounts can vary depending on what course you do and where you study, but for the academic year 2011/12, you can be charged no more than £3,375 a year. You'll also have living costs to consider. The good news is there are various sources of financial help available.
Maintenance Grants
You could receive a Maintenance Grant of up to £2,906 a year in 2011/12 (or if you've children to support or are disabled you could get the Special Support Grant.) These Grants do not have to be paid back. The amount you'll get depends on your household income. Visit www.direct.gov.uk/studentfinance to find out more.
Bursaries
Universities / colleges charging the full tuition fees must provide a bursary of at least £338 to students who are eligible for the maximum Maintenance Grant. (Some students may get much more than this). Bursaries do not have to be paid back. Visit the student finance section on www.ucas.com to find details of bursaries available at every university and college in England or check out the bursary and scholarship comparison table at thecompleteuniversityguide.
In addition to bursaries paid by universities and colleges, some professions make bursaries available to students.
If you're intending to study for nursing, midwifery and other medical professions you may be entitled to an NHS bursary. Check www.nhsstudentgrants.co.uk for detailed information.
The Social work bursary is available for certain courses. Check www.ppa.org.uk/swb for up-to-date funding arrangements
Student loans
Student loans are available to help you with tuition fees and living costs. You will have to pay these back but not until you have left your course and are earning at least £15,000 a year. On an average post graduate starting salary of £18,000 (£346 a week) you will pay back just £5.19 a week. For the latest news and information on Student Loans go to www.direct.gov.uk/studentfinance
Disabled Students Allowance
The Disabled Students Allowance pays for extra costs you have on your course because of your disability or specific learning difficulty (such as dyslexia).Visit www.direct.gov.uk and check out Education and Training (Disabled People section) for details.
Sponsorships
Sponsorships are arrangements whereby employers give financial support (and often work experience) to students, subject to you agreeing to various conditions. Check out www.everythingyouwantedtoknow.com for more information.
If you're considering a career in the armed forces when you graduate, check out sponsorships at www.armyjobs.mod.uk, www.rafcareers.com, www.royal-navy.mod.uk and www.royal-marines.mod.uk.
Work placements
The Year in Industry scheme provides paid, degree relevant work placements in the year prior to you starting your HE course or in a year out taken during your course. Go to www.yini.org.uk for full details.
Income from part-time and vacation work
Part-time work and vacation work are useful ways of boosting your finances and gaining new skills. Many universities and colleges have 'student job shops' to help you find suitable employment on and off campus.
When and how can I apply for a grant, bursary or student loan?
You can do it online at www.direct.gov.uk/studentfinance. There's an online calculator to work out how much you can get and what bursaries may be available at your preferred university or college. You can also get on-line help with your application through email and web chat, or you can call the Student helpline: 0845 800 5090.
There's no need to wait until you've got a place on a course. Put your first-choice course on your student finance application, and let Student Finance England know if it changes later.
