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Student Maintenance Loans

Student maintenance loans are available from the government through the Student Loans Company to help eligible UK undergraduate students meet their living costs during their time at University. Different rates of funding and application processes are in place depending on whether you usually live in England, Northern Ireland, Scotland or Wales.

Students from England

Loan amounts

Eligible students from England can receive 65% of the maximum loan available regardless of their household income – this is the non-income assessed element of the loan. The remaining 35% of the maximum loan available is income assessed and the amount payable will depend on the level of household income. For more detailed information see A Guide to funding for new students (PDF:308KB) or a Guide to funding for continuing students (PDF:296KB)

Non-Final Year Rates for 2012 cohort students (those who started their course from 2012 onwards)
 

2014/15

Living at home

2014/15

Living away from home outside London

2015/16

Living at home

2015/16

Living away from home outside London

Maximum Loan
£4,418
£5,555
£4,565
£5,740
65% non-income assessed element
£2,871
£3,610
£2,967
£3,731
35% income assessed element
£1,547
£1,945
£1,598
£2,009
Final year rate for 2012 cohort students (those who started their course from 2012 onwards)

Students in the final year of their course will receive a lower rate of maintenance loan.

 

2014/15

Living at home

2014/15

Living away from home outside London

2015/16

Living at home

2015/16

Living away from home outside London

Maximum Loan
£4,060
£5,166
£4,195
£5,338
65% non income assessed element

£2,639

£3,357
£2,726
£3,469
35% income assessed element
£1,421
£1,809
£1,469
£1,869
Non-final year rates for students who commenced their course in 2009/10, 2010/11 or 2011/12:
 

2014/15

Living at home

2014/15

Living away from home outside London

2015/16

Living at home

2015/16

Living away from home outside London

Maximum Loan
£3,876
£5,000
£4,005
£5,167
72% non income assessed element
£2,790
£3,600
£2,883
£3,720
28% income assessed element
£1,086
£1,400
£1,122
£1,447
Final year rates students who commenced their course in 2009/10, 2010/11 or 2011/12:

Students in the final year of their course will receive a lower rate of maintenance loan.

 

2014/15

Living at home

2014/15

Living away from home outside London

2015/16

Living at home

2015/16

Living away from home outside London

Maximum Loan
£3,517
£4,628
£3,634
£4,782
72% non income assessed element
£2,532
£3,332
£2,616
£3,443
28% income assessed element
£985
£1,296
£1,016
£1,339

For more information visit Student Finance England.

Applying for a Maintenance Loan

All new and continuing students from England who wish to apply for a maintenance loan should complete an online application. An application must be made for each year of study. Applications can be made up to nine months from the first day of the academic year. To contact Student Finance England telephone: 0300 100 0607

Maintenance loan payments

The Student Loans Company will usually pay the money directly into your bank account in three instalments at the start of each term.

Change of circumstances

If you experience a change in your circumstances or things haven't worked out as expected you will need to think about how this might affect your finances. You should always notify your assessment authority if your circumstances change in any way as this could affect your eligibility to student finance. Take a look at further information how your student finance can be affected.

Repayment & Interest

You do not need to start repaying your loan until the April after you leave your course or you graduate - whichever is sooner and only when you are earning enough. You will be required to pay 9% of any income you have above the relevant threshold

Started your course after September 2012

If you commenced your course in September 2012 you will begin to repay your loan once you are earning £21,000 or more. If you started your course after 1st September 2012 interest rates vary and will depend on the rate of inflation and also how much you earn after you graduate.

Started your course before September 2012

If you started university before September 2012 you will need to start repaying their loan once you are earning £17,335 or more. You are charged interest on your loan from the moment you receive the first instalment of your loan until you have paid it off in full. If you started your course before September 2012 interest rates vary because they are linked to the rate of inflation. The current interest rate is 1.5%.

For repayment enquiries call 0300 100 0611.