Student Financial Support

Loans

Student finance

You can apply for a variety of loans to help you finance your studies.

UK students

Many full-time UK undergraduate students finance their studies by applying for a maintenance (living cost) loan, maintenance grant and tuition fee loan through the Student Loans Company.

The type and level of funding you are eligible to receive will depend on:

  • information about your household income
  • when you started your course
  • where you live and study

You will receive a lower rate of maintenance loan during the final year of your course.

If you have to undertake a placement year, you may receive a different funding package during your placement year. If you are eligible to apply for NHS funding, you will only receive a reduced rate non-income assessed maintenance loan during NHS funded years of your course.

You need to make a separate application for student finance for each year of your course.

If you already hold a higher education level qualification from either a UK or an overseas institution and you want to study for a qualification which is equivalent to or lower than the qualification you already hold, your entitlement to student finance will be affected by your previous study.

Change of circumstances

If you experience a change in your circumstances or things haven't worked out, you will need to think about how this will 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.

Repayment and interest

Maintenance loans and fee loans are repayable and start accruing interest from when the first instalments are released. Repayment terms and interest rates depend on the year you started your course and the assessment authority you apply to for your student finance.

More information

Students from the EU, Canada or the USA

Placement year

Different types of placement can attract different types of funding.

If you're planning a study or work placement, here's what you'll need to know.

Does my Student Finance England (SFE) application need to be different?

Apply for your student funding as early as possible. Let SFE know you’re on a placement. If you don’t know the details of your placement, you can still apply and update SFE later. If you need to change anything on your application, you must do it six weeks before the start of your placement to make sure you get your money in good time.

What if I need to make changes while I’m away?

Think about setting up Consent to Share (CTS) with SFE before you go away. CTS gives a parent, friend or University Adviser the ability to discuss your account on your behalf, meaning you don’t need to make costly calls to SFE while you’re away.

To set up CTS for a University Adviser, you need to call SFE (0300 100 0607) giving them the following information:

  • first line of University address: Claremont Road
  • university postcode: NE1 7RU
  • relationship: University Adviser
  • password: your choice, but you’ll need to share it with us

What type of placement funding is available?

There are funding arrangements for:

  • Erasmus year abroad (work or study)
  • study abroad in a non-EU country
  • non-Erasmus work placements
  • work placement in the UK

If you suspend your studies to complete a placement year, you won’t be classed as a registered student, so you aren’t eligible for any funding.

Will I still get a University scholarship?

If you’re on a full-year placement, you’ll get a tuition fee discount of up to £8000. Therefore, you won’t be eligible for a University scholarship while you’re away.

If you’re on a part-year placement, you will pay a full tuition fee, so you can be considered for a scholarship.

What if I’m not on a full-year placement?

If you’re on a part-year placement, you’ll pay a full tuition fee. You’ll get placement funding for the time you’re on placement, and standard funding for the time you’re at University.

What happens if I have money trouble while I’m away?

If you find yourself struggling for money while you’re on a registered placement, apply to the Student Financial Support Fund to help with living costs. You’ll need to provide documents like banks statements, student finance entitlement letters and tenancy agreements to support your application. Make sure you have access to these documents while you’re away.

Detailed information

Read our finance guidance for students going on placement (PDF: 277KB).

Change of circumstances

A change of circumstance can have an impact on your eligibility to receive student loans.

What is a change of circumstances?

A change of circumstances is when you:

Why is it important?

A change of circumstance can have an impact on your eligibility to receive student loans. If you decide to make a change in your studies before looking into the financial implications, you might not be able to get a tuition fee loan in future, especially if you have previous study from another degree. Your funding body might also ask for a repayment from you if they think you’ve had an overpayment from your maintenance funding.

How can I find out more?

Take a look at the items below before you make any decisions. You can also give us contact us if you have any questions.

Postgraduates

Loans for Masters students.

The Postgraduate Master's Loan Scheme is available to students from England and non-UK EU countries. If you're  from Northern Ireland, Scotland or Wales, you should apply to your own student finance agency.