While at university or college you’ll have two main costs – tuition fees and living costs. Financial support is available to help you with these costs. This includes grants and bursaries (which you don’t have to pay back) and loans (which you do). Find out how much university or college costs.
How much will your university or college course cost?
If you’re going to university or college the main costs you’ll have are:
- tuition fees (the amount you are charged each year for your course)
- living costs (money for accommodation, food, bills and books)
Your costs will vary depending on where you study and live.
Grants, bursaries and loans are available to help you with these costs.
Full-time student costs
Tuition fees
Check your university or college prospectus or website to find out what your tuition will cost.
The maximum tuition fee a university or college can charge is:
- £3,290 for 2010/11
- £3,375 for 2011/12
- £9,000 for 2012/13
The increase in the maximum tuition fee rate to £9,000 in 2012/13 only applies if you’re entering university or college for the first time in September 2012 or later. Not all universities or colleges will charge the maximum amount.
Tuition fees for gap year students
If you decide to take a gap year and delay your entry from 2011/12 to 2012/13, your tuition fees will be at the 2012/13 rates.
Help with university or college costs – full-time students
Loans to cover your tuition fees
You don’t have to pay tuition fees up front, you can get a Tuition Fee Loan to cover the full cost. Your Tuition Fee Loan is paid directly to your university or college. You’ll have to pay your Tuition Fee Loan back when you earn over a certain amount. See ‘Repaying student loans’ below for details.
Tuition fee bursaries
You may be able to get a bursary to help towards your tuition fees. You don’t have to pay bursaries back. If your university or college charges the maximum tuition fees of £3,375 for 2011/12, you should get a bursary of at least £338.
From 2012/13, universities and colleges charging more than £6,000 per year have to provide financial help to those from low-income families.
Grants to help with your living costs
For 2010/11 and 2011/12 full-time students can get a Maintenance Grant to help with living costs if their household income is £50,020 or less. You don’t have to pay back Maintenance Grants.
The maximum Maintenance Grant available is:
- £2,906 for 2010/11
- £2,906 for 2011/12
The Maintenance Grant available for 2012/13 will be announced soon.
You’ll get the maximum Maintenance Grant if your household income is under £25,000. You’ll get less than the maximum if your household income is between £25,000-£50,020.
Loans to help with your living costs
All full-time students can apply for a Maintenance Loan to help with their living costs. The exact amount you can borrow will depend on several factors such as:
- your household income
- where you live
- when your start your course
- what year of study you’re in
- what help you get through the Maintenance Grant
You have to pay Maintenance Loans back when you earn over a certain amount. See ‘Repaying student loans’ below for details.
The maximum Maintenance Loan available for students starting their course in 2010/11 and 2011/12 is:
- £3,838 if you’re living at home
- £4,950 if you’re living away from home outside London
- £6,928 if you’re living away from home in London
The Maintenance Loan available for 2012/13 will be announced soon.
Part-time student costs
Tuition fees
There are no regulations stating how much universities or colleges can charge in tuition fees for most part-time courses.
Check with your university or college how much they charge. It’s also worth finding out how much the fees are likely to rise over the length of your course.
Help with university costs – part-time students
Tuition fees and other study costs
If you’re studying on a part-time course and your household income is below £27,506, you may be able to get:
- a Fee Grant to help with the cost of your tuition fees
- a Course Grant to help with other study costs, such as books, materials and travel
The maximum combined Fee Grant and Course Grant is £1,495 for 2010/11 and 2011/12.
Tuition Fee Loans from September 2012
From September 2012 onwards, if you’re a part-time student who is starting your first degree, you’ll be able to get a Tuition Fee Loan to cover your tuition costs.
To qualify for a Tuition Fee Loan you’ll need to spend at least 25 per cent of your time studying.
Loans to cover your course costs
If you’re a part-time student you may be able to get a Professional and Career Development Loan. This could help with your course fees and living costs. It’s a bank loan you pay back when you finish your studies. The amount you can borrow for your whole course is between £300 and £10,000.
Repaying student loans
You pay your Tuition Fee Loan or Maintenance Loan back when you leave your course and earn:
- over £15,000 a year if you start your course before September 2012
- over £21,000 a year if you start your course in September 2012 or later (subject to approval by parliament)
(source: www.direct.gov.uk)
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