When should I apply for help for my Higher Education course?
You should apply as soon as possible after applying for your course and no later than four months after your course starts. The earlier you apply the more likely it will be that your money will be available for you to collect at the start of your course.
The application forms are available in March; you should complete and return it as soon as possible with any required documentary evidence. Please do not wait until you have your results. We will send you a timetable of the latest dates by which forms should be returned.
It is anticipated that students will have the option of applying for support in 2005/2006 online. This will be done through the Student Finance Direct website.
How much student loan can I get?
The maximum amount of loan that you can get in 2004/05 is:
- £4,095 for students living away from home
- £5,050 for students in London and living away from home
- £3,240 for students living at home
75% of the maximum loan is available to all eligible students regardless of any other income they have. Whether you can get any or all of the remaining 25% depends on your income and that of your family. We will assess the amount of loan you can get and advise you.
How is my student loan paid to me?
The Student Loans Company will usually pay your loan in three installments. Payments will normally be made directly into your bank or building society account. You will receive a payment schedule from the SLC which tells you how you will get your money.
How do I repay my student loan?
You will be liable to begin making repayments on your loan from the April after you leave your course. If you pay tax through PAYE your employer will be required to make deductions from your salary once you earn over the repayment threshold of £15,000 a year. If you are self employed you will be required to make your repayments with your tax return. Your repayments will be calculated at 9% of your income over the £15,000 threshold. For example, someone with an income of £20,000 a year would be liable to repay 9% of £5,000 or £37 a month. It is also possible to make extra voluntary repayments in order to speed up the repayment process.
Further information on student loan repayment can be found on the DfES website.
Why is my amount of student loan less in the final year?
In the final year of your course the student loan is only payable up to the point you graduate rather than for the whole year. This is the reason for the amount being reduced in your final year.
What if I don't get a job after leaving my course or if I lose my job?
You will only be required to make repayments on your student loan if you are earning more than £15,000 a year. If your income falls below this level your repayments will cease and will not start again until your income is above £15,000 a year.
How much will I have to pay towards my fees?
That depends on you and your family's income. The most you will have to pay in 2004/05 is £1,150. If your parents' residual income is less than £21,475 you will pay nothing. If their income is above £31,981 you will have to pay the full £1,150. We will assess how much, if anything, you will have to pay.
How do I pay my tuition fees?
Your college will ask you for any fee contribution assessed by us. You will need to pay your college directly. Many colleges allow students to pay their fees by instalments. Please check with individual colleges to find out what their fee payment policy is.
What extra help is available?
Extra help may be available if you are disabled, have dependants, have been in care or if you have extra travel costs to meet. If you have indicated this on your application we will send you further information on help available and how to apply.
If you think you may be eligible and would like an information booklet please contact us immediately.
in 2004/05 a new HE grant of £1,000 has been introduced. Students will be eligible for the full grant if their residual household income is £15,200 or less. A reduced amount of grant is available for students whose residual income is between £15,200 and £21,185. If the residual household income exceeds £21,185 the student is not eligible for this grant.
Extra help, in the form of an Access or Opportunity bursary, a hardship loan or help from hardship funds may also be available from your college or university. Contact the admissions tutors or student support service at your university or college for further details.
I want to study part time. What help is available for me?
From 2004/05 part-time students will be eligible for an income assessed grant towards their fees, subject to a maximum of £575. They will also be eligible for a course grant of up to £250 towards books, travel and other expenditure associated with the course. Part time students with disabilities may be able to get help from Disabled Student Allowances (DSAs)
What if I change course or university/college?
Please notify us of any changes as soon as possible. A change of course or university/college might affect whether you are able to get financial help and how much you can get. A change of circumstances form is included with your student loan notification.
What if I change my address?
Please notify us immediately using the change of circumstances form. It is important that we have your current address so that we know where to send your loan request form and future applications.
Is there funding available for postgraduate courses?
In general, there is no mandatory support for postgraduate courses of study.
The exception to this is PGCE courses for those wishing to become teachers. If you are planning to attend a PGCE course please contact us for an application form and information booklet. Disabled Students Allowances are also available to students undertaking postgraduate study.
Students wishing to go on to do post graduate courses are advised to make direct approaches to Universities to see whether any funding is available. It may also be worth contacting Research Councils UK to see if there is any funding available through them.