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  • Phone: +44(0)207 001 1780
  • Email: study@dgstudyworld.com


Student Finance (UK)

Student Finance (UK)

Age: 17+

Duration: Most institutions are offering 1-2 years HNDs, 2-4 year Bachelor's courses and 1-2 year Master's courses.

Start Date: January-February, May-June and September-October

Where we work: England, UK

Examples of Courses for which we can get the support of Student Finance England:

• Access courses

• Bachelor's

• Master's

Entry Requirements:

For HND: Class 12 qualifications or equivalent

For Bachelor's course: 240 UCAS points or equivalent; and GCSE Mathematics and GCSE English at Grade C or above

For Postgraduate courses: A UK Bachelor's degree or equivalent and two years of experience; or 5 years managerial experience; or Level 7 diploma

Fees:

These vary from £6,000 to £35,000 depending on the duration and type of course you wish to study.

Application processing time: 3-8 weeks depending on when you apply.

About the Student Loans Company & how the British Government helps students fund their studies

What is the SFE?

Student Finance England is a government-funded body that assists individuals who wish to study at university or college, in paying tuition fees and managing their living costs. The calculation to determine the exact loan and/or grant a person would receive, is based on their household income. The amount of tuition fees that must be paid depends on the individual’s specific circumstances. Further financial support is available for low income households, those studying with dependants, the disabled, and those with special medical health challenges.

What does the Student Finance package offer students?

University tuition fee (paid directly to the university) Maintenance loan (paid directly to the student) Maintenance grant (paid directly to the student)

University Tuition Fee:

UK/EU Students can apply for a tuition fee loan. Once approved, the money is paid directly to the university each term (three times a year). The sum will need to be repaid in monthly instalments, but only when you start earning more than £21,000 a year.

Maintenance Loan:

The maintenance loan is paid directly to the student’s bank account at the start of each term. How much you will receive will depends on your particular circumstances. See below to get a rough idea.

This loan will need to be gradually repaid after you start earning more than £21,000 a year.

Full Time Student Amount of Loan
Living at homeYou receive up to £4,418
Living away from home, outside LondonYou receive up to £5,555
Living away from home, in LondonYou receive up to £7,751
Studying abroad for a year as part of your UK courseYou receive up to £6,600



Maintenance Grant:

This money is granted to students to support their living costs. It is not a loan, and therefore does not need to be repaid. To apply for this, you must provide evidence of your household income. The maintenance grant is paid directly to the student’s bank account.

Full time student – household income* Grant for courses from September 2014
£25,000 or less£3,387
£30,000£2,441
£35,000£1,494
£40,000£547
£42,620£50
Over £42,640No grant



Please note: Additional grants are available for students with children/dependants, and disabled students.

What is "Household Income"*?

Your household income is made up of your income plus that of the people who live with you, for example:

· your parents

· your parent and their partner

· your partner

You must provide details of your household income if you apply for any of the following:

· full Maintenance Loan

· Maintenance Grant

· Special Support Grant

· Childcare Grant

· Adult Dependants’ Grant

How do you need to arrange your repayments?

Students are liable to pay back tuition fee loans and maintenance loans. You do not have to pay back other student finance, e.g. grants and bursaries that are given to you by the Government to support you.

Your loan repayments are linked with your future income. You only make repayments when you start earning more than £21,000 a year. Repayments are put on hold whenever your income drops below this amount.

Each year you will be required to repay 9% of any income over £21,000 in a year.

The table below shows how your repayments will look like at different pay scales:

Your income per year Monthly repayments
£21,000 and underNo repayments
£25,000£30
£30,000£67
£40,000£142
£50,000£217



Entry Requirements

The main entry requirements that make a person eligible for Student Loans Company funding are as follows:

Checking if you qualify Normally, you will be eligible to apply if:

· you are a UK national or have ‘settled status’ (so you have no restrictions on how long you can stay)

· you normally live in England

· you have been living in the UK for 3 years before starting your course

You may also be eligible if your residency status is one of the following:

· EU national, or family member of an EU national

· Refugee

· humanitarian protection (asylum seeker)

· EEA migrant worker

· child of a Swiss national

· child of a Turkish worker

Your age

There is no upper age limit for tuition fee loans or grants. To apply for a Maintenance Loan you have to be under 60 at the start of the course.

Previous Study

This is very important!

If you have studied previously on a higher education course, this will affect your entitlement to support.

If you already have a Bachelor's degree or you are applying for financial support for a course that is equivalent or lower in level than your first higher education course, you will not normally be eligible for any further financial support.

However, if you already hold a Foundation degree, HND, HNC or similar level 4/5 qualification, you can apply for support to "top-up” to a higher level qualification. However, your previous study will be taken into account in calculating your support entitlement. For example, if you have completed a two year HND or HNC course and you progress to year one of a three year degree course, you will not be eligible to receive a tuition fee loan or maintenance grant support, for the first year of the course. You will be eligible to receive a maintenance loan only.

Application Procedure Step 1

Students submit scanned copies of the following documents to the recruitment advisor:

1. Passport

2. Previous Educational Documents

3. National Insurance Number

4. Proof of address

Step 2

The DG Study World team checks these and helps you identify suitable partner institutions.

Step 3

If accepted, you will be invited for a free face-to-face consultation. Here, all the different university options will be discussed. You will then need to fill out the relevant application forms for the institutions concerned.

Step 4

All documents are passed on to the universities selected. You should expect to receive an offer letter within 2-3 days of sending the application.

Step 5

The university invites you to their campus and assists you in completing your UCAS and Student Loans Company (SLC) applications online.

Step 6

You receive a letter from the Student Loans Company detailing the finances that have been allocated to you. You will start receiving payments after you have successfully enrolled at the university, and after the university confirms your attendance to the Student Loans Company.

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