Student loans for Higher Education (HE)
If you’re studying on an HE programme (e.g. a Foundation degree, HNC or HND course) and are a UK resident, you’re eligible to apply for a Student Loan from the government to help pay for your tuition and living costs.
There are two types of loans available:
Tuition Fee Loan: covers your tuition fees throughout your course. It is not mean-tested, and is paid directly to the College.
Maintenance Loan: covers living costs e.g. rent and food. It is paid into your bank account in three instalments, at the beginning of each term. The Maintenance Loan is currently worth up to £11,000 a year, but the amount you will be able to borrow depends on your circumstances and household income.
How do I apply?
· Apply for your loan at www.slc.co.uk once you’re been accepted on to your course. We strongly recommend that you apply early to ensure you have funds in place when you start the course
· You should receive acceptance of your application within around six weeks
· Bring your loan agreement to enrolment OR provide the College with evidence that your loan application has been approved by 20 October 2017
· If you’re unable to provide this evidence, you will need to pay 20% of your tuition fees and sign up to a payment plan in order to be enrolled
When do I pay back my Student Loan?
· You only start paying your student loan back when you’re working and earning over £21,000 a year
· Repayments are 9% of your income over this amount
For more information on Student Loans and how to apply, please visit www.gov.uk/student-finance.
Funding for postgraduate study (Level 7)
Find out about funding for our Level 7 courses here