Loans
Higher education is a big investment and many of you may be put off by some of the publicity around student debt. It's important to remember that there are no upfront costs and currently you only repay when you earn over £25,000 per year. The information here is just for starters with links to other sites where you can find out more.
For the most up-to-date information, go to GOV.UK Student Finance or UCAS.
Student Finance England provides you with student finance while you're studying.
If you're planning to start a full-time undergraduate course in autumn of 2026, you can apply for student finance from late March 2026.
The maximum a university or college can charge for tuition fees is currently £9,535 per year, with an expected increase to £9,790 for 2026/27. However not all of them charge this maximum amount.
You don't have to pay tuition fees up front. You can take out a Tuition Fee Loan to cover the full cost of your course and you only pay this back once you have graduated and are earning over £25,000.
This money is paid directly to the university, so you never see it.
All full-time students can apply for a Maintenance Loan to help with living costs (accommodation, food and course materials) - how much you might receive depends on a number of things including your family's income, where you study and where you live.
As with the Tuition Fee Loan, you don't start making repayments until after you have graduated and are earning above a certain amount.
This money is paid into your bank account in three instalments throughout the year - so it's up to you to manage this money.
Repayments
You have to pay back tuition fee and maintenance loans but not until you've finished or left your course and are earning more than £25,000 a year. If your income drops below this amount at any time then your repayments stop.
You pay back 9% of any income over £25,000 each month which is automatically taken out of your salary. For instance, if you are earning £26,000 per year, you will pay £90 a year (9% of £1,000).
Your repayments are automatically taken out of your salary.
Any outstanding debt still owed after 40 years is written off.
Interest rate on student loans
Your debt doesn't just account for the Tuition Fee and Maintenance Loans - it also includes interest which is applied from the day you start university.
This interest rate is currently 3.2%.
Student finance 'to do' list
- Use the Student Finance Calculator to work out exactly what student finance you're entitled to.
- To apply for funds, you need to complete an online application form from Student Finance England. Get your application in early - you don't need to wait until you receive offers back from universities you've applied to.
- Take a look at the Student Finance Zone for information and guidance about loans and other financial support such as grants and bursaries.
- MoneySavingExpert.com has information about Student Finance which is well worth a read.
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