2.1 Your student finance

Understanding what you can get

Your student finance is based on your individual circumstances, this means that you need to submit an application before we can tell you what types of finance you can get, and how much exactly.

What this means to you

You do not need to work out what types of finance you might be eligible for - submit an application and we'll work that out for you.

Once we have everything we need - we'll be able to tell you what you can get.

What do you mean by types of finance?

Not all types of finance are available to all students, but the types of finance we offer include:

• help with tuition fee costs - this helps cover the costs charged by your university or college to attend your chosen course
• help with living costs - this is funding to help with general costs of living while you're studying
• extra help - this includes funding to help with extra costs relating to childcare, care of another adult, a disability or long term health condition while you study

What can affect your eligibility for a type of finance?

The types of finance you could get and how much is largely dependant on the following:

• the academic year of study you're applying for
• the qualification level of your course (undergraduate or postgraduate)
• how you choose to study (full time or part time)
• your nationality and residency information (where you're from and where you live)

Once you've applied we'll determine the types of finance available to you and how much you can get. This will be confirmed in your Notification of Entitlement letter and often referred to as your 'Student Finance package'.

Your student finance package can be made up of loans, grants or allowances or a combination of these. Understanding the differences between these types of funding is important.

Difference between loans, grants and allowances

Loans have to be repaid, whereas grants and allowances usually do not, unless you're overpaid or leave your course early.

You're charged interest on loans from the day we make your first payment until the balance is repaid in full or cancelled.