Student Finance can seem daunting - but read on and all will become clear!

There are a number of reasons why student loans are a better system of borrowing than taking out a loan to cover the costs yourself:

  • Student loans don't go on credit files
  • Student loan repayments are proportionate to income (9% of anything you earn over £25,000)
  • If you lose your job or take time off, so you've no income, you don't need to repay student loans
  • Student loans don't employ debt collectors and won't chase you
  • You can't lose your house or belongings if your student loans aren't repaid (unlike secured debts)
  • After 30 years, any outstanding debt is written off

Tuition Fees

Universities in the UK can now charge students up to £9,250 a year for tuition fees (2018-19). For more details please see UK & EU Students - Undergraduate Tuition Fees. Tuition fee loans are provided by Student Finance England, and are paid directly to the university your child is attending. Tuition Fee loans will therefore never enter your child’s bank account.

Maintenance Loans

Full time students can also apply for loans to cover living costs, e.g. accommodation, travel, books, food. These loans are referred to as Maintenance Loans.

Maintenance loans are usually paid in 3 instalments at the start of each term, directly into your child’s bank account. The amount your child receives will be dictated by the income of the household in which they reside. Student Finance England will make an assessment using the information provided to determine how much your child is eligible for.

A Maintenance Loan will need to be repaid, and will be included with the tuition fee repayments.

To find out what funding support your child might receive, why not fill in the Student Finance calculator:


Student’s today may pay back less each month than those under the previous fee system, and may end up not paying anything back at all! Students only repay loans once they have graduated and are earning over £25,000 per year. Repayments are then set at 9% of earnings above this limit. Any outstanding balance after 30 years is wiped, regardless of how much of the loan is left to repay.

Example of repayments:

Graduate 1 earns £26,000 a year:

  • They earn £1,000 over the £25,000 limit.
  • 9% of £1,000 is £90
  • Graduate 1 would pay back £90 a year.

Graduate 2 earns £35,000 a year:

  • They earn £10,000 over the £25,000 limit.
  • 9% of £10,000 is £900
  • Graduate 2 would pay back £900 a year.


Scholarships/bursaries are non-repayable funds paid to a student by their University to help cover the costs associated with university. To find out more about the different scholarships/bursaries available from Keele visit Money, Advice and Guidance.


The Student Finance application process is now open and students can apply before they have received or accepted offers, as long as they have submitted their UCAS application form. The deadline for applications is 31st May 2018.

To start an application with Student Finance England go to:

Any questions?

If you have any questions about student finance, please contact our dedicated Money advice team at Keele: