Hey there! Sign in to join this conversationNew here? Join for free

Applying for student loan Watch

    • Thread Starter

    I am planning on going university next year (2018)
    Will my savings affect applying for student finance? Because i will have about £10-15,000 on my bank account
    Will I get a student loan each year? I calculated I will get around £10,264 because I am applying to universities in London I won't live with my parents
    Can someone let me know ?
    Thank you
    • Official TSR Representative

    Hi simona2713,

    Your savings would not prevent you getting student finance for your course. All students on full time courses can apply for non means-tested funding (NMT) without us even having to check your household income. This means you can apply for a Tuition Fee Loan (TFL) of up to £9250 and Maintenance Loan (ML) funding.

    If you want to apply for a higher amount of ML then you can apply for means-tested (MT) funding based on household income. If you are under 25 we would usually look for your parents to provide financial information for this.

    If you are over 25 or married or have a child(ren) of your own or if you have supported yourself financially for three years we can assess you as an independent student and wouldn't need your parents financial information. We would take into account your bank or building society gross interest from your savings on any MT application whether your parents were supporting your application or not.

    We haven't had the funding confirmed for the 2018/19 academic year yet but I can confirm the figures for the current academic year to give you an idea of what you could get. You can check the Student Finance Calculator next Spring when the applications open for more up to date amounts.

    London rate NMT or minimum MT ML is currently £5479. The maximum MT loan amount is £11002. If household income is under £25000 you would get the maximum amount. If household income is between £25000 and £62180 you would get a partial ML.


  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    Will you be richer or poorer than your parents?
    Useful resources

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.