The Student Room Group

I don't understand how Student finance works for undergraduates

I'm basically asking for a run down of how it works, how to apply, how it helps with paying for accommodation etc.
Original post by t0ky0trash
I'm basically asking for a run down of how it works, how to apply, how it helps with paying for accommodation etc.


There are some articles that are worth a read:

https://www.theuniguide.co.uk/advice/student-finance/how-student-finance-actually-works

https://www.moneysavingexpert.com/students/student-loans-england-plan-5/

You apply to the funding body in the country you are normally resident - Student Finance England, Student Finance Wales, SAAS or SFNI. For undergraduates, you can apply for a tuition fee loan to pay for your fees and a maintenance loan to pay for your accommodation and living expenses. The tuition fee loan is paid directly to your uni, the maintenance loan is paid to you in three instalments at the start of each term. Part of the maintenance loan is means tested - the greater your houshold income, the less you will get. Parents are expected to make up the difference between the maximum loan (what you would get if you are from a low-income family) and what you are awarded. You can use the following calculator to see what you might get.

https://www.gov.uk/student-finance-calculator
Reply 2
Original post by normaw
There are some articles that are worth a read:
https://www.theuniguide.co.uk/advice/student-finance/how-student-finance-actually-works
https://www.moneysavingexpert.com/students/student-loans-england-plan-5/
You apply to the funding body in the country you are normally resident - Student Finance England, Student Finance Wales, SAAS or SFNI. For undergraduates, you can apply for a tuition fee loan to pay for your fees and a maintenance loan to pay for your accommodation and living expenses. The tuition fee loan is paid directly to your uni, the maintenance loan is paid to you in three instalments at the start of each term. Part of the maintenance loan is means tested - the greater your houshold income, the less you will get. Parents are expected to make up the difference between the maximum loan (what you would get if you are from a low-income family) and what you are awarded. You can use the following calculator to see what you might get.
https://www.gov.uk/student-finance-calculator

Thanks! Also just wondering, can the maintenance loan be used to pay for accommodation or am I making that up?
Original post by t0ky0trash
Thanks! Also just wondering, can the maintenance loan be used to pay for accommodation or am I making that up?

You can use it for anything you wish.
Reply 4
thanks lol

Quick Reply