What funding support is available for a degree course?
Students can apply for a loan from the government called a 'Tuition Fee Loan' available to fully cover their tuition fees for each year of their course.
There is also loan support available towards living costs to pay for things like food, bills, accommodation, travel, course costs and other general living costs. Further information on the funding support available can be found on Careerpilot.
Tuition fees vary depending on the course your child chooses to study and the university they choose to attend. Tuition fees can be anything up to a maximum of £9250 per year. This fee covers all of the costs associated with teaching your child in their chosen degree subject, attending the university and using all of the study facilities such as the library / computer equipment.
It is important to note however that there are no upfront costs payable for tuition fees because every student can get a loan (Fee Loan) paid by the government as part of their funding support that will fully cover the cost of the tuition fees for each year of the course.
Graduates only start paying back when they are earning £25,725 or more and then the rate of payment is determined by how much they earn.
Funding support based on household income
Students can also borrow up to £8,700 per year in living cost loans (£11,354 in London) if living away from home. The loan is around £1,500 less per year for students living at home.
How much money your child will be given to live on whilst at university will depend on household income. Your household income will be used to determine this if your child is under 25 on the 1st September at the start of their course, unless your child is married, has their own children, or has 3 years of full evidenced financial independence prior to the start of their course. The Tuition Fee Loan is not means-tested so this is not affected by household income.
The loan for living costs (maintenance loan) will not normally cover all of a student's living costs when at university, especially if they select more expensive accommodation. Therefore your child may need to work part time up to 15 or 20 hours per week whilst they are at university in order to make ends meet, unless they have some savings or some other income, or you are able to contribute towards their living cost support.
There is extra funding in the form of non-repayable grants available for students who are also parents and/or students who have an adult with a very low income who is financially dependent on them and/or Disabled students: Parents Learning Allowance, Childcare Grant, Adult Dependents Grant & Disabled Students Allowances - Find out more from gov.uk
Parents' Guide to Student Finance 2018/19
More detailed information on what funding support is available and how this is calculated can be found on the following links: