How Much Money Will I Get for Studying at a UK University?

Studying at a UK university is an exciting and transformative experience, but it also comes with its fair share of financial challenges. Most students rely on student finance to help cover the costs of tuition fees, living expenses, and other essentials. So, how much money can you expect to receive from Student Finance England (SFE) if you’re enrolling in a bachelor’s degree course?

In this post, we’ll break down the various types of funding available to UK students, including loans, grants, and allowances. We’ll also show you how to maximise your financial support to ensure you get the most help possible.

1. Tuition Fee Loan

The tuition fee loan is the most basic form of student funding. For students attending a UK university, SFE can offer a loan to cover your tuition fees. This loan is paid directly to your university, and it’s available regardless of your household income.

• Maximum available: £9,250 per year for most UK universities.

• Repayment: You won’t need to pay this back until you’re earning above a certain income threshold (currently £25,000 per year). The loan is then repaid as a percentage of your income.

2. Maintenance Loan

The maintenance loan is designed to help with living costs, such as accommodation, food, transport, and study materials. The amount you can receive depends on factors like your household income, where you’ll be studying (whether at home or away), and whether you’re studying in London or elsewhere.

• Maximum available:

• Studying away from home (outside London): £9,978 per year.

• Studying away from home (in London): £12,667 per year.

• Studying at home: £7,631 per year.

Note that the amount you receive will be adjusted based on your household income.

• Repayment: Like the tuition fee loan, the maintenance loan is repaid after you start earning above £27,295 per year.

3. Childcare Grant

For students with children, the Childcare Grant provides extra financial support to help with the costs of registered childcare. This can be a crucial benefit for parents balancing their studies and childcare responsibilities.

·       Maximum available: Up to £179.60 per week (for one child) or up to £304.60 per week (for two or more children).

·       Eligibility: The childcare must be provided by an approved provider and you must meet other conditions, such as being a full-time student.

·       Repayment: This grant does not need to be repaid.

4. Parents’ Learning Allowance

The Parents' Learning Allowance is aimed at students who have dependent children. It helps with the costs associated with studying, such as study materials, travel, and other related expenses. The amount of the allowance depends on your household income.

·       Maximum available: £1,863 per year.

·       Eligibility: The allowance is available if you’re a full-time student and have dependent children.

·       Repayment: This is a grant that does not need to be repaid.

5. Adult Dependant’s Grant

The Adult Dependant’s Grant is available to students who have an adult (such as a partner or other family member) who is financially dependent on them. If you’re supporting a partner or adult relative while you study, this grant can help.

·       Maximum available: £3,007 per year.

·       Eligibility: You must have an adult dependant living with you, and they must rely on your income for support.

·       Repayment: Like other grants, this does not need to be repaid.

6. Bursaries and Scholarships

In addition to the main funding sources outlined above, many universities offer bursaries and scholarships to help with tuition fees and living costs. These may be based on factors like your academic performance, financial need, or specific circumstances such as being a care leaver.

·       Maximum available: Bursaries and scholarships vary by university, but they can range from a few hundred pounds to several thousand per year.

·       Repayment: Bursaries and scholarships do not need to be repaid.

Total Estimated Funding Available

When combining all of the above, here’s an estimate of the maximum amount of funding you could receive in total during a year of study:

• Tuition Fee Loan: £9,250

• Maintenance Loan: £9,978 (outside London) or £12,667 (in London)

• Childcare Grant: £179.60 per week (for one child)

• Parents’ Learning Allowance: £1,863

• Adult Dependant’s Grant: £3,007

• Bursaries and Scholarships: Variable (up to several thousand pounds)

For a student living outside London with no children or dependants, the total could reach around £25,0000 per year. For students in London with dependants, this could increase substantially, particularly with the childcare grant and other allowances.

A Range to Consider

To summarise, the total amount of financial support you can receive as a full-time student in the UK varies, but generally ranges from:

• £13,000 - £25,000 per year depending on factors such as location, household income, and whether you are eligible for additional grants.

Maximising Your Funding with Maverick Education Group

At Maverick Education Group, we understand that securing the maximum amount of funding is crucial to your academic success and overall student experience. Our team is dedicated to helping you navigate the complex world of student finance. We place high emphasis on ensuring you are aware of all the funding opportunities available and assist you with the application process to ensure you receive the maximum amount of financial support possible.

If you’re planning to study at a UK university, let us help you secure the funding you need. Get in touch today to discuss your options, and let us guide you on the path to achieving your academic goals without the financial stress.

By understanding the financial support options available to you and taking steps to maximise your funding, studying in the UK can be more affordable than you think.