The Cost of Higher Education
Most higher education courses charge a tuition fee, which is money that the university or college use to provide teaching, facilities and student support. The maximum fee an institution can charge is currently £9250 per annum, although this figure is fixed until 2024/2025 it could rise in subsequent years – course fees are dependent on the course type and institution, so it is important to check with each course you are considering.
Higher Apprenticeships and Degree Apprenticeships do not charge a tuition fee as this is met by the government and the training provider. Apprenticeships also pay students a wage while they are completing the course.
Student Finance
There is support available to help with the costs associated with studying. We have broken down what you may be entitled to below:
| Tuition Fee Loan | This is a loan to cover the cost of tuition and it is paid directly to the university or college you will be studying at. All students are eligible for the full amount of loan to cover their tuition fees should they chose to accept, meaning there is no requirement to pay any money upfront. |
| Maintenance Loan | This loan is to cover the living costs associated with studying. This is a means tested loan, therefore the amount you receive will depend on your household income and factors such as whether you live at home or move out to live independently. |
| Additional Support | If you meet certain criteria, you can apply for additional financial support: Disabled Students Allowance Support for students with caring responsibilities or financial dependents Scholarships or bursaries directly from universities and colleges (ask them for details of their support) |
Applying to Student Finance
You need to apply for student finance by completing an online form which will ask you for details of what you will study, where you will study, your household income, and details of anyone who depends on you financially.
If you live with your parent/carer then they will need to provide details of their income, so that Student Finance England can work out how much financial support you are eligible for.
Repayment
The thought of repaying money can be daunting, but it is important to understand how the repayment system works. Repayments are based on what you earn, not what you owe.
For courses starting in September 2023 onwards
- Repayments are 9% of any income over £25,000
- Repayments will be taken for 40 years
For example, if someone earns £26,000 per year, they will make student loan repayments at a rate of 9% of the £1,000 they earn above the threshold. This means they will repay £90 per year, or £7.50 per month.
Scholarship Opportunities
A scholarship is typically money which you are awarded for something you have achieved, for example, playing a sport or achieving academic success. Sometimes you can receive a scholarship based on your personal circumstances. You don’t have to pay this money back.
| Provider | Eligibility Criteria |
| BAFTA | – Undergraduate or postgraduate students studying an eligible course in the UK – British citizens – Any age Full details are here. |
| Unite Foundation | – 25 or under – Care experienced – Starting/studying first undergraduate degree – Studying at a Unite partner university Full details are here. |
| Janus Henderson | – Starting an undergraduate degree at a UK university – Interested in a career in finance – Always attended a non-fee paying school or college Full details are here. |
| UK Government Armed Forces Bereavement Scholarship | – Students who have lost a parent during service in the UK Armed Forces Full details are here. |
| UK Electronics and Skills Foundation | – Undergraduate students studying an accredited undergraduate degree which contains ‘a substantial amount of electronics’ – Home registered – Not in receipt of another scholarship funded by a commercial organisation Full details are here. |
Many universities offer in-house scholarships. Search ‘[university name] scholarships’ to see what is on offer at the universities you are interested in.
