Everything You Need to Know About Student Finance


Student finance is a topic that many prospective university students are eager to understand. In this blog, we will provide you with a comprehensive overview of student finance, including information on eligibility, loans, grants, and budgeting. Whether you are applying to universities in England, Wales, Northern Ireland, Scotland, or internationally, this blog will guide you through the intricacies of student finance.

Eligibility for Student Finance

In order to be eligible for student finance in the UK, there are certain criteria that you must meet. These criteria include being a UK national or having been granted resident status through the EU settlement scheme or other means. Additionally, if you have been living in the UK for seven years or more, or if you are under 18 years old, or if you are over 18 years old and have been living in the UK for at least half of your life or 20 years (whichever comes first), you are eligible for student finance. It is important to note that the eligibility criteria can be quite specific, so it is recommended to visit the government website for student finance for detailed information.

Tuition Fee Loan

One of the types of loans offered by student finance is the tuition fee loan. In the UK, university tuition fees are £9,250 per year for all courses. If you are accepted for this loan, the money is paid directly to the university, and you will never see it. The loan is dependent on your confirmed attendance on the course.

Maintenance Loan

The second type of loan offered by student finance is the maintenance loan, which is provided to cover your living costs such as rent and travel. The allocation of this loan can be means-tested or non-means-tested. Means-tested loans take into account your situation, including your parents’ income, to determine if you require government support. It is important to submit your student finance application early to ensure timely processing and avoid any delays in receiving the loan.

Application Process

Student finance applications open around the time you confirm your place at the university. While there is no strict deadline for submitting your application, it is recommended to complete it as early as possible. If you are means-tested, additional information, such as pay slips, may be required. Completing the application by the deadline guarantees that you will receive the money in your account by the start of your course. It is worth noting that the application process can be more complicated for graduate students, so it is advisable to refer to a separate video that delves into the nuances of applying as a graduate.

Course Length and Funding

The duration of your course can impact the funding options available to you. For courses that are one to four years long, the standard tuition fee of £9,250 per year applies. The payment is made directly to the university by student finance. However, for longer NHS-backed courses like medicine or dentistry, the NHS provides a bursary to cover tuition fees in the fifth and sixth years. In terms of living costs, student finance offers maintenance loans to support students throughout their course.

Funding for Different Countries

Student finance schemes vary depending on the country you are applying to. In England, there is Student Finance England; in Wales, there is Student Finance Wales; in Northern Ireland, there is Student Finance Northern Ireland; and in Scotland, there is the Students Award Agency Scotland. Wealthy students who are studying in Wales receive similar funding as English students. Scottish students studying in England or Wales are required to self-fund the first four years of their course, while those studying in Scotland benefit from reduced tuition fees. International students, both from the EU and non-EU, are generally required to self-fund their tuition fees, which can vary depending on the university.

Grants and Bursaries

While student finance no longer offers grants and bursaries, there are other avenues for financial support. For students pursuing courses like medicine, the NHS provides bursaries that are means-tested. Additionally, there are various other grants available for students with disabilities, including travel grants and support for parents or dependents. International applicants are generally not eligible for NHS bursaries. Private grants and bursaries are also an option for unconventional applicants, and there are numerous opportunities available based on different backgrounds and circumstances. A comprehensive list of grants and bursaries can be found at the provided link.


Managing your finances as a student is crucial to avoiding running out of money. Creating a budget is essential to keeping track of your income and expenses. There are various tools available, such as the envelope system, where you allocate a specific amount of cash for each week. Student bank accounts also offer benefits that can assist with budgeting. It is advisable to avoid credit cards if possible, as they can lead to financial difficulties if not managed responsibly.


Understanding student finance is vital for prospective university students. By familiarizing yourself with the eligibility criteria, types of loans, funding options for different courses and countries, and budgeting techniques, you can effectively navigate the complexities of student finance. Remember to refer to the provided links for step-by-step guides and additional resources. Planning ahead and making informed decisions will ensure a smooth financial journey throughout your university experience.

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