#What #is #a #student #loan
What is a student loan
You may be able to borrow money to help pay for university or college tuition fees and to help with living costs.
You might get extra money on top of this, for example if you’re on a low income, are disabled or have children.
If you’re a continuing student or you’ve already created an account, log in to your account.
Before you apply
You start repaying once you earn over a certain amount. The size of your monthly repayments will depend on how much you earn, not what you owe.
You’ll be charged interest on the loan from the day you take it out. The terms and conditions can change.
The rules are different if your course started before September 2012.
Read the student finance privacy notice to find out how the information you provide will be used.
How to apply
Find out how to apply for student finance.
If you’re under 25, you might be able to apply as an ‘estranged student’ if you either:
- have no contact with your parents
- support yourself
There’s a different process if you’re a student from Scotland, Wales, or Northern Ireland. Contact the education authority if you live in the Channel Islands (Jersey and Guernsey) or Isle of Man.
Part of Get undergraduate student finance: step by step
Step 1 : Check if you’re eligible
There’s a different process if you’re a student from:
Step 2 : Find out how much loan you could get
Find out the maximum tuition fee and maintenance loan you could get if you’re a:
How much maintenance loan you get depends on where you’ll study and your household income.
You’ll have to pay back any loan you get.
and Check if you can get extra help
You might be able to get extra money if you:
You might also be able to get other financial help, for example from your university or the government.
Step 3 : Prepare your application
Step 4 : Apply
You’ll need to create a student finance account if you’re a new student or sign into an existing account if you’re a returning student.
It can take up to 6 weeks to process your application. You might have to provide extra evidence.
Step 5 : Update your details if your circumstances change
You must update your application if your circumstances change. For example if you:
- change your course through clearing
- change where you’re going to live – for example with your parents instead of halls
- Find out how to update your application
Step 6 : Make sure you can be paid
After you register at your university or college you’ll usually get your maintenance loan paid directly into your bank account at the start of each term.
Use your student finance account to:
- update your bank details – for example if you open a student account
- check how much you’ll be paid
- check when you’ll be paid
- Sign in to your student finance account
Step 7 : Check what to do while you’re studying
You’ll need to reapply for student finance for each year of your course.
You must keep your details up to date throughout your course because some changes can affect your loan payments, for example if your household income or bank details change.