The Aspire Guide - Flipbook - Page 18
Student Finance - The Extended Guide
We’ve already seen that going to university can be beneficial in lots of ways, but how much will it cost
and how can you afford it? It’s important to do your research - it can be surprising how much money
you could access! The Student Finance arrangements differ according to individual circumstances and
are subject to change. The below information is intended only as a general guide for courses starting in
2022/23, so it’s worth checking the latest situation and how it applies to you online.
Tuition fees:
In general, English and Welsh universities charge tuition fees of £9,250 per year. But do not let this put
you off, you can get a student loan where the government will pay this directly to the university. You will
then pay it back slowly over a long period of time based on your salary. Scottish students who attend
Scottish universities don’t have tuition fees, while those in Northern Ireland pay a reduced rate if they
study locally.
Living costs:
Living costs are usually covered by a Maintenance Loan, which is means-tested depending on your
parents’ income. This will cover your accommodation, travel, groceries, entertainment and everything
else that you might have to spend money on while at university. Turn to page 22 to check out our money
diary and see how a real university student spent their cash for a week!
What am I eligible for?
All UK students studying in the UK are eligible for a Maintenance Loan, but how much you get will differ.
The table below summarises how much you can expect.8
As the Loan differs according to your parents’ income, some people will receive more financial support than
others. While some students receive money from their parents to make up the shortfall, many students
instead support their studies through getting a part-time job alongside university. Most universities will
even have jobs on campus, which are mindful of students’ study responsibilities and can be flexible with
hours you’re expected to work depending on the time of year.
Household Income
Living at home
Away from Home
(outside London)
Away from Home
(London)
25k or less
£8,171
£9,706
£12,667
£30,000
£7,484
£9,012
£11,961
£35,000
£6,796
£8,318
£11,255
£40,000
£6,108
£7,623
£10,549
£45,000
£5,420
£6,929
£9,843
£50,000
£4,733
£6,234
£9,136
£55,000
£4,045
£5,540
£8,430
£58,220
£3,602
£5,093
£7,975
£60,000
£3,597
£4,845
£7,724
£62,286
£3,597
£4,528
£7,401
£65,000
£3,597
£4,524
£7,018
£70,000
£3,597
£4,524
£6,312
£70,004+
£3,597
£4,524
£6,311
The information provided about student finance entitlements is for illustrative purposes only. No reliance
on this information should be taken. For the most up-to-date information go to the Student Finance
Calculator to check your Maintenance Loan.
18
