University Costs Explained
Student Fees
They are annual fees charges by the University
They cover the cost of your course
If you are a British Citizen, you will pay up to £9,250
Student loans cover the fees for studying and your cost of living.
It is split into:
Tuition Fees, and a Maintenance Loan
Maintenance Loans are paid on a sliding scale depending on your needs. It is means tested on your parents household income.
It easy!
You apply for both your tuition fees and maintenance loan together on student finance.
Here is a helpful guide on how to apply.
It’s only repayable once you start earning over a certain threshold.
Most people never actually pay off the full loan amount.
Its like a graduate tax, with higher earners paying back more over time. Any outstanding loan amounts are written off after 40 years.
This helps cover the cost of living. It is calculated dependent on your parent/carer's income. Look for more information here
Grant Support
Bursaries, Grants and Scholarships
There are lots of reasons you can be eligible for free money whilst studying. Its always worth checking what you could apply for. Watch the video for more information
Average Student Budget
Incomings
Source Frequency Average amount Maintenance Loan Yearly £11,000 = £916 a month Part time job wage Monthly £1,154 Monthly total £2,070
Outgoings
| Source | Frequency | Average amount |
| Rent | Monthly | £860 |
| Travel | Monthly | £43 |
| Bills (Energy, Internet, subscriptions) *Students are exempt from Council Tax | Monthly | £100-150 (dependent on house sharing arrangements) |
| Groceries | Monthly | £100 |
| Social life/hobbies | Weekly | £150 |
| Monthly total | £1753 |
Student Budget Tips
Student Bank Accounts
Compare different student bank accounts and their benefits
Travel smart
Save 30% on the adult rate by buying a student oyster card
Shop Discounts
There are plenty of high street discounts by using one of these apps when you are a student. Download them today.
