In England, the availability and amount of a student loan depend on your financial situation and the year you commence your studies. The United Kingdom offers various student loan options, with tuition fee loans being particularly popular for covering the costs of attending public or private universities. Students can also apply for Tuition Fee Loans and Maintenance Loans.
You might also like this article: Studies in England.
Conditions for applying for a UK student loan
To be eligible to apply for a student loan in England, you must:
- Be a UK citizen or resident at the time of applying for your studies.
- Have evidence of your residency status in England (Settled Status, Pre-Settled Status—additional evidence will be required, Ukrainian Scheme, or other; for more information, check UKCISA or gov.uk).
- To hold a conditional offer at a university in the United Kingdom.
- Not already hold a bachelor’s or master’s degree from England or Wales, or have permission from Student Finance England to apply for a so-called “second degree.”
- Meet the remaining criteria to receive a Master’s degree*
Government student loans are granted for the duration of your studies (3 years) plus a foundation year (1 year) and an additional year (e.g., in case of repeating a year or undertaking an internship), meaning 5 years in total. The Maintenance Loan is granted together with the Tuition Fee Loan. Important note here: Masters Loan is granted for only one year of master’s studies to cover tuition fees. It is not possible to apply for a maintenance loan during master’s studies.
Applying for a student loan for studies in the UK
Process of applying for a student loan for studying abroad:
- Submitting an application online. Financial contact for students: Student Finance England https://www.gov.uk/student-finance
- Application deadlines:
– By the end of May of the given year to receive tuition funds on time
– Up to 9 months after the start of the academic year
The following necessary documents should be attached to the application, including:
- Payslips for the last 3 months, contract, or P60 – depending on the situation (for individuals aged 25+).
- Certificate of parents’ income or household income (depending on the students personal situation).
- Identification document (such as passport scan) or evidence of residency, e.g., share code.
The decision regarding the approval of a student loan in the UK is issued within 6-8 weeks of submitting the application.
After receiving the decision on the approval of the loan in England, the university will receive the funds to cover tuition fees in 3 installments.
The student receives access to the loan in 3 parts during each academic year.
After each completed year of studies, an application for a loan for the following year of studies must be submitted.
Repayment terms for people starting studies in 2024/25: student loan – Great Britain
- Repayment begins after you graduate or finish your studies and your income exceeds a certain threshold. For the 2024/25 academic year, the earnings threshold for the Tuition Fee Loan is £25,000 per year. For the Masters Loan repayment, the threshold is £21,000 per year. Repayment thresholds for each country are available on the Student Finance England website.
- Repayment involves 9% of your income above the threshold, or 6% above the threshold if we’re talking about a master’s loan. To determine the amount of your threshold, check which plan (Plan 1, 2, 4, or 5) your application falls under.
- Repayment takes the form of monthly deductions that will appear on your payslip in the same way you pay, for example, National Insurance contributions, if you continue to work in the UK after your studies. If you decide to move out and work in another country, Student Finance England determines the earnings threshold for that country, and the student repays the loan once a year based on an annual statement. If you plan to return to your home country or move to another country, remember to inform Student Finance about the changes and stay in contact with them. If they ask for additional documentation confirming the amount of your earnings, it is important to provide such documents. If Student Finance does not receive the correct information, they may increase your monthly installment to even £200/month until they receive a proper explanation.
- After 40 years (counting from the first year of repayment), the remaining loan and interest are forgiven, even if it has not been repaid.
How much is a Student Finance England Tuition Fee loan in England?
Full-time students can receive up to £9,250 a year towards tuition fees. In the case of a maintenance loan, the amount depends on your family income and place of residence.
Check a wide range of fields of study that University studies in the UK offer:
- Medical studies in England
- Law studies in England
- Architecture studies in England
- Art studies in England
- Acting studies in England
- Music studies in England
How to finance your studies in the UK?
The main sources of funding for studies in the UK:
- Scholarships (for international students)
- Private / bank loans
- Student Finance England Tuition Fee Loan (for Home Fees Students)
- Part-time job
- Personal savings and family support
- Crowdfunding, i.e. collecting funds from other people via online platforms
- Local help: office, charity or company.
- Check if your country can grant you a student loan
A student loan in the UK is the only one of its kind in the world
If the repaying person loses their job or is on maternity/paternity leave, the repayment is suspended, but years pass until it is written off.
A loan in England is not inherited. It also has no impact on financial capacity, because with low income you cannot repay another loan.
We encourage you to contact us because we have many years of experience in obtaining student loans. Knowledge of local regulations and procedures allows us to effectively advise our clients. From the moment of submitting the application to its consideration and collection of the loan – we are with our clients at every stage of the process.
You may also find this interesting: University studies in England without a high school diploma
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