The Big Fat Guide to Student Finance 2021

 Student Finance got your head in a spin? Let us put you straight. We'll show you where the money is, how it works, how much you can get and how to get your hands on it.

Are Student Loans really all that bad? Actually, what even is a Student Loan? How will it impact your studies and your future? Is it even worth going to university anymore?

The chat surrounding Student Finance has got a bit out of hand. Get to the facts and you'll find it's all quite straightforward, affordable and accessible!

And facts are what this guide is all about. Yes, Save the Student has campaigned against tuition fees for years, but we're even more passionate about debunking the myths that stop young people following their dreams of going to uni in the UK. 🙂

How to use this guide

You don't have to read everything, or try to digest it all in one go:

• Only got a minute? Get the Student Finance essentials in 30 seconds
• Got 5 minutes? That's enough to get answers to the big questions
• Want it all? Keep reading for juicy details about real costs, hidden funding, and the truth about Student Loans.

Read what you can now and bookmark the page to pick it up later, if you're short of time!

What's in this guide?

• Student Finance in 30 seconds
• Student Finance FAQs
• How to contact Student Finance
• How much does university cost?
• How to pay for university
• Extra sources of funding
• Repaying the Student Loan
• Student Loan small print
• 5 tips for slashing student debt

Student Finance small print varies around the UK. If you're outside of England, see our guides for Scotland, Wales, Northern Ireland, EU countries and other international students. Not a full-time student? Use our guide to part-time Student Finance.

Student Finance in 30 seconds

Credit: ITV Studios

1. Student Finance (funded by the government) allows students from any financial background to go to university.
2. The Student Finance package includes a loan for course fees, plus a means-tested Maintenance Loan or Grant to cover living costs.
3. UK universities can charge up to £9,250 a year in tuition fees, but you'll pay nothing upfront if you're eligible for Student Finance (most students are).
4. You could get extra cash if a health condition, childcare costs or clinical placements leave you out of pocket while studying, or financial support if you're struggling to get by.
5. You or your parents may be expected to chip in for maintenance support (i.e. living costs). You'll need to plan for this!
6. Student Finance has to be paid back, but don't let that put you off! Student Loan repayments work more like a graduate tax, which is far easier to manage after uni.
7. You only make Student Loan repayments once you've left your course AND are earning enough. Repayments vary with your salary, and stop altogether if your income drops too low.
8. Controversially, the Student Loan charges up to 5.6% interest each year until you pay it all back.
9. But crucially, many loans may be written off anyway before they're fully repaid. If you're not a big earner after uni you may only pay back a fraction of what you borrow from Student Finance.
10. For the most part, Student Finance is reserved for UK students, but some exceptions apply.
11. Almost all students can get a bite at funding beyond Student Finance, from bursaries and scholarships to charity and corporate cash.