Recent Financial Changes For University Students

At the beginning of November, the Education Secretary announced that from 2025/2026, universities in England will be able to charge up to £9,535 to undergraduate students who are accessing a full time course. An undergraduate student is an individual who is studying for their first level of higher education qualification. Undergraduate studies provide foundational knowledge in a chosen field and usually lasts on average, three to four years. Additionally, student maintenance loans will be going up by 3.1%. These loans are a type of financial support provided by the government to help cover living expenses for eligible students while they are studying. Unlike tuition fee loans which go directly to the university to pay for the cost of courses, maintenance loans are paid to the student with the intention of helping with day to day expenses like rent, food, travel and study materials. The amount a student can receive depends on several factors including household income, where they live and the length of their course. Generally, those students from lower income households are eligible for higher loan amounts.

To enable those students up to the age of sixty to get access for up to four years of flexible student finance, worth £37,000 in current tuition fees! It has been stated that the new Lifelong Loan Entitlement will also come into force in 2025. It is hoped that these new loans will help individuals balance training or their studies with certain commitments that they have such as childcare arrangements.

Tuition fees are also rising by 3.1%, applying to undergraduates from anywhere in the UK who are starting a course in England but of course, these types of loans will not affect many first time students unless they are so financially well off that they do not need to apply for one. A tuition fee loan covers the cost of the fees charged by your university or college, usually being paid in three installments.

Tuition fee loans, maintenance loans and postgraduate loans have to be paid back but other student finance may not need to be repaid, such as various grants and bursaries.

Tuition fees and maintenance loans do differ depending on where you will be studying and where your home address is and it can all seem rather confusing at first when you are choosing where to study. However, it need not be daunting as all the information you need regarding student finance is on the government website along with fees and funding information on university's websites.