How to Apply for Student Finance
Academic Education always provides its students with full guidance on “How to apply for student Finance“. Students are maybe able to borrow money to help pay for university or college tuition fees and to help with living costs. You might get extra money as in (Maintainance loan ) on top of this, for example, if you’re on a low income, are disabled or have children.
Some student finance applications are granted only with the tuition fees, some are granted with living costs along with the tuition fees to eligible candidates. And full free studentships are also available in the United Kingdom. But the finances are granted based on the eligibility of the students.
All the students need to start repaying once they earn over a certain amount. The size of a student’s monthly repayments will depend on how much they earn, not what students owe. Students will be charged interest on the loan from the day they take it out. The terms and conditions can change by Student Finance England.
Who is eligible?
Learn More about How to apply for Student Finance here, For student financing in the United Kingdom, eligibility of the candidates is assessed based on the following criteria:
- Candidate’s nationality or residential status
- Candidate’s previous study background
- The university he/she is going to attend
- Age of the candidate
- The course he/she is going to apply for.
University and course will be cross-checked by the granters before granting the student finance. Students usually get finance if they are doing their first higher education qualification although they might have completed a self-funded course before. Under certain circumstances and for some specific courses they may still be eligible for funding which may be limited. If the students stop their course within the first year, they will get funding for the same course or a new course when they go back. They might also get funding if they
- suspend their course or withdraw before it is finished and they are going back to study any course.
- And they are repeating their courses for a year at the same university or institution.
If someone stops studying for a valid personal reason (for example, sickness), he/she might get funds for all of his/her courses under the condition of submitting supporting evidence online.
Students who are aged above 60 on the 1st day of the academic year of their course and studying full time may get limited funding for maintenance loans.
How to apply for Student Finance as in Full-Time Student?
A new full-time student can apply for a Tuition Fee Loan and Maintenance Loan if their course starts on or after 1st August of 2016.
Tuition Fee Loan:
Your university or college sets your tuition fee, and the loan is paid directly to them. You have to pay it back.
|Full-time student||2019 to 2020 academic year||2020 to 2021 academic year|
|Full-time||Up to £9,250||Up to £9,250|
If a student studying an accelerated degree course, they could get up to £11,100.
Maintenance Loan for living costs
You may have to give details of your household income.
The loan is paid directly into your bank account at the start of each term. You have to pay the loan back.
|Full-time student||2019 to 2020 academic year||2020 to 2021 academic year|
|Living at home||Up to £7,529||Up to £7,747|
|Living away from home, outside London||Up to £8,944||Up to £9,203|
|Living away from home, in London||Up to £11,672||Up to £12,010|
|You spend a year of a UK course studying abroad||Up to £10,242||Up to £10,539|
Special Note: If you’re 60 or over on the first day of the first academic year of your course you can apply for up to £3,893.
How to Apply for Student Finance?
The applying process for student finance in England depends on the academic background of the students and their nationality. The procedure is different for the students according to their history.
Steps to Follow by the new students in England
- Both part-time and full-time students can apply for student finance in England.
- At first, the student has to create an online student finance account of his/her own.
- Then login into the account they have to complete the process of online application.
- If necessary, one can add the household income. The student’s partner or parent will be asked for confirming these details as the information will be used for working out on them so that the candidate student may get extra money along with their tuition fees loan and basic maintenance loan.
The information will include the following:
- Household’s taxable income of the previous tax year.
- Personal taxable income of the previous tax year.
For example: if you are applying for 2020 to 2021 academic year the previous tax year will be: 2018 to 2019.
Partner’s income will be the combined income of the student and his/her partner. Parent’s income will be the combined income of the student, his/her parents (both father and mother, if they live together and even if they were not living together during the previous tax year) and student’s own savings, property or investments e.g. rent or dividends.
- Once the student has applied, will be notified within 24 hours via an email You will need to send in evidence only if you are asked to send the evidence.
- If the income of this tax year is at least 15% less then students can provide their current tax year income.
- HMRC (HM Revenue and customs) verifies the information provided by the students to them.
- Evidence of income and marital status might be asked to provide.
- It needs nearly 6 weeks for reviewing the evidence.
- After confirming all the information Student Finance England will simply write to the candidates.
- Based on the eligibility of the students they will get basic maintenance loan as well as tuition fee loan even if their information is still being processed.
- Students need to apply for finance each year.
- After applying students will get an email within 24 hours that will contain a link in its body. The link will redirect to sign in to the student’s account where the candidate student must provide any changes to the information, marital status, financial information for the previous tax year.
- Students have to send proof of identity, if indeed. Students who are getting trouble with the online application procedure may use ‘form finder’ to get necessary forms. Even they can call Student Finance England to apply online if they face any issues or cannot understand the procedure without help.
Finally, Students have to send proof of identity, if indeed. Students who are getting trouble with the online application procedure may use ‘form finder’ to get necessary forms. Even they can call Student Finance England to apply online if they face any issues or cannot understand the procedure without help.
How to Apply for Student Finance (Maintenance Loan)
Maintenance loans will be granted for those students who’s eligible with the following criteria:
- a first degree, for example, BA, BSc or BEd
- an Initial Teacher Training course (if it’s degree level or above)
- an integrated master’s degree
- a Foundation Degree in dental hygiene and dental therapy
- a DipHE in dental hygiene and dental therapy or operating department practice
Maintenance Grant for living costs:
Students have to give details of your household income and their course start date.
The grant is paid into the student’s bank account at the start of each term. Students do not have to pay it back, but any funds they get will reduce the Maintenance Loan you can get. learn more about how to apply for student finance here.
Special Support Grant
You may get a Special Support Grant instead of a Maintenance Grant if you get or qualify for:
- Income Support
- income-related Employment and Support Allowance
- Housing Benefit
- the housing element of Universal Credit
The amount you get is the same as the Maintenance Grant, but it will not reduce the Maintenance Loan you can get.
You may get the Special Support Grant if, for example, you’re a lone parent or have certain disabilities.
You’ll be told if you can get the grant when you apply for student finance.
Still, Have Any Questions on Mind?
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