Living Cost (Maintenance) Loans (Undergraduate - Home)
2017 entry: Help from the Government
This goes towards your living and learning costs, is income-related and is paid directly to the student.
The maximum loans available for 2017 entry are shown below:
- £7,097 for students living at home (studying outside London)
- £8,430 for students living away from home (studying outside London)
- £11,002 for students studying in London.
How is the loan amount calculated?
- Not all students will receive the maximum student loan.
- Students are all eligible for a set percentage of the loan, with the remaining proportion dependant on your family income.
- The Student Finance Service will calculate the amount of student loan that you are eligible to receive.
How is the loan paid to the student?
- Loans are usually paid in three instalments - one at the start of each term.
- Student loans for living costs are repaid along with the student loans for fees when you are in employment and earning over £21,000 per year.
- Any outstanding loan balances (except arrears) will be written off after 30 years.