Student finance deadline date 2018/19 – when to apply for student loans for the next academic year
If you are starting university this year here is everything you need to know about how to get a student loan.
STARTING university can be scary enough without knowing how you are going to fund your studying.
Here is how to make sure you get you the money you need for the next academic year.
When is the student finance deadline for 2018/2019?
If your course starts between August 1 or December 31 then you need to apply by May 31.
And if you start studying anywhere from January 1 2019 to March 31 2019 then you must apply by September 30.
You don't need a confirmed place at a university to apply for student finance.
Don't worry too much if you miss these deadlines as you can still apply for the first nine months after you start your course, but you will have to pay for course fees and living costs yourself while you wait for your money to arrive.
How do I apply for student finance?
If you are a new student from England you can apply for student finance online at .
New students from , and have a different application process.
If you would rather apply by post you can and send them off that way.
To apply you will need a valid UK passport and you will need to know your household income.
When you apply for student finance you can choose to apply for two different loans, a tuition fees loan and a maintenance loan.
Tuition fees loans cover your course fees which is the cost of your lectures plus access to university facilities and is paid straight to the university. Whereas maintenance loans are paid straight to your bank account and can be used to cover whatever you like. (probably best to stick with food, getting a roof over your head and the odd beer.)
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How much will my tuition fees cost?
No matter where you study in UK, if you are from England you will pay up to £9,250 for your tuition fees.
Scottish students study for free in Scotland, will pay up to £9,000 in wales and up to £9,250 everywhere else.
Welsh students pay up to £9,000 in Wales and up to £9,250 in the rest of the UK.
Northern Irish students pay up to £4,160 in Northern Ireland, up to £9,000 in Wales and up to £9,250 anywhere else in the UK.
It is a lot of money to be paying every year no matter where you study.
You can make the most out of your tuition fees by using student services like career advice services and any connections your university has with local businesses and charities to get you on the career ladder faster.
How much maintenance loan will I receive?
How large or small your maintenance loan will be depends on several factors including household income, if you are living at home, any disabilities you may have and if you have children or if you have an adult who is financially dependent on you.
The government has an you can use to see how much you are entitled to.
Based on the average UK household income from 2017, if your tuition fees cost £9250 and you are studying outside of London and not living at home you can expect to get a maintenance loan of £8,185.
The maximum amount you can receive is £11,354, but that is only available if you are studying in London and not living at home.
Your student loan arrives in three payments every year, in September when you start your course, in January and in April.
The largest payment comes in April as that money is supposed to tie you over the summer holidays as well as your living costs during the term.
Is there extra help available if I need more money?
If your course is longer than the regular 30 weeks then you can apply for an additional maintenance loan.
The amount you receive is decided on a case by case basis.
You are also entitled to extra money if you meet any of these qualifications:
- Single parents with a child under 20
- A married couple both in education with a child under 20
- Have a disability
- Qualify for housing benefit
- Have been incapable of working for 28 weeks
- Have been certified as being ill or had a caring responsibility
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