Student Finance England Everything you need to know

Undergraduate funding

Tuition fee loans

If you are studying an undergraduate course, you may be entitled to a Tuition Fee Loan which will cover the cost of your course. This loan will be paid directly to the University.

The cost of your Programme can be found on the University of Derby website on the course page. This will be expected to be paid back once you finish the course. However, the amount you pay is based on how much you earn.

Currently the UK repayment threshold is £27,295 a year, £2,274 a month, or £524 a week.

The amount will be calculated and taken from your account automatically. After 30 years of leaving your course, the outstanding balance will be cancelled even if you have not repaid any of it.

Eligibility

  • You normally work/live in England
  • You've lived in the UK, the Channel Islands or the Isle of Man for three years before starting your course
  • You're a UK national or Irish Citizen, settled under the EU Settlement Scheme or granted indefinite leave to remain

And…

  • You haven't previously studied and obtained a certificate at undergraduate level

You can find more information about tuition fee loans on the UCAS website.

Maintenance Loan

Everyone eligible for student finance will be eligible for some maintenance loan but the amount will be dependent on your household income.

The maintenance loan can help with overall living costs, including rent, food, travel and other expenses.

It will be paid into your account in three instalments, usually at the start of each term.

The maintenance loan will be expected to be paid back but not until you've left the course and are earning over the threshold.

How to apply

  • You will need to set up a student finance account where you'll be given a Customer Reference Number.
  • To apply for the first time, you will need to provide proof of identity, such as a valid UK passport.
  • Finally, yourself or your parents may be asked to provide evidence to support your application. If you have had no contact with your parents for over a year, you may be able to apply as an 'independent student'.

How many years of funding you are entitled to

The general rule is that the Tuition fee loan is available for the full length of your course, plus one extra year if needed. For example, the extra year may be needed if you change your course or need to repeat a year.

The number of years for which you are eligible for funding is usually calculated as

length of current course + one year - years of previous study
.

 

If you have faced extenuating circumstances which has resulted in you having to repeat a year of study, you can apply for the extra funding through the compelling personal reasons route.

If you require support applying for an extra year of funding through compelling personal reasons, a Union advisor can offer support and guidance.

Postgraduate funding

Postgraduate loan

The Postgraduate Masters loan will be paid directly towards you and will help with both your course costs and the living costs.

The amount you can apply for will depend on when your course starts.

The payments will be spread out across all of the academic years of your course, with 3 instalments per academic year. This is applicable to both part time students and full time students.

You will have to pay back any Postgraduate Master's Loan you borrow.

Eligibility

  • You normally work/live in England
  • You've been in the UK, the Channel Islands or the Isle of Man for three years before starting your course
  • You're a UK national or Irish Citizen, settled under the EU Settlement Scheme or granted indefinite leave to remain

And..

  • Under the age of 60 on the first day of the first academic year of your course
  • Haven't previously obtained a Postgraduate qualification

How to apply

  1. You will need to set up a student finance account where you'll be given a Customer Reference Number.
  2. To apply for the first time, you will need to provide proof of identity, such as a valid UK passport. You will be asked how much Postgraduate Masters Loan you want. You must apply no more than nine months after the first day of the final academic year of your course.
  3. Finally, you may be asked to provide evidence to support your application.