This information applies to new students starting in 2023/24. The rules about student finance are complicated, so if your situation is a little bit different or you need more information on entitlement it may benefit you to look at the following guide from Student Finance England: 23/24
In general, students who normally live in England and who are on an ordinary undergraduate degree course can expect to get the following funding:
The 2023/24 amounts are as follows:
- Living at home with parents, studying in Plymouth maximum loan £8400
- Living away from parental home, studying in Plymouth maximum loan £9978
You may get more or less money than your friend. This is because part of your Maintenance Loan is based on your household income. If you are under 25, it will usually be based on your parent(s) household income.
*This funding is repayable following completion of your course when your earnings reach the applicable income threshold, which you can read more about under section 5 of this document.
Special Support Element
Certain students, including single parents, those in receipt of means tested welfare benefits or those with a disability, receive the Special Support Element as part of the Maintenance Loan. In 23/24 the Special Support Element is £4221 and is disregarded as income for the purposes of claiming means tested legacy benefits, such as Housing Benefit, or Universal Credit.
In addition, these students receive a higher rate of Maintenance Loan.
The maximum amounts, including the Special Support Element are: -
- Living at home with parents £9,910
- Living away from parental home £11,374
If you have children, you have a disability or another adult depends on you financially, then there may be more funding available to you from Student Finance
This funding can include:
Parents Learning Allowance up to maximum of £1915
Adult Dependents Grant up to a maximum of £3354
Childcare grant up to 85% of your costs up to a maximum of £188.90 a week for 1 child or £323.85 a week for 2 or more children (whichever amount is lower).
This funding is means tested and the rules differ depending on when you started university. You may be eligible for some or all of the elements, and the amounts you receive could be much lower than the maximum amounts.
*This is non-repayable unless you are overpaid or you leave your course early
Tuition Fee Loan*
This is a loan paid directly to the university in three instalments. Students starting after 2018 are subject to a fee charge of up to £9,250 whilst students who started their course prior to this will remain on a maximum fee of £9000.
*This funding is repayable
Student Finance have produced this helpful video on how to apply for finance
Last updated: March 2023