Student Finance 2018/19

Student Finance for new 18/19 students

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 guides from Student Finance England: http://www.practitioners.slc.co.uk/media/1617/sfe_how_you_are_assessed_and_paid_guide_1819_o.pdf

In general, students that normally live in England and that are on an ordinary undergraduate degree can expect to get the following funding:

Maintenance Loan

The maximum amounts are as follows: -

  • Living at home with parents in Plymouth          £7324
  • Living away from parental home in Plymouth   £8700

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 have just left home it will be based on your parent's income. *This funding is repayable

Special Support Element

If you were in receipt of means tested benefit, have a disability, or are a single parent when you start University, then part of your Maintenance Loan is called a Special Support Element.

It is important to make sure you claim this if you are entitled to it, as you will receive a larger overall maintenance payment and £3593 of your loan amount does not count as income for the purposes of claiming legacy means tested benefits, such as Housing Benefit but is counted as income if you are claiming Universal Credit.

The maximum amounts including a special support element are: -

  • Living at home with parents in Plymouth          £8640
  • Living away from parental home in Plymouth   £9916

 *This funding is repayable

Other Funding
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 £1669   

Adult Dependents Grant up to a maximum of £2925

Childcare grant up to £164.70 a week for 1 child or £282.36 a week for 2 or more children.

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. SFE produce the Dependants Grants Calculations form more information on how grants for dependants are calculated.

*This is non-repayable unless you’re overpaid or leave your course early

 

Tuition Fee Loan

This is a loan paid directly to the university in three instalments. Students starting 2018-2019 are subject to the new fee charge of up to £9250, whilst students who started prior to this will remain on the existing maximum fee of £9000.

*This funding is repayable