Student Finance for new 19/20 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://media.slc.co.uk/sfe/1920/ft/sfe_how_you_are_assessed_and_paid_guide_1920_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 £7529
- Living away from parental home in Plymouth £8944
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 £8882
- Living away from parental home in Plymouth £10,194
*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 £1716
Adult Dependents Grant up to a maximum of £3007
Childcare grant up to £169.31 a week for 1 child or £290.27 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 are overpaid or 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 the new fee charge of up to £9250, whilst students who started their course prior to this will remain on the existing maximum fee of £9000.
*This funding is repayable