Laura Whatley
Amy Knight
Tuition fees loans cover the cost of your university studies. However, you may also need to borrow money to help pay for your living expenses while you study, especially if you choose to study away from home and find yourself with rent to pay.
If you need help with these costs, you can apply for a maintenance loan. Here’s what you need to know before you apply.
How student maintenance loans work
These loans are offered alongside tuition fee loans and have the same repayment terms. This means that when you graduate and start paying the loans back you will only make one monthly payment.
The amount of money you can borrow as a maintenance loan varies according to your family’s household income as well as where you live and where you decide to study.
How much can I borrow with a maintenance loan?
The cost of living at university varies significantly across the UK. If you decide to study in London, for example, you’ll find your student digs are likely to be much pricier than taking up residence near a university in Wales, or somewhere in the north of England where housing is cheaper. Similarly you’ll need to borrow more if you are studying a longer course, such as medicine or architecture, than if you’re doing a more typical three-year degree.
How much you can borrow also depends on your household income. For most people that means their parents’ income. The lower your household income, the more you will receive in maintenance loan. Some have argued this is unfair: if your parents are well off, you’ll have to be gifted money by them or make up any shortfall yourself by working or borrowing elsewhere.
How much you can borrow also varies depending on which student finance body you are applying to: Student Finance England, Student Finance Wales, Student Finance Northern Ireland or Student Awards Agency Scotland (SAAS). In some cases, the best way to know exactly how much you’ll get is to apply.
As a guide:
- English students can borrow up to £8,610 for the 2024/25 academic year if they are studying but living at home; for most students, this means with their parents or guardians rather than in student accommodation. You can borrow up to £10,227 for the 2024/25 academic year if you are living away from home but outside London, and up to £13,348 for the 2024/25 academic year away from home in London. If your course involves a year studying abroad, you can borrow up to £11,713 for the 2024/25 academic year.
- Welsh students can receive the same amount of money whether they live at home or away from home, inside or outside of London. What varies is the proportions of the financial support offered in a loan and a grant, which doesn’t have to be repaid. For example, if your household income is less than £18,370 and you’re planning to study in London, you could receive a grant of £10,124 and a maintenance loan of £5,046 for the 2024/25 academic year. If your household income is £59,200 or more the grant falls to £1,000, and the loan is £14,170 for the 2024/25 academic year.
- For the 2024/25 academic year Northern Irish students can apply for the basic student maintenance loan of up to £6,776 if they are studying outside London and not living with their parents, or up to £9,492 if the course is in London. You may also be eligible for a maintenance grant of up to £3,475 depending on your household’s financial circumstances. You may receive slightly less in your final year of study.
- In Scotland, ‘young’ students (if you are under 25 before the start of the academic year) can receive a maximum maintenance loan of £9,400 for the 2024/25 academic year. But, if your household income is above £34,000 a year this drops to £8,400 for the 2024/25 academic year. If your household income is below £34,000 you may also be eligible for a bursary that you don’t have to pay back. It can be worth from £500 up to £2,000 if your household income is £20,999 or less. And the amount you can borrow is not affected by where you decide to study. So if you want to study in London, for example, you will not get more to fund higher living costs.
What will maintenance loans cover?
Unlike tuition-fee loans, which are paid directly to universities or colleges, maintenance loans go into your bank account. That means it is up to you how you spend the money.
You’ll likely use a maintenance loan on your accommodation, primarily, as well as utility bills, food and transport. Also, don’t forget equipment for your course. While tuition fees cover lectures and seminars, they don’t always stretch to books or lab coats. You’ll also need to factor in the cost of a laptop, your phone bill, and any membership to clubs or societies.
You might find that your maintenance loan is not enough to meet all of the above. If so, you’ll have to find the cash elsewhere, through loans or gifts from family, or, as many students do, you may have to work to support your studies, either during term or over the holidays.
You might also end up relying on your overdraft, so make sure you’ve applied for a student account that offers interest-free overdrafts while you study and for at least a year after graduation, when you’ll have to pay them back or face steep interest.
You should also investigate whether you can get extra money via a scholarship or bursary. These can be offered by universities, charities or local trusts, and awarded for financial need or as a result of exceptional academic or other ability. The charity Turn2Us or the Scholarship Hub are useful resources.
How do I apply for a student maintenance loan?
You apply for a maintenance loan with the student finance body in your country: Student Finance England, Student Finance Wales, Student Finance Northern Ireland or Student Awards Agency Scotland. You can do so online. Unless you are an independent student you will also need to provide information about your parents’ or guardians’ household income so that your loan can be means-tested.
You will need to reapply each year to confirm that your circumstances haven’t changed.
When do I repay my maintenance loan?
Loan repayments begin in April, after you finish your course, and when you earn more than the minimum repayment threshold. That threshold is currently £27,295 a year in England and Wales and is set to stay the same for the next academic year. In Scotland, the threshold rose in April 2024 from £27,660 to £31,395.. In Northern Ireland, the repayment threshold is £22,015 a year as of April 2024.
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