Everyone will be expected to know:
Uni Dosh trainers:
This section deals with student loans from the Government, which are administered by the Student Loans Company. Make sure you know all the figures marked in blue.
The majority of young people that MyBnk work with will be applying for full-time university courses.
IMPORTANT FACTS:
Full-time students can apply for:
New part-time students can apply for a partial tuition fee loan to be paid directly to their university or college, but they are not eligible for living cost loans.
Detailed eligibility criteria for all student loans can be found here. But, in summary, students must be studying for their first undergraduate degree at a UK degree-awarding institution or similar, and be a UK national (or have 'settled' status or be 'ordinarily resident' in the UK). Students must be under the age of 60 to apply for a living cost loan.
When & how to apply
Tuition Loans
The Tuition Loan covers the tuition fees students are charged each year of their course, and is paid directly to their university or college. The amount they get depends on the cost of their tuition fees and not on their household income, but students must generally be studying on their first higher education course to be eligible for this loan. The UK government gives useful advice on how much loan you can expect to receive on https://www.gov.uk/student-finance-calculator
See section on Tuition fees
Full-time student
Full-time
Full-time at a private university or college
Tuition Fee Loan
Up to £9,250
Up to £6,165
Part-time student
(must complete a minimum of 25 per cent
of the equivalent full-time course load per year.)
Part-time
Part-time at a private university or college
Tuition Fee Loan
Up to £6,750
Up to £4,500
Living Cost Loans
All full-time students can also apply for a Living Cost (or Maintenance) Loan to help with their living costs. This is paid into their bank account at the start of each term, once they've registered on their course. The exact amount they can borrow will depend on:
These figures are correct for students starting in September 2018.