Financial help – what's available?
Studying a full-time higher education course? Then you might be entitled to finance from the government to help with tuition fees and living costs. You may also be able to get extra help from your college or university in the form of bursaries and scholarships.

The type of student finance you can apply for as a full-time student depends on when you start your course. The amount you borrow is also dependant on your personal circumstances including household income, disability or learning difficulties and whether you have dependant children or adult.

In some instances you might be able to apply for a non-repayable Maintenance Grant or Special Support Grant as well as bursaries and scholarships from your university or college.

Student loans are issued by Student Finance Direct on behalf of the government. They are not commercial loans and as such carry a much lower interest, which (on a student loan) is charged from the date you receive it to the date you finish repaying it. The interest rate (currently 3.2 per cent) is linked to the rate of inflation, so the amount you repay is the same in real terms as the amount you borrow.

You only begin to repay the loan after you leave your course and are earning more than £15,000 a year (or the monthly or weekly equivalents).

Now for full-time student starting a higher education course in 2006/2007, you can apply for:
- Student Loan for Fees
- Student Loan for Maintenance

Student Loan for Fees
From September 2006, if you're a full-time student, you won't have to pay any tuition fees before or during your studies. Instead, you'll be able to take out a Student Loan for Fees.

New students will be able to borrow up to £3,000 a year in 2006/2007 to cover the full amount of tuition fees. The amount you get does not depend on your financial circumstances.

Student Loan for Maintenance
You can also take out a Student Loan for Maintenance to help with living costs.
The amount you can borrow depends on:
- Your level of income and the income of your household
- Where you study (inside or outside of London)
- Whether you live with your parents during your course

You can get around 75 per cent of the loan regardless of your household income. You can apply for some or all of the remainder depending on your income and the income of your household. Higher loan rates are available if you live away from home or study in London (and live away from home).

The maximum Student Loan for Maintenance rates for new full-time students in 2006/2007 are:

	Living at home	Living away from home outside London	Living away from home in London
Maximum Student Loan for Maintenance	£3,415	£4,405	£6,170

Should you wish to find out more about Student loans, why not visit:

- The Student Loan Company
- Direct.gov

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