Student loans to replace maintenance grants
23 July 2015
Further details have been published regarding the announcement in the Summer Budget to replace student maintenance grants with loans for new full-time students in England.
From 1 September 2016 the student finance package will include a Tuition Fee Loan and a Maintenance Loan only.
Changes to the maintenance package will only apply to new students in England. They will not affect students starting courses from September 2015 onwards in the 2015 to 2016 academic year or those who are already at university.
New full-time students starting in September 2016, whose family income is up to £42,620, will be able to apply from January 2016 for maintenance loans. The maximum amount of support will rise by £766 to £8,200 a year (up to £10,702 for those studying in London) and will apply to students with household income of less than £25,000 a year.
Universities and other higher education providers will continue to offer a range of their own grants and bursaries with differing criteria. Students should always check with the institution they are planning to attend and find out what extra help they can provide.
Tuition fee loans for courses starting in September 2016 will remain. Most new full-time students will not have to pay up front, and graduates only have to repay their loans when they are earning above £21,000.