Student Finance - MK College


Student Finance

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As an Undergraduate student, the main expenses you need to think about are tuition fees and living costs. Tuition fees refer to the fee charged by the college or university for your course and are dependent on the qualification you study.

These can be found on the individual course page. Living costs are the associated costs of studying and include expenses such as books, rent and travel. Although higher education may seem expensive, there are lots of funding options available to help you while you are studying.

Tuition Fee Loan

Tuition Fee Loans are available to UK and EU full-time and part-time students from Student Finance England and are only repayable after you graduate and earn over £25,725 a year. This loan is paid directly to the college or university in instalments throughout the year to cover your course fees. Outstanding loans not repaid will be written off after 30 years from when you’re due to start making repayments. Find out more and apply here.

Maintenance Loan

A Maintenance Loan is available from Student Finance England to help with living costs such as rent, food, books, travel and other expenses while you’re studying. The amount available depends on where you live, where you study and your annual household income. You don’t pay it back until after you graduate and earn over £25,725 a year. An extra Maintenance Loan may also be available to individuals that meet certain criteria. Find out more and apply here.

Higher Education Students and Benefits

The information that follows is intended for guidance only. There are strict rules for each benefit regarding eligibility. If you are a full-time student you will not usually be able to claim any other benefits during your course of study, however, you may still be entitled to claim if you:

  • are a lone parent
  • have a disability
  • have a student partner and a child, and it is the summer vacation
  • are a pensioner

If you have a child/children under the age of eighteen (or twenty if they are still in full-time education) you may be able to claim Child Benefit.

For more information on eligibility and funding options, please visit the benefits page on the Government Website.

Non-student partners may be entitled to claim benefits at any time, but the student loan will be taken into account as income.

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