Tuition Fee Loans pay for your course at University, the loans are available to most Home students and some EU students. The maximum amount available to full time students is £9,000 per year the figure is up to £6,750 for students studying part time.
These amounts represent the costs of most full and part time courses in the UK. The payment is made directly to your University and covers the cost of the tuition which includes lectures, library and IT access, career advice and other internal services provided at the University. However, the loan will not cover additional costs which you might need to help you with your course such as laptops and course equipment.
As it is a loan you will have to pay back the money however, you will not have to start paying it back until you have graduated from University and earn over 21,000 per year.
Let’s do the Maths! Assuming you are earning 25,000 per year you will only need to pay £30 a month this is calculated as 9% of the amount you borrowed over £21,000. To get an idea of your monthly repayments try using the student finance calculator at https://www.gov.uk/student-finance-calculator.
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