Part-time Home (UK) student funding for 2018/19 entry
The information below is a broad overview of funding for the 2018/19 academic year. It's important to check out your own funding situation by referring to the official Student Finance web pages.
Student Finance England funding
This information is for students living in England looking to apply for funding from Student Finance England (SFE) in the 2018/19 academic year.
Other funding bodies
You can get information on the funding available for students from Scotland, Northern Ireland and Wales from Student Awards Agency for Scotland, Student Finance Northern Ireland, and Student Finance Wales.
Apply for funding
You can apply for your funding even after your course has begun, but if you want to ensure your funding application is processed before the start of your course so that you have your money on day one, you must submit your application online by Friday 25 May 2018.
See our top tips for making a funding application.
Student funding video guides
Take a look at Student Finance England (SFE)’s video guides for advice and guidance:
Eligibility for funding
If you already have an honours degree, you won't qualify for financial support from SFE.
To qualify, you'll need to register on a designated part-time course that is equivalent to at least 25% of a full-time degree course (30 credits or more), and you'll need to be classified as a Home (UK) or EU resident student. View full eligibility criteria.
Tuition fee support
The tuition fees charged for part-time courses depends on the number of credits you study each academic year.
Tuition fees for most part-time courses are charged on a pro-rata basis, so 50% of a full-time course would cost £4,625 per academic year.
You can apply for a non means-tested loan each year up to cover the full amount of your tuition fees. You can choose to borrow a lesser amount (or none) and pay the difference (or all of your tuition fees) up front each year.
The fee loan is paid directly to the University. Find out how and when you repay your loan.
The maintenance loan
You can apply for a means-tested loan each year for your living expenses, which is paid into your bank account at the beginning of each term.
How much loan you can get depends firstly on your ‘course intensity’. Course intensity measures your course each year compared to an equivalent full-time course. To work this out, you need to know how many module credits you'll study when you apply for the loan. The table below shows the maximum maintenance loan amounts per academic year depending on the intensity of your course, ie the number of credits you're studying per academic year.
How much loan you can get depends secondly on your parents' or partner's household income. This can reduce the living cost loan because it is means-tested based on this income. To work out how much you could get, you need to know whose income and what portion of that income counts.
Students living away from home with a household income (parents'
or partner's) above £25,000 gross taxable income lose £1 of loan
for every complete £8.01 of income above £25,000, until the amount
they receive reaches 46.6% of the maximum amount, at which point
there is no further reduction.
Students living with their parents lose £1 of loan for every complete £8.10 of income above £25,000, until the amount they receive reaches 44% of the maximum amount.
Maximum maintenance loan per academic year
|Intensity of study per academic year||Max maintenance loan for students living away from home||Max maintenance loan for students living with their parents|
|75% (full-time equivalent rate) = 90 credits||£6,525||£5,493|
|66.6% = 80–85 credits||£5,794||£4,878|
|50% = 60–75 credits||£4,350||£3,662|
|33.3% = 40–55 credits||£2,897||£2,439|
|25% = 30–35 credits||£2,175||£1,831|
Other sources of support
You may be eligible to receive a UWE Bursary of £500 per year. Find out whether you're eligible for the UWE Bursary.
You can apply for additional support if you have study-related costs arising from a disability. Disabled Students Allowances (DSAs) are not means-tested.
Student loan repayment
Repaying your student loan
When will I have to start repaying my loan?
If you're a part-time student, you'll become liable to repay your tuition and maintenance loan from the April after your fourth year of study, but only if you’re earning over £25,000.
What if I earn less than £25,000?
If, for any reason, your income falls below £25,000, your repayments will be suspended.
Is interest charged on these loans?
Yes. The maximum interest rate is inflation rate (also known as retail price index) + 3%. Inflation rate is currently 3.1%. This rate is applied during your studies and until the April after you graduate. After your fourth year of study as a part-time student, the interest rate will depend on your graduate earnings. The maximum is inflation rate + 3% and the minimum is inflation rate only.
How much will I be repaying each month?
Repayments will be 9% of income above £25,000, so the amount repaid each month will depend on earnings. For example, someone earning £25,500 would initially make repayments of just £4 per month.
How much will my degree actually cost?
If you study at a course intensity of 50% of the full-time equivalent rate and borrow the maximum fee and maintenance loan for each year of a six-year part-time course, your student loan debt will be £53,850. The interest accrued during your studies will be just over £11,496 (based on an RPI of 3.1%). How much of this student loan debt you'll actually repay – ie how much your degree will cost you – will depend on how much you earn as a graduate in the 30-year period following the April after your fourth year of study.
The table below illustrates how much of your student loan debt you would repay in total over a 30-year period, based on the following income levels. The higher your graduate earnings, the more you repay. The lower your graduate earnings, the less you repay. Any outstanding student loan debt is then completely written off.
|Income||Net monthly income||Monthly repayment||Annual repayment||Total estimated repayment||Repayment ends after|
Is the repayment earnings threshold likely to change?
The government announced that the earnings threshold will be adjusted annually in line with average earnings.
How do I repay these loans?
You'll be liable to repay from the April after your fourth year of study. You'll remain liable to repay for a maximum of 30 years, or until the loan is paid off – whichever comes first. However, you only repay when you earn more than the repayment threshold of £25,000. The repayment rate is 9% of gross earnings (ie before tax and national insurance deductions) above the threshold.
So as an indication, if you earn £26,000, your monthly repayments would be £7.50. Any outstanding debt will be completely written off after 30 years of liability to repay. The debt will not be passed on to anyone in the event of death.