Student Loan for Maintenance

• The Student Loan for Maintenance is to help pay for your living costs like food, accommodation and books.
• The amount you can borrow will depend on factors like;

1. your household income
2. where you live while you are studying and
3. how much Maintenance Grant you receive.

• All full-time students can apply for  some Student Loan for Maintenance regardless of their household income (see table below).

• If you are from a lower income household you may be entitled to the maximum amount of the Student Loan for Maintenance which is made up of the above amounts plus an extra amount that is decided depending on your household income.

• If you receive more than £1230 maintenance grant then you will only be eligible for a part of the maintenance loan. Here are the maximum amounts that will be available to you;

• If you receive a Special Support Grant then the amount you can borrow is not affected.
• The loan is paid directly to your bank account in three equal amounts throughout the year.

• You get a smaller loan in your final year, as it only has to cover you until the end of the final term.

• This loan isn’t like normal loans. You will only ever pay back the equivalent amount to what you have borrowed and you will only need to start repaying it once you are earning over £15,000. Even then it will only be 9% of anything you earn over £15,000 per year.

• Find out more about Student Loan Repayment

• To find out how to apply for this loan, go to Applying for Financial Support