A Dimwits Guide to Student Loans & Grants in England

If your heading off to Uni the you need to work out how you are going to finance your time there. Your need to get your student loan sorted and any other finance you are entitled to.

In the long term going to university can increase your earning potential. But before all that you will have a good while where what little you have will be spend on going out and getting drunk... I mean on important college related resources.

This guide will help you find out what you can get in terms of student loans and grants. It's not flash or complex – it's just the basics direct and to the point. Everything is explained in just a few lines, I know you don't have time to waste on this you just want the facts.

What is available?

This varies from year to year but as by way of example according to DirectGov for those starting a full-time further education course in 2009 to 2010 the maximum entitlement is:

• a Maintenance Grant or Special Support Grant - worth up to £2,906

• a Student Loan for Tuition Fees to cover your fees in full (up to £3,225)

• a Student Loan for Maintenance - worth up to £4,950 if you live away from home, or more if you study in London (though the maximum you can get is reduced if you’re getting help through the Maintenance Grant)

• a bursary from your university or college

List taken from the DirectGov site and is Crown Copyright.

Grants

Grants are free, you don't have to pay them back, like ever! But the downside is they are based on your household income and therefore not everyone will qualify for them. You should check what your options are and how much you are entitled to.

Student Loans

Student Loans need to be paid back, but only after you start earning over a set amount (£15K at the time of writing) once you earn over this amount you will pay 9% of whatever you earn over this amount back, the interest rates are low too.

Student Finance Calculator

DirectGov has a calculator to find out how much in terms of Student Loans and grants you may be entitled to have a look and see what you may be able to get.

Part-time work

Getting a part-time a job is a great way to get a bit of extra cash and ensure you have enough to live on while at University. It can be hard to find a job in this time of economic troubles but it's worth trying out the solar panel and window sales call rooms if all else fails. Also remember you can earn some extra cash writing Hugpage articles as well!