Hi everyone my name's Carolyn Lithgo and I'm the Widening, Access and Participation Officer
here at the University of Sunderland. How can I afford to pay my tuition fees? Tuition fees are
essentially your course costs. They pay for your academic study as well as core services related
to students well-being and experience on campus. As long as it's your first higher education course
you can apply for a tuition fee loan to cover the full cost of your course. It is paid directly to
the university or college and you don't have to pay it back until after your course is finished
and you're earning above a certain threshold amount. Usually, your tuition fee loan will cover
the duration of your course plus one additional year in case you take time out and return later
When should I apply for student finance? It can take up to six weeks to process student finance
applications therefore it is important that you apply early even if you have a conditional offer.
Student finance opens its application window around the end of February we recommend that
if your university course has an autumn start date you submit your student finance application before
the 31st of May. This will guarantee that your funding is in place when you start in September.
You don't need a confirmed place to apply and you can always amend or cancel your application later
if your plans change. If you're a late applicant or have applied through clearing you can still
apply for funding up to nine months after the first day of the academic year for your course.
How do student finance pay me my loan? Your tuition fee loan is paid directly
to your course provider by student finance and so you won't see that at all. However,
some students take out a maintenance loan to cover their living costs including accommodation,
travel, and study materials. This is paid directly into the student's bank account
at the start of each term and so there are three instalments per year. So for example,
if your course has an autumn start date you'd receive your first instalment a few
days after enrolling at the university in mid-September. Following that when
you return to uni after the winter break in January you'll be paid your second instalment
and finally, you will be paid your third and final instalment after the spring vacation.
How much will I have to pay back and when? You need to pay back both your tuition fee
loan and your maintenance loan and the repayment amounts are calculated based on how much you earn
not how much you owe. Your student loan repayments begin the April after you leave your course but
only if you were earning over a certain threshold amount. To find out what the threshold is for your
repayment plan please visit the government website. It is also important to note
that how much you repay depends on which plan you are on. Your repayments will automatically
stop if you stop working or if your income goes below the threshold. Interest starts being added
to your loan from when you receive your first payment. It is also worth noting that unlike
loans you don't have to pay back any grants, bursaries or scholarships you may have received.
This is non-repayable funding. Is there any help towards my living costs? In terms of living costs,
some students choose to take out a maintenance loan. A maintenance loan is different from a
tuition fee loan in that the amount you can borrow is based on a couple of different factors.
Your annual household income and where you choose to live while completing your studies.
For example if you live with your parents whilst you're at university the amount of
maintenance loan you will have access to will be less than somebody who has decided to live away
from home in student accommodation. That's even if you have the same annual household income.
If you choose to study at a university in London and live in student accommodation there you will
be able to access a larger maintenance loan to account for the higher cost of living in London.
How can the university help me towards my costs?
Here at the University of Sunderland, we offer a number of scholarships and bursaries.
They range from tuition fee discounts to credit to spend in our Study Plus online store
to actual cash to help you with your living costs. Each bursary or scholarship has their own set of
eligibility criteria and application process. For more information please visit our webpages.