The world of student finance can be confusing, with loans, grants, bursaries and scholarships to come to terms with. As a parent or guardian you play a vital role in securing the correct level of financial support for your child, so it is crucial that you are aware of the different funding options that are available.
Student finance is offered through Student Finance England and can be applied for online through their website www.direct.gov.uk/studentfinance.
As a parent or guardian you have your own section to complete that requires you to know your child’s login details. It is therefore advisable that you sit down together to complete the form.
When filling out the various sections you may come across the following terms:
- Tuition fee loan – all students can apply for a tuition fee loan for the full cost of their course.
- Maintenance loan – used to cover the living costs such as rent, food and books.
- Maintenance grants – also cover living costs but unlike maintenance loans they don’t have to be paid back.
- Special Support Grants – may be available to certain students, e.g. single parents and students with a disability. You don’t have to pay them back.
- Scholarships and bursaries – may be available to certain students, e.g. those from low-income families. You don’t have to pay them back.
More information regarding budgeting can be found here.
You can also learn more about Student Finance by watching the following UCAS video