Your child will typically pay up to £9,250 per year in tuition fees as a UK university student, fees do not need to be paid upfront. Most students will take out a student loan and this is paid directly to universities by Student Finance England.
The second loan students can apply for is the maintenance loan. This is designed to help towards living expenses while at university, such as accommodation, food, and course materials. The amount they’re eligible to borrow depends on several factors, including where they will be studying and their household income.
Importantly, this isn’t based on how much your child has borrowed, but instead on how much they earn. Currently, the earnings threshold - the amount you earn before you start paying anything back - is set at £26,575 per year, for English and Welsh undergraduate students, and £18,935 for Scottish and Northern Irish students. This is the point at which they’ll begin to pay back 9% of what they’re earning over the threshold.
These are offered on the basis of academic ability, special circumstances or sporting talent. Each university will have its own set of scholarships and bursaries, so it’s worth checking individual sites. Please visit our Scholarships page for further information on what Liverpool Hope offers.
‘Means-tested’ means that your child’s loan will be calculated depending on their household income. This works on a sliding scale, meaning that students from lower income households will receive a higher maintenance loan.
'Household income' refers to what you (and where relevant, your partner whom you live with) earn annually. This information is not shared with any other parties.
No - it is the responsibility of your child to pay back their student loan, once they earn over the repayment threshold.
Once your child has submitted their application for student finance, within 24 hours you will receive an email prompting you to submit your household income details.
If you don’t already have an account, you will need to create one. You will need to supply your National Insurance number and your personal income for the previous tax year. You should only give Student Finance England your details – if you live with a partner, they’ll ask for their details separately.
This will be checked against HMRC’s records. If the information does not match, you may be asked to provide further evidence. You should send Student Finance England copies of any financial documents they ask for – they’ll destroy these securely once they’ve checked them.