Student finance explained

Eligibility for student finance

If all of the following apply to you then you are eligible:

• You’re a UK national or have ‘settled status’
• You normally live in England
• You’ve been in the UK for 3 years before starting your course

You may also be eligible in other circumstances too, check on the Student Finance England website.

Extra financial help

You may also be eligible for extra financial help if you are on a low income.

Students with dependents may be eligible for the following help:

• Parents Learning Allowance (means tested) for eligible full-time students with children.
• Childcare Grant (means tested) for students with dependent children. If you qualify, the Childcare Grant could cover as much as 85 per cent of your childcare costs.
• Adult dependants’ Grant (means tested) for full-time higher education students with an adult who is dependant upon them financially.

Students with a learning disability, health problem or disability may be eligible for Disabled Students Allowance (DSA).

What is household income?

Student Finance England (SFE) counts your own taxable income plus any of the following as your household income:

• Your parents  - if you’re under 25 and live with them or depend on them financially
• One of your parents and their partner - if you’re under 25 and live with them or depend on them financially
• Your partner - if you’re over 25 and live with them

You’ll typically need a P60 or tax return for the previous year,  so pre-warn your parent(s) or partner as it can take some time to find them.

If you are under 25 and had no contact with your parents for over a year, you might be able to apply as an ‘estranged student’. 

University Bursaries and Scholarships

You may be able to get extra financial support in the form of bursaries and scholarships. This varies between universities. These do not have to be repaid and are in addition to your loans.

Marjon offers:

• Care Leaver and Estranged Student Bursaries
• University Hardship Fund – for students who encounter unexpected financial emergencies
• Some support for travel and accommodation on placement
• Elite Sports Scholarships

Repaying your loan

You only start to pay back your loans once you are earning a specified amount and after you have left university.

• You won’t have to repay anything until you’re earning over a certain amount, which is currently £25,000 a year
• Your repayments are linked to your income, not what you owe
• If you earn less than £25,000 a year, you won’t have to repay anything
• You’ll repay 9% of your income over £25,000, and deductions will be made from your pay through the HMRC tax system
• Repayments will start the April after you graduate, at the earliest
• Any outstanding loan balance will be written off 40 years after entering repayment

This is called a loan, but there is no obligation to pay it back if you are earning below the repayment threshold.

More info on Student Finance

Student Finance England have produced a in-depth series of films covering everything students need to know about student finance, including what you can get, how to apply, what evidence you might need to send and how you repay.

Find out how the application process works and what you need to do to apply here. To make sure your first payment is ready at the start of term act now - don't wait until you've been offered a place on a course.

The fastest and easiest way to apply for student finance is to apply online. Your parents or partner may need to supply financial information to support your application. If you apply online, they can supply their information online too.

If you have have undertaken any previous HE study please contact our Student Funding Adviser for advice regarding remaining funding eligibility: studentfunding@marjon.ac.uk

For extra information and advice follow the links for details:

• Help with student finance online services
• Eligibility for student finance