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Parents’ guide to fees and funding

The cost of higher education can seem daunting and you may be concerned about how your family will support your son or daughter through university, as well as the debt they may accrue during their studies.

It is important to remember that, as a UK or EU student, your child won’t need to pay for their tuition fees upfront and will receive a range of other support, potentially in the form of bursaries or scholarships from BU.

International students can also receive financial assistance in the form of scholarships, which can help towards the cost of tuition fees, or other expenses associated with studying in the UK.

Applying for UK/EU student funding

UK and EU students need to apply for their funding - their tuition fee and maintenance loans - through the relevant funding body. There are different funding bodies for England, Wales, Scotland and Northern Ireland, as well as for students from other EU countries.

Regardless of your household income, your son or daughter will receive a Tuition Fee Loan for the full cost of their fees. This also applies to students coming from the EU, but they will not receive a Maintenance Loan as well. 

Although all UK students are eligible for a Maintenance Loan, the amount your child receives will depend on your household income. The first 65% of the Maintenance Loan will be the same regardless of your household income and the remaining 35% is means tested.

The figures below are the amounts for 2019/20 entry.

Where your son or daughter lives and/or studies Maximum Maintenance Loan
Living with your parents £7,529
Studying in London and not living with your parents £11,672
Studying outside London and not living with your parents £8,944
Studying overseas £10,242

It is advisable to apply for student finance as early as possible to ensure your son or daughter receives their loan at the start of the academic year. The deadlines vary each year, so you should check the relevant funding body’s website for specific details.

You can apply for student finance after the deadline, but if you do this there is no guarantee the funds will be available at the start of term.

Repaying student finance

The amount your son or daughter needs to borrow to study at university may seem daunting, but it is important to remember that they do not need to start repaying it until they have graduated and are in a full-time job earning £25,725 or more.

Repayments will be taken directly from their salary, like tax, and the amount they repay each month is based solely on what they earn over £25,725.

Student loans are not taken into consideration when applying for other finance, such as a loan or mortgage.