Applicants should be able to demonstrate financial hardship. Individual applications are considered carefully and in the strictest of confidence. Student Loans are part of the Government's financial support package for students carrying out a course of higher education in the United Kingdom and are available to help students meet their living costs. It is the student's decision whether to take out a loan and how much to borrow. They can take up to the maximum amount set each year.
Eligible students can borrow money at a rate of interest equal to the rate of inflation.
This means that, although the amount of money they pay back will be higher in cash terms than the amount borrowed, it is of equal value in real terms. You cannot choose which type of loan you can get. Most new entrants will get loans which they repay depending on how much they earn after they graduate or leave their courses. We call these income-contingent loans . They are available for the first time this year.