A student loan is made up of two parts
A tuition fee loan, which the government pays directly to the university. This covers the costs of teaching and other services such as student support and the library.
Students can also apply for an optional maintenance loan to help support them with the everyday costs of student life. such as accommodation, travel, shopping and socialising with friends. This will be paid directly into your child’s bank account each term.
The amount of maintenance loan you receive will depend on your household income and other factors. Such as whether you will be living at home or in student accommodation. When you apply for your student loan you’ll be asked to provide some evidence of your parent or carers earnings. Such as a P60 form, bank statements or proof that you’re receiving benefits.
* Correct from 30 January 2023