Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

The MoneySaving Forum: join to chat & swap tips with other MoneySavers. Learn how in the Forum Introduction Guide

Free Mature Student Guide

Student Finance 2015 - how it works

The radical overhaul to English student finance in 2012 caused myths, panic and confusion. If you’re over 25, or younger but independent from your parents, 2012+ student loans work slightly differently than for typical school leavers going to university. This new free mature students' guide is here to give you the facts.

The guide is provided by MoneySavingExpert.com and Universities UK and is crucial reading for anyone considering going to uni in 2015.

Get Martin's free printed guide

Teachers / Parents / Universities feel free to print and distribute this guide.

For more info on the changes, see the full guide: Student Loans 2015

Also see: Student Checklist | Student Accounts | Repay My Student Loan?

If you want it quickly, it's best to download the pdf as the printed guide could take one to four weeks to arrive.

Why do we need your details?
Why do we need your details? This is the printed version of the booklet. We need to post it to you. To pay for the printing and distribution, whilst completely editorially independent, the guide is sponsored by London & Country mortgages.

However don't worry, we will not give your name and address to anyone else and you will not receive any further mailings whatsoever from us or London & Country.

If you input your email address, we'll send you Martin’s weekly Money Tips email so you don't miss out on MoneySaving tips or mortgage news. If you don't want to sign up, leave the email field blank.

Watch or listen to the audio and video guides

Click the button to see each of the video and audio guides...

Student Finance 2012 Video Guide

Filmed in front of parents and potential students at UCL, Jun 2011.

Created by the Independent Taskforce on Student Finance Information, see www.studentfinance2012.com

Feel free to pass to others and embed the video on your own site (sorry about the poor sound for the first minute).

The Facts About Fees: Student Loans 2012

Made by Bournemouth University in September 2011 for the Independent Taskforce on Student Finance Information.

Small things may have changed so check the PDF for up-to-date info. Feel free to pass to others and embed the video on your own site.

The changes to student finance from 2012

Edited for the Independent Taskforce on Student Finance Information from a Department of Business, Innovation and Skills video.

Listen to Martin explaining the changes on BBC Radio Five Live's Shelagh Fogarty show. Click on the player below to listen (13:15).

What's in the booklet

Introduction

If you only read the newspapers, you’d believe all students were single 18-year-olds who have just got their A-level results, and are ready to spend three years in the student bar binge drinking.

Yet few of those stereotypes are true (though I’m sure some may still like the odd pint). Many at university are substantially older, have children or are financed independently. In fact, some universities now see mature students as the majority.

1. The basic facts

The size of tuition fees can be scary, but often, it’s not as frightening as it sounds. The repayments are solely based on earnings, not on the amount borrowed. It’s important you know the key facts.

2. Loans, grants and bursaries

There is a range of financial support out there for those wanting to go into higher education. This falls into two main categories – Government support and direct money from universities and colleges. The amounts available often depend on household income – which usually means your unearned income, and the taxable income of any partner that lives with you.

3. How the repayments work?

Student loans must be repaid when you have left the course and started work, and are earning over £21,000 – whereas grants and bursaries do not need to be repaid (unless you leave your course early in some circumstances). Students starting at English universities in 2015 could graduate with loans of anything up to £51,000 if they take both tuition fee loans and maintenance loans.

4. How much will it actually cost?

This is the crucial question and it's one of the many fears putting people off going to university – the ‘how will I afford to live with this debt?’ question. The answer is different for everyone, but the following three points should help clear it up.

5. Q&As

Key questions answered include: 'If I want to do a distance learning course – can I get a living cost loan?', 'What happens if I lose my job or take a career break?' and 'How do those who are self-employed repay the debt?'.

Further reading

A list of key contacts to help with all aspects of student finance.