Student Finance

Parents and carers in England have to contribute up to £15,127 a year in order for their children to have a minimum acceptable standard of living at university, according to a major new report published today. It follows a long-running campaign by MoneySavingExpert.com urging the Government to increase university living loan amounts and to make the hidden parental contribution more transparent.

All former students with student loans should check if they can reclaim £100 or even £1,000s, MoneySavingExpert.com (MSE) founder Martin Lewis has urged. It comes after an MSE investigation found that over a million people wrongly overpaid their loans last year. Here's what you need to know and how to reclaim.

If you're a student starting university in England this September, there are three MAJOR changes to student finance you need to know about. MoneySavingExpert.com founder Martin Lewis explains what's happening in his latest 'Wallet Wednesday' on ITV's Good Morning Britain.

People in England aged up to 60 who want to study, train or retrain will be able to access flexible student finance to help them do so from 2025, the Government has confirmed today. The new higher education loan scheme, dubbed the 'lifelong loan entitlement', will be worth the equivalent of four years of post-18 education. Here's what we know so far.

If you're a parent thinking about how you might be able to help your child with their university costs, MoneySavingExpert.com's founder Martin Lewis has an important warning for you, which he shared in the latest episode of ITV's The Martin Lewis Money Show Live. Watch the clip below or read on to see what Martin said.

Struggling students have been “dealt a blow” as loans to help with living costs will fall far short of rising inflation, based on Government plans. From September, English students will see a real term cut to maintenance loans of 8p in the £1 - a shortfall students or parents will have to make up for themselves.

School leavers getting their A-level results this week should be aware that deferring for a year means they'll be on the new student finance system being introduced in England in September 2023, and will repay their loan for a much longer period, potentially costing £10,000s more.

Student loan interest rates are set to rise for many from September – though the changes are yet to be finalised by the Government. Current students in England and Wales, for example, could see the interest rate they're charged jump from 4.5% to 12%. Many former students with outstanding loans are likely to see rates rise too.

Prospective university and college students who plan to go through a process known as 'clearing' to get onto a course should not wait for their exam results before applying for student finance. The Student Loans Company (SLC) says people should instead apply as soon as possible. Students who've already been offered a place but have yet to apply for funding should also do so now.

Applications for university loans for the 2022/23 academic year are now open for students in England, Northern Ireland and Wales, and will shortly open for those in Scotland. Both new students and those returning to university can apply. But the process can take up to eight weeks, so make sure you submit yours as soon as possible.