Student Loans

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.

Student loan interest rates will rise for many university leavers next month. But this WON'T make a difference to your monthly repayments. Here's what you need to know.

Mortgage broker Tembo has taken down misleading online adverts encouraging people to remortgage to repay their student loans after pressure from MoneySavingExpert.com (MSE). Two pages on the firm's website have also been removed after we told Tembo we'd report it to the financial regulator as the advice could have left many worse off. 

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.

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.

University leavers from England and Wales who started university in or after 2012 will pay around £110 a year more than they would've done from April as the Government has announced a plan to freeze the student loan repayment threshold - the earnings level at which loans begin to be repaid. 

Students in England can now sign up to the Student Finance England mailing list and get an email when applications for the 2022/23 academic year open. The invitation to sign up comes with just weeks to go before the UCAS application deadline for undergraduate courses on 26 January 2022.

Full-time students studying for an undergraduate degree at a university in England will be charged no more than £9,250/yr in tuition fees in the 2022/23 academic year, the UK Government has confirmed. It means it's the fifth year in a row that fees have been frozen.