Free Mature Student Guide

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.