Money for higher level study
The cost of going on to university may seem scary but it is important
to remember that the student finance systems are there to help. You do
not need to find any money upfront! Depending on your situation you are likely to get money from a range of sources to help with the costs of university - Student Finance, local authorities, university, accomodation companies and other organisations.
Financial support available from Student Finance
You can apply for a tuition fee loan to cover your fees. You can also apply for a loan to cover your living costs.
The tuition fees will be decided by the institution offering the course - look at an institution's website to see what they plan to charge. Click here to see institutions in the South.
The government will lend you the money for the tuition fees and you won't have to pay anything back until you are earning more than £25,000. If you never earn more than that you NEVER pay the loan back!
Stories in the press and worries about leaving uni with huge debts have made some young people think twice about uni but really the loan repayments are manageable.
- If you are earning £26,000 you will pay back £90 a year which is £7.50 a month - less than a cinema ticket!
- If you are earning £29,000 you will pay back £30 a month - that's about the same as a mobile phone contract!
Your loan repayments will be automatically deducted from your earnings the same way as income tax.
The funding available is for higher education courses, so you should still get the same financial support if you study a higher education course at a university or college. However, sometimes studying full-time or part-time can make a difference to the amount of funding you can get.
Money from Local Authorities for care leavers
As a care leaver you may be entitled to financial support from your local authority. The amount of support you can receive will depend on the length of time you were in care, the education you have undertaken before and which local authority provided your care. You should get in touch with your local authority and ask them for a copy of their written policy for financial support for care leavers and ask them how they can support you.
It’s really important that your Pathway Plan includes your aspiration to go to university. Pathway Plans are agreements between you and the local authority they outline the support they will give you. If it’s not written in your plan it can be difficult to get the authority to provide it. Don’t panic if your plan doesn’t mention university – talk to your personal advisor to request it is included along with the support they are able to give you.
If you are a care leaver from England or Wales starting higher education study for the first time before your 25th birthday, then you are entitled to a one-off bursary of a minimum of £2,000 from your local authority. This may be paid in a lump sum or in instalments. The timings of bursary payments are agreed between the care leaver and the local authority. You will need to apply to your local authority for this bursary. It does not have to be repaid!
Money from university for care leavers
Visit the website Propel - You'll find information about moving into higher education from care, alongside specific details about the financial support individual unis and colleges across the UK offer. Each uni or college has its own page, containing an overview of its courses and the specific support it can give care leavers. Some accommodation providers such as Unite also offer free accommodation scholarships you can apply for if you are a care leaver or estranged from your family.
For more information on university costs and student loan details, check out the following links:
- UCAS information for care leavers
- Information from Propel
- Care Leaver Bursaries - Scholarship hub
- Unite Foundation