HE Course Funding
Thinking of Studying for a Higher Education Qualification?
You can apply for loans to cover your tuition fees and help towards your living costs. The two main types of finance available are a Tuition Fee Loan and a Maintenance Loan and there are other grants available too.
Tuition Fee Loan
As a full time student you are entitled to a Tuition Fee Loan of up to £9,250 each year to cover your fees (this doesn’t depend on your household income), you won’t have to pay this back until you’re earning over £25,000 a year.
The good news is that Coventry College’s tuition fees are only £5,500 per year.
Part time students can apply for a tuition fee loan of up to £6,395 but Coventry College’s fees for part time courses vary between £2,950 and £4,495.
- Your course must be in the UK and be a HND, HNC a Foundation Degree or a First Degree
- It must be your first higher education qualification.
- You can only apply if you’re a UK national or have ‘settled status`
- You normally live in England
- You’ve been living in the UK for 3 years before starting your course
You won’t start paying your loan back until you’ve finished your Higher Education course and your income is more than £25,000 per year. See below for the repayment amounts in relation to your salary.
|Annual Income Before Tax||Monthly Salary||Monthly Repayment|
|Up to £25,000||£2,083||£0|
|Up to £27,000||£2,250||£15|
|Up to £30,000||£2,500||£37|
|Up to £35,000||£2,916||£74|
|Up to £40,000||£3,333||£112|
SUPPORT WITH LIVING COSTS
As a full-time student you can claim the Maintenance Loan to help with your living costs. The grid below shows how much you the maximum you can claim and the amount you receive is means tested on your household income.
|FULL TIME STUDENT||ACADEMIC YEAR 2018/2019|
|Living at home||Up to £7,324|
|Living away from home, outside London||Up to £8,700|
|Living away from home, inside London||Up to £11,354|
|You spend a year of a UK course studying abrord||Up £9,963|
Please note that From 25 March 2016 non UK EU students must have lived in the UK for 5 years before starting their HE course to be eligible for a Maintenance Loan.
Disabled Students’ Allowances (DSAs)
DSAs are available to students who have extra costs because of a disability, long-term health condition, mental health condition or specific learning difficulty. DSAs don’t depend on household income. How much you get depends entirely on your circumstances. DSAs don’t have to be paid back.
The Childcare Grant helps with up to 85% of your childcare costs if you have dependent children under 15 (under 17 if the child has special educational needs) in registered or approved childcare. You can get up to £164.70 a week for one child or up to £282.36 a week for 2 or more children, depending on your household income. This doesn’t have to be paid back.
Parents’ Learning Allowance
Parents’ Learning Allowance is to help with course-related costs if you have dependent children. You can get between £50 and up to £1,669 a year depending on your income and the income of your dependents. This doesn’t normally have to be paid back.
Adult Dependents’ Grant
Adult Dependents’ Grant can help you if you have an adult who depends on you financially. You can get up to £2,925 a year depending on your income and the income of your dependents. This doesn’t have to be paid back.
If you need any further information on Higher Education funding and to apply, please visit here.
For information on loan repayments visit here.