Information and Communications
Loans and Grants
Why choose student finance
University can be very expensive but don’t worry as there are many options available to you, the most popular option is to get a student loan. Student Finance England can offer tuition loans, maintenance loans and maintenance grants, these are all in place to support you financially during your time at university.
Loans are basically money that is borrowed and paid back over time whereas a grant is basically free money that you do not pay back. If you get a loan, you will only start paying it back when you have a job that has a salary over £21,000 and the money that is repaid each time is a very small fraction of your monthly earnings.
Applying for Student Finance
To ensure your student finance is in place ready for your course, here’s a few tips:
Apply online using the official student finance website, late January is when Student Finance England are usually ready to start accepting applications. To apply, you will need the following:
- A student finance online account
- A valid UK passport or birth or adoption certificate
- Details of your university and course
- Details of our household income
- Your bank details
- You National Insurance Number
- The deadline for applications is on the 31st of May, so try to complete the application before then otherwise you may not get your loan in time.
- If you need to provide details of your household income, you will need to either enter your parents’ email address or print and fill out a form.
- MMU offers a Student Support Package, if you wish to be considered for this, you will need to give your content to share your household income with the university, your parents will also have to consent to this.
- Student Finance England may request for additional information so make you can send them the completed documents as soon as possible.
- Once the assessment process is complete, you will receive a letter that will show your entitlement summary which will show you exactly how much money you will receive and when you will get each instalment.
- Complete your enrolment at MMU in August and collect your MMU ID card during Welcome Week, as these will tell Student Finance England that your enrolment is complete.
- Don’t worry about your tuition fees as they will be paid directly to the University, so just make you receive the correct amount for your loan and/or grants.
- Finally, remember to re-apply for your student finance for each year of your course, it should be quicker than usual as most of your details will carry over from your previous application.