Student Finance 13-15

 

Is Higher Education Free?

Higher education isnít free like going to school is, and you may have seen the cost of higher education discussed in the news a lot, however it should not be something that worries you or stops you from accessing higher education.

Higher Education courses charge tuition fees, which is money the university or college uses to fund teaching, facilities, research and equipment to give students the best experience possible. You can get a tuition fee loan from the government to pay these fees. 

You can also get a loan from the government to help with the cost of studying full time, this is to be used for items such as course stationary, textbooks and equipment, but also to help pay for rent and food if you chose to move out whilst studying. However these loans shouldnít worry you, as you donít start repaying them until you earn over £25,000 per year. Some institutions also provide bursaries or scholarships for particular students or courses that do not need to be repaid. These are often very specific to the course, type of qualification or institution so if you have an idea of what and where you want to study it is worth looking this up on institution websites.

It is important to weigh up the costs of studying a higher education qualification but donít forget that there are lots of different options for how and where you study, as well as support available in the form of loans, bursaries and the opportunity to earn money while you study. 

Money Matters

Learning to manage your own money is an important skill to learn, and one that often coincides with the beginning of your higher education journey. You may have to pay for things you have never considered before, such as buying your own food and paying for somewhere to live. You will also need to be able to budget and keep track of your money. You can see how some current higher education students have managed their money here.