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Welsh students can fund university with a tuition fee loan and a maintenance loan and grant
With A-level results day behind them, many young people in Wales will be mulling over the prospect of university and, more importantly, if they can afford it.
With fees in Wales costing £9,000 a year and the overall cost of an undergraduate degree estimated at £45,494 – what help is available?
What tuition fee support is available for students from Wales?
Most Welsh students studying full-time for a degree, Higher National Diploma or Higher National Certificate can get a loan to pay for their tuition fees and a mixture of a loan and a grant to help with living costs.
A tuition fee loan of up to £9,250 a year is available, depending on how much the course costs. The amount students can get is not dependent on household income.
This loan is paid directly to the university or college and students have to pay it back, including interest, once they have finished or left their course.
What help with living costs is available?
As well as the tuition fee loan, students from Wales can apply for a mixture of a loan and a grant to help with living costs.
For instance, a student who lives with their parents where the household income is £18,370 or less could get an estimated £3,065 loan and £6,885 grant.
If they lived away from their parents’ home, that would increase to an estimated £3,620 loan and £8,100 grant.
If they lived away from their parents and studied in London that would increase further to an estimated £4,511 loan and £10,124 grant.
If the household income was £59,200 or more, a student living at home with their parents could get an estimated £8,950 loan and £1,000 grant.
If they live away, the loan would increase to an estimated £10,720, if they were living and studying in London the loan would increase further to an estimated £13,635.
The maintenance loan and grant are paid into the student’s bank account in three instalments, usually at the start of each term – the loan must be paid back, with interest, once the student has finished or left their course.
The grant does not need to be paid back.
If a student is not in contact with their parents or has spent time in care, they might not need to provide details of their parents’ income when applying.
What if you already have a degree?
If you already have a degree you may be eligible for student finance for another undergraduate degree in medicine, dentistry, veterinary surgeon, architecture, social work or healthcare
What about students with a disability or long-term health condition?
They may be able to apply for Disabled Students’ Allowance, which is extra support and can be used to pay for study-related costs such as equipment, non-medical help, travel and photocopying and printing.
Full-time or part-time undergraduate or postgraduate students can get up to £33,146 a year to cover the costs of specialist equipment, a non-medical helper and more general costs.
A travel allowance is also available to cover any study related travel costs due to their disability. This is assessed on a case-by-case basis.
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Grants are available for undergraduate students with children
What about students with children?
Undergraduates with children can apply for a Childcare Grant to help cover childcare costs.
How much they can get depends on household income and does not have to be paid back.
They can also apply for a Parents’ Learning Allowance of between £52 and £1,896 a year – how much they get depends on their household income and does not have to be paid back.
What about students with adult dependants?
Full and part-time students over 25 can apply for an Adult Dependants’ Grant of up to £3,262 a year if they have an adult who depends on them financially.
How much they get depends on household income and does not have to be paid back.
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Special Support is available for students over 60
What about those on benefits or over 60?
Special Support is available for students over 60 and those who claim certain income-related benefits and is intended to help with costs such as books, course equipment and travel.
If eligible, the Department for Work and Pensions will disregard their grant entitlement up to a maximum amount of £5,161 when calculating any benefits they’re entitled to.
What about those studying abroad?
Those who start and complete a course outside of the UK cannot apply for funding from Student Finance Wales.
Students must apply for financial support to the funding agency of the country concerned.
Information of funding and potential scholarships may be available from the relevant university or college.
They may be able to claim for children’s travel costs if they’re a single parent.
They have to pay either the first £303 or the first £1,000, depending on household income and when the course started.
How much they get depends on household income and when the course started. It does not have to be paid back.
What if I want to study in England, Scotland or Northern Ireland?
Welsh students face annual tuition fees of £9,000 if they stay in Wales or £9,250 if they choose to study in England, Scotland or Northern Ireland.
How do fees in Wales compare to other parts of the UK?
Northern Irish students pay £4,710 a year if they stay in Northern Ireland while those from England who choose to study there pay £9,250 a year.
Tuition fees are free for the majority of Scottish students staying in Scotland.
When do I have start paying loans back?
Any remaining loan that hasn’t been paid is written off after 30 years.