With the introduction of new higher fees from 2012, the first thing to note is that students who started their course before 2012 will not have to pay the new higher fees.
These students will carry on paying the lower fees based on the old system.
New tuition fees
From September 2012 universities and colleges in the UK public sector can charge new full time students up to £9,000 a year and new part-time students up to £6,750 a year.
This does not mean that every university will charge the full fees but they have are allowed to charge up to this amount.
How much will each university charge?
Click here for a list of fees that universities are planning to charge for new students from 2012. These fees are correct at time of uploading but are subject to change. To check the exact fees visit UCAS or contact the university directly.
How will I afford such high university fees?
All students from 2012/13 are eligible for a tuition fee loan of upto:
- £9,000 for new full-time students
- £6,750 for part-time students whose courses are at least 25% of a full-time course each year.
- £6,000 if you study on an approved full time course at a private university or college.
- £4,500 for students on an approved part-time course at a private university or college whose courses are at least 25 per cent of a full–time course each year.
The tuition fee loan is paid directly to your university or college, you will not have access to the cash yourself.
Student loans from 2012/13
Students starting courses from 2012 will still be eligible for maintenance loans and grants to fund living costs. However, unlike with tuition fees, only full-time students can get maintenance loans and maintenance grants.
The maximum maintenance loan for new students starting in September 2012 is :
- £5,500 for students living away from their parental home and studying at an institution outside of London;
- £7,675 for students living away from their parental home and studying at an institution in London;
- £4,375 for students living a their parental home.
Students can also apply for a maintenance grant. The full maintenance grant is £3,250 and is available to students with a household income of £25,000 or under. Students with a household income of between £25,000 and £42,600 are eligible for a partial maintenance grant.
It is important to note that maintenance loans are to be repaid along with tuition fee loans after university when you earn more than £21,000 but maintenance grants do not have to be repaid.
Repayment of student loans for students starting in 2012
Students who started courses before 2012 start student loan repayments once their salary reaches £15,000.
Students who begin courses in 2012 or later will start repayments once their salary reaches £21,000. After this £21,000 threshold is reached repayments will be taken as 9% of what is earned above £21,000.
That means is you earn £31,000 per year you will pay 9% of £10,000, which is £900 per year.
The interest rate on student loans from 2012 onwards will be:
- RPI (retail price index) if you earn £21,000 or less;
- RPI plus up to 3% if you earn between £21,000 and £41,000;
- RPI plus 3% if you earn over £41,000
This does mean that the more you earn the more your loan will cost you. Loan repayments are deducted automatically from your salary.
Students from Scotland, Wales and NI
The following information is written using the best information available at this time but is subject to change due to laws.
The latest news suggests that Scottish students studying in Scotland won’t have to pay university fees although UK students from outside of Scotland but studying in Scotland will still have to pay up to £9,000 a year in fees.
Welsh students studying anywhere in the UK will receive a maximum fee loan of £3,465 plus a new fee grant to account for the balance of the actual fee charged (up to £9,000 a year).
Northern Irish students
Fees for Northern Irish students will be the same as for English students.