Undergraduate

Investing in Your Education

Sources of Funding

There are a number of funding sources available for students:

Higher Education Maintenance Grant

A non-repayable, UK Government Higher Education Maintenance Grant is available to English and Welsh students from less well off families. The maximum will be £2,906 (for 2009/10) a year where household income is under £25,000 a year. Between this figure and around £50,020 a partial grant will be available. Grants are payable in three instalments - one at the start of each term - and do not have to be repaid.

There is a student loan and grant calculator which will estimate the amount of student loan and grant you could receive. This is available at: www.direct.gov.uk/en/Diol1/DoItOnline/Doitonlinestudentfinance/DG_10035908

*Please note: The Higher Education Maintenance Grant is available only to UK students (see www.studentfinancedirect.co.uk for details).

Special Support Grant

Students from lower income families with an underlying eligibility for means-tested benefits (for example lone parents) may be eligible for the means-tested Special Support Grant of up to £2,906 instead of the Higher Education Maintenance Grant. This grant is non-repayable and is paid in three instalments. Students receiving this grant can also take out the full maintenance loan.

UCL Maintenance Bursaries

In order that no student is deterred from applying to UCL on the grounds of financial hardship, we have introduced a bursary scheme targeted at students from lower income households, with the least well-off students receiving the most financial support. Bursaries are also offered to those from families with relatively modest incomes who are often overlooked by schemes of this kind.

Full details available here

Loans for Maintenance

The Student Loans Company offers low cost income assessed loans to students for living expenses. For students studying in London and living away from home the maximum loan for 2009/10 will be £6,928 per year. For those living at home the maximum loan will be £3,838 per year.

You do not have to start to repay your loan until after you have left university and are earning over £15,000 per year. If you have both maintenance and tuition fee loans they will be repayable as one loan, rather than two. Repayments will be calculated at 9% of your income over the £15,000 threshold. As an example, someone with an income of £18,000 a year would be liable to pay 9% of £3,000, i.e. £270 a year or £5.20 a week. Unlike commercial debt, the graduate will not end up paying back more in real terms than they borrowed since the rate of interest is set only at the rate of inflation.

Please note: these loans are available only to UK students.

Further information about grants and loans can be found on the DfES website: www.dfes.gov.uk/studentsupport/students

Student Loan Schemes for non-UK Students

Please contact the Ministry of Education in your home country to inquire about the availability of government student loans for study in the UK. In addition, commercial lenders may offer student loan programmes to help international students.

Tuition Fee Loan

In addition to the maintenance loan, all UK/EU students will be able to apply for a loan for up to £3,225 (for 2009/10) per year to cover fees. You will not pay anything until after you have left university.

Please note: Overseas students are not eligible for these loans.

Other UCL Scholarships and Bursaries

UCL offers a number of scholarships, some attached to particular departments and some open to all. Please see www.ucl.ac.uk/scholarships for details.

For full details of financial support for students see www.ucl.ac.uk/current-students/financial-support or e-mail UCL's Student Financial Support and Welfare office at: sfs@ucl.ac.uk

Additional financial support is available for students with disabilities. For further information see www.ucl.ac.uk/disability

Students resident in Wales should also see www.studentfinancewales.co.uk

Students resident in Scotland should also see www.saas.gov.uk

Students resident in Northern Ireland should contact their Education and Library Board.

Further information about financial support is at www.ucas.com/getting/money.

Study Abroad Financial Assistance

UK/EU students who study abroad on the Socrates-Erasmus programme are eligible for a special monthly grant funded by the European Commission. Further support is available in the form of the UCL Study Abroad Student Bursaries designed to assist those students in most financial need who are planning to study abroad. These bursaries are available in addition to the UCL bursaries outlined above.

Access to Learning Fund (ALF)

The Access to Learning Fund provides grants to UK students who find themselves in financial difficulty. Discretionary grants are assessed according to the individual's needs and are non-repayable. Undergraduate students must have applied for their full entitlement of student loan and must have received their first instalment before receiving any payment from the fund.

Work

It is a fact of life that many students choose to take part-time work to supplement their income during their studies, but it is important that academic work takes priority. Here in London there is no shortage of opportunity for varied and reasonably paid employment.

Further information available here.

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