If you are a student who is a UK national (or has
resided in the UK for five years, other than for the purposes of
full-time education, before beginning your university studies), you're
able to apply to the Student Loans Company for a low-cost,
income-assessed loan to cover your living expenses.
If your funding body is Student Finance England and you're studying in London and living away from home, the maximum loan will be £10,702. If you're studying in London and living at home, the maximum loan will be £6,904 per year.
Students funded by other funding bodies such as Student Finance Wales, Student Finance Northern Ireland and Student Awards Agency for Scotland should contact the appropriate funding body for maintenance loan rates.
As with the Tuition Fee Loan, you will not have to repay your Maintenance Loan until you have left university and are earning over £21,000 per year. If you have both Tuition Fee and Maintenance Loans these will be repayable as a single loan. Repayments will be calculated at 9% of your income over the £21,000 threshold.
Note on maintenance loan information
Please note that this information is intended only as a guide - the figures given relate to the 2016/17 academic year. These pages will be updated when the information for 2017/18 is available.