You may apply to the Student Loans Company for a low-cost,
income-assessed loan to cover your living expenses, if you are:
- A UK national, or have 'settled' status
- Normally live in England
- Have been living in the UK for three years (five years for EU nationals), other than for the purposes of full-time education, before beginning your university studies
If your funding body is Student Finance England and you're studying in London and living away from home, the maximum loan for the 2017/18 academic year will be £11,002. If you're studying in London and living at home, the maximum loan will be £7,097 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 the April after you have left university and are earning over £25,000 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 £25,000 threshold.