Student Wellbeing Services
Student Funding Service
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UK Students - Government Undergraduate Funding
Living Cost Loans
The maximum (non-London) rates of student loan (away from home) are:
These 100% loan rates are subject to the usual means testing procedures on household income and may be reduced. A lower rate loan is payable where the student is resident with parents or in the final year. There are extra amounts due where additional weeks attendance is required or the student is studying abroad. For full details please see the funding summary page for your year of entry on the right hand menu.
Student Loans will be paid by the Student Loans Company by automated bank credit (BACS) in three termly instalments. The first instalement is paid 3-5 days following your arrival and registration at University in the first term, followed by an instalment in the second term (January) and a final one in the third term (April)
Please contact The Student Funding Service or the Student Loans Company if you are unclear about your situation. If you have completed degree level study before, please see the prior study information at the bottom of this page.
If you are a muslim student you should note that student loans are not commercial loans. As the annual interest is only equal to inflation, the amount you borrow is the amount you pay back in real terms.
Your student loan is normally repayable on the 6th April following the date that you complete or leave your course. If you withdraw from your course prior to your original intended graduation date, you will be eligible to start repayment of your student loan in the April following your last date of attendance, for more information click here
The Benefits of Higher Education
When considering the costs of loans for University you should also consider the benefits of Higher Education, see: http://www.lancs.ac.uk/sbs/funding/costsandbenefits.htm
With effect from 2006 students who are taking a second undergraduate degree will have restricted access to student support funding (even if the previous study was abroad).
Students who did not finish their first degree
Support is available for the length of the new course, plus one additional* year (i.e. a repeat year), minus any years of previously supported Higher Education study.
(*A CPR - compelling personal reasons - year may also be available on top of the one additional year if CPR reasons for early withdrawal apply.)
Students who graduated from their first degree
Students who already hold an honours degree from a UK or overseas institution will no longer be eligible for student funding for a second degree.
Students applying for a course leading to a professional qualification (Medical doctor, Dentist, Veterinary doctor, and Architect) will be able to access a student loan for living costs and supplementary grants (Parents' Learning Allowance, Adult Dependants' Grant and Childcare Grant. They will not be able to access a tuition fee loan or HEMG, for more information on these please click here. If you have completed a first degree you are advised to contact the SLC for guidance at least 3 months prior to applying for University entry.