Whether you’re starting your first year at university or college or returning to study for a new academic year, getting your student finance organised is essential and the Student Loans Company (SLC) is here to help you.
“While you’re studying at university or college, you’ll have two main costs – tuition fees and living costs and for eligible students there’s student finance available to help with both”
“You usually start to pay back Tuition Fee Loans and Maintenance Loans from the April after you have finished or left your course, or the April 4 years after the course started if you’re studying part-time and are earning over the repayment threshold. The amount you repay is based on your income, not what you borrowed”
“Interest is added to your loan balance from the day you receive your first instalment until the loan is paid off in full or is written off whichever comes first. For students starting university or college in 2025/26 the write off period is 40 years. The amount of interest charged is based on the retail price index”
Below you’ll find answers to some of the most common questions asked by students as they prepare for the new term.
Can I still apply for student finance for 2025/26?
Yes. You can apply for funding up to nine months after the first day of the academic year of your course. If you’ve not yet applied for your student finance for the 2025/26 academic year, you should do so now as it can take up to four weeks. The easiest way to apply is online at www.gov.uk/apply-online-for-student-finance for students in England or www.studentfinancewales.co.uk for students in Wales – it should only take around 30 minutes.
If you are applying late for your student finance (after the application deadlines) then your application may not be fully processed by term start. Student Finance England or Wales will make an initial assessment, so you have some money as close to the start of your course as possible and then pay a top-up amount once the application is fully processed to include your household income details.
SLC processes all applications for students in England and Wales. Students in Scotland apply to the Student Awards Agency Scotland (SAAS) and Student Finance Northern Ireland (SFNI) issues loans in Northern Ireland.
Who qualifies for student finance?
There are a number of factors which affect whether you are eligible for student finance. These include:
- your residency status,
- the course you plan to study,
- the university or college you wish to attend,
- if you have studied previously.
If you live in England you can find out quickly if you are likely to be eligible by checking www.gov.uk/student-finance/who-qualifies, in Wales you can check at www.studentfinancewales.co.uk.
How much funding can I get?
While you’re studying at university or college, you’ll have two main costs – tuition fees and living costs and for eligible students there’s student finance available to help with both.
In the academic year 2025/26 approved universities and colleges in England and Wales can charge full-time students up to £9,535 a year for fees depending on the course. Tuition Fee Loans cover the cost of these fees and are paid directly to the university or college once they have confirmed your attendance on the course with SLC.
A Maintenance Loan is available in England to help you pay for living costs, such as rent and bills. The amount of the Maintenance Loan you can get depends on your household income and where you live while studying. Your Maintenance Loan is a contribution towards your living costs but depending on your circumstances it may not cover all of these costs.
Students in Wales can apply for a mixture of loans and grants to help with living costs.
Postgraduate and part-time students can apply for funding too. There’s also extra help available in England and Wales for students with a disability, mental-health condition, long term health condition or specific learning difficulty and/or students who have children or adult dependants.
When will I receive my 2025/26 student finance?
If you applied before the deadline, your student finance for 2025/26 should be in place by now.
When your application was assessed, you would have received an entitlement summary detailing how much funding you can expect to receive during academic year 2025/26. You can access this via your online account.
Your Tuition Fees will be paid directly to your university or college but only once they have confirmed your attendance on the course.
Your Maintenance Loan is paid in three instalments directly into your bank account on the payment dates outlined in your entitlement summary and online account. You won’t receive payment until registration on your course has been confirmed by your university or college. And remember, it can take a couple of days for funds to be sent to your bank account.
It’s also a good idea to check that your bank details have been entered correctly on your student finance application. We advise you not to change them within five working days before any scheduled payment dates, as your funds may not be sent to the correct account. You can double check the bank details provided to us through your online account.
You can also keep track of your application by logging on to your online account at www.gov.uk/student-finance-register-login for students in England. Students in Wales can check at www.studentfinancewales.co.uk.
Students in England can find out more about getting their first student finance payment here and students in Wales can visit www.studentfinancewales.co.uk/payment/
My parent or partner’s income has fallen. How will this affect my student finance?
Some student finance is based on your household income so we’ll need financial details from your parents or partner to calculate how much funding you can get. However, we understand that financial circumstances can change, and we have a process in place to help with that. This process makes sure you won’t lose out on any student finance you’re entitled to.
During the student finance application process your parents or partner will be asked to provide financial details from a previous tax year. If you think their income is going to be at least 15% lower this tax year, we can look at your application based on their ‘Current Year Income (CYI)’. But this can only be done after they’ve given us the details of the previous tax year.
There are different rules for the CYI process depending on where you live in the UK and the type of student finance you’re applying for – to find out the specific rules that apply to you go to the relevant website.
Students in England should visit www.gov.uk/support-child-or-partners-student-finance-application/current-year-incomeand students in Wales should visit https://www.studentfinancewales.co.uk/current-year-income/
When do I have to pay my loans back?
You usually start to pay back Tuition Fee Loans and Maintenance Loans from the April after you have finished or left your course, or the April 4 years after the course started if you’re studying part-time and are earning over the repayment threshold. The amount you repay is based on your income, not what you borrowed.
Interest is added to your loan balance from the day you receive your first instalment until the loan is paid off in full or is written off whichever comes first. For students starting university or college in 2025/26 the write off period is 40 years. The amount of interest charged is based on the retail price index. You can find out more about repaying your student loans here: www.gov.uk/repaying-your-student-loan
The repayment of your loans is administered through the tax system and currently each month 9%, or 6% if you’re studying a postgraduate course, of your earnings over the relevant threshold is taken as a repayment. Your loan repayment is taken through the Pay As You Earn (PAYE) system with HM Revenue and Customs (HMRC) liaising with employers or the account holder (if you are self‐employed). The Student Loans Company (SLC) maintains your account which is why it is important to keep your contact details up to date.
You can get up to date information on your student loan balance via SLC’s Online Repayment Service (ORS). When you are in the final stages of repaying your loan you will be invited to move to paying by direct debit. This moves you out of the PAYE scheme and means you will avoid repaying more than you owe. Graduates can make the switch to direct debit via their online accounts.
Find out more about repaying your student loans at www.gov.uk/repaying-your-student-loan
How can I stay safe online?
Fraudsters trying to steal your student finance may send phishing emails claiming to be from the Student Loans Company, Student Finance England or Student Finance Wales asking for personal or financial information. This can be especially common around the three main payment dates in September, January and April.
Always check that you are using a secure website when submitting sensitive or personal information online. Check out our guide to identifying a scam at www.gov.uk/guidance/phishing-scams-how-you-can-avoid-them
Never post personal information, such as your customer reference number or bank details, anywhere online, including social media pages. If you have received a suspicious student finance email, forward it to SLC at fcpu_alerts@slc.co.uk
Where can I find out more?
Visit www.gov.uk/student-finance or www.ucas.com/sfe for more information and resources about student finance.
Check out the dedicated YouTube channels Student Finance England www.youtube.com/user/SFEFILM and Student Finance Wales www.youtube.com/SFWFILM which have a series of short films which help to explain student finance further and provide information about repaying your loan.
SLC also posts updates and useful information on Facebook, X and Instagram. Follow Student Finance England at facebook.com/SFEngland, x.com/SF_England and Instagram at studentfinance_england.
Students in Wales should follow Student Finance Wales at facebook.com/SFWales and x.com/SF_Wales
