© Copyright Acquisition International 2025 - All Rights Reserved.

Article Image - Student Finance: What You Need to Know
Posted 21st September 2020

Student Finance: What You Need to Know

Student finance has always been a difficult topic, but it's even more so nowadays. The pandemic situation and resulting economic problems have forced many students to apply for student finance. This may be the only way for some students to apply for higher education.

Mouse Scroll AnimationScroll to keep reading

Let us help promote your business to a wider following.

Student Finance: What You Need to Know
Mortar board on british pounds

Student finance has always been a difficult topic, but it’s even more so nowadays. The pandemic situation and resulting economic problems have forced many students to apply for student finance. This may be the only way for some students to apply for higher education. 

Loans for students are readily available, but that doesn’t mean you should jump on the bandwagon without knowing a thing or two first. In this article, we’ll cover:

  • College and university cost in the UK
  • Loans for students
  • How to apply for student finance
  • Managing your student budget

Let’s jump right in. 

 

College and University Cost in the UK

Higher education in the UK costs more than a pretty penny. A lot more. In fact, every year, it’s getting harder and harder for students to afford it. For students from the UK or the EU, the tuition can get up to £9,250. For international students, that’s where tuitions tend to start, with most being much higher. In fact, some tuition can go as high as £38,000.

The cost of tuition depends on the degree. Humanities and social sciences degrees are usually much more affordable than engineering and medical degrees. The good news is, it’s not too difficult to apply for a student loan in the UK and finance your degree.

 

Managing Your Student Budget

As a student, you need to be diligent with your finances. The world is full of temptations, and you can get most of them without leaving your own home’s comfort. This makes budgeting extremely important. 

You might need some help with your student work, especially if you’re working. Essays can be particularly tricky, which is why investing in some reliable online tools to keep your grades up might be a good idea. If you go to uk.edubirdie website, you will find a ton of valuable content for your essays. You can also get help with your assignments and dissertation, as well as other services. Diverting a small part of your student finances toward improving your academic performance, pays off in the long run. 

Since education is expensive, you probably won’t have much to go around. Consider spending money only on essential goods and services. This means things are directly linked to your survival, such as a roof over your head, bills, and food (obviously). And things directly related to your education, such as textbooks, Internet access (this one doubles as entertainment), online tools, etc.  

Finally, as tempting as it can be, try to avoid gambling, alcohol, and tobacco. Addictive substances and behaviours are a financial black hole. You get nothing good out of them in the long run. Not to mention, they can ruin your health and future. 

If you’re having trouble with your finances, you can always look for outside help financing your degree. 

Loans for Students

Because education has become so expensive, there are systems in place to help you out. As a student, you can get two main types of loan: Tuition Fee Loans and Maintenance Loans. 

Tuition Fee loans, as the name suggests, cover your tuition. You won’t receive any of it. Instead, the money goes directly to the institution where you’re a student.

The best thing about Tuition Fee loans is you need to get to a certain pay level before you need to start paying it back. For example, if you become a writer once you graduate, but you don’t earn above the minimum payment requirement, you don’t start paying the loan. Once your earnings hit a certain threshold, then you start paying the loan back.

The second type of loan you can apply for is the Maintenance loan. Unlike Tuition Fee loans, the Maintenance loan makes it into your bank account in monthly installments. Instead of covering your tuition, they can help you out with your other living expenses, such as accommodations, food, bills, etc.

You can apply for both types of loans in parallel. However, do keep in mind you’ll have to pay those loans back at some point. Student financing can easily become a problem because many students don’t do their research before applying for financing.

How to Apply for Student Finance

The good thing about the modern era is most things can be accomplished online. Applying for student finance is no exception.

  • If you’re a first-time student, then you’d need to create an account.
  • Once you’ve created your account, you’d have to fill in an application. We know it’s a tedious process. But there’s money waiting on the other side of it (if everything is in order), how bad can it be?
  • There are probably going to be questions about household income. You’d best be straight about that.
  •     Of course, since you’re filling everything online, you’ll have to provide proof you are who you say you are. Otherwise, anyone would be able to get a loan in anyone’s name and the world would plunge into chaos.

In case you’re a returning student (meaning you’re moving into next year, repeating the same year, or you’re moving into a new course), applying for a student loan is even easier. You just log into your account, and you apply. 

Conclusion

Student financing may be the only way some students make it through higher education. The rising tuition fees and cost of living make a literal necessity for many to apply for student loans. 

The good news is procedures are relatively easy to follow. As long as you can manage your finances after being approved, you shouldn’t worry too much. However, you still need to be careful with the many temptations the world has to offer.

Categories: Finance


You Might Also Like
Read Full PostRead - Eye Icon
The Most Highly Regarded Expert Witnesses of 2015
Legal
08/06/2016The Most Highly Regarded Expert Witnesses of 2015

What should you be doing to avoid delays and disputes in construction and infrastructure projects

Read Full PostRead - Eye Icon
Cash Flow Management: Navigating Peaks and Valleys in Business Finances
News
07/12/2023Cash Flow Management: Navigating Peaks and Valleys in Business Finances

Cash Flow Management: Navigating Peaks and Valleys in Business Finances In the serpentine journey of business, cash flow stands as the lifeblood – pulsing through the veins of daily operations, empowering growth, and sometimes, signaling financial distre

Read Full PostRead - Eye Icon
Top 5 Tips For Effective Fleet Management
Strategy
05/10/2022Top 5 Tips For Effective Fleet Management

No matter the size or nature of your business, effective management calls for analytical ability. Fleet management is one of those tasks that necessitates a well-thought-out plan from the outset, just like managing your finances and collaborating with supplier

Read Full PostRead - Eye Icon
Understanding the Triple Threat in the Charity Sector
Corporate Social Responsibility
25/02/2025Understanding the Triple Threat in the Charity Sector

As technology continues to evolve, so do the cyber threats that come with it. Cyber criminals are becoming ever more sophisticated and are finding new ways to exploit vulnerabilities and compromise systems.

Read Full PostRead - Eye Icon
How To Give An Effective Business Presentation
Leadership
10/08/2021How To Give An Effective Business Presentation

A corporate presentation should have an interesting subject given with passion. Here we look at what can make your presentation stand out and give you that edge.

Read Full PostRead - Eye Icon
Investing in the Potential of 5G – and the Companies Worth Watching
Finance
17/10/2022Investing in the Potential of 5G – and the Companies Worth Watching

The 5G market is projected to be worth $65 billion (£53.6 billion) by 2026, and by 2024, there will be over a billion global 5G subscribers. While the 5G sector has been impacted by scepticism after years of hype, there is likely to be a new phase of competit

Read Full PostRead - Eye Icon
JP Morgan Advise IK Investment’s Acquisition of Cérélia Group
Legal
24/06/2015JP Morgan Advise IK Investment’s Acquisition of Cérélia Group

JP Morgan Advise IK Investment's Acquisition of Cérélia Group

Read Full PostRead - Eye Icon
Cyber Security Specialists Secure Success!
Innovation
22/07/2022Cyber Security Specialists Secure Success!

Information systems are the beating heart of how companies operate, and it is these companies that elevate nations to new and prosperous heights.

Read Full PostRead - Eye Icon
Cross-Border Payments: Challenges and Solutions for AP Managers
News
20/05/2024Cross-Border Payments: Challenges and Solutions for AP Managers

In today’s global economy, handling cross-border payments effectively is essential for companies that do business internationally. In 2023, the total value of cross-border payments had soared to $190.1 trillion, highlighting the extensive and vital role



Our Trusted Brands

Acquisition International is a flagship brand of AI Global Media. AI Global Media is a B2B enterprise and are committed to creating engaging content allowing businesses to market their services to a larger global audience. We have a number of unique brands, each of which serves a specific industry or region. Each brand covers the latest news in its sector and publishes a digital magazine and newsletter which is read by a global audience.

Arrow