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. 


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.