Applying for Student Financing?

It is now that time of year again when students have to apply for their student finance ahead of the next academic year. This article will help to guide both new and current students through the process of submitting their application. New students have to submit their application by 21st May and students who are returning to university need to submit their application by 30th June. These deadlines must be kept to, as authorities are very strict about late applications. In the past there have been situations where students have not been allowed to attend classes because they failed to meet their deadlines.

Student Finance is provided by the government and offers financial help for students throughout their time at university. Funding is offered in three different ways; the maintenance grant, the maintenance loan and the tuition fee loan.

The tuition fee loan and maintenance loan are not the same as the maintenance grant and do need to be paid back, but not until your annual income is over 15,000.

All students are entitled to the maintenance loan, although the amount will differ depending on where you live and your annual household income. The maximum amount available per year is a total of 6,928.

The final type of student funding available are the tuition fee loans. Tuition fee loans are given to help pay for your tuition fees and are paid directly to your place of study. Tuition fees are set to rise to a maximum of 9,000 from 2012/13, however at present the maximum universities can charge for tuition fees are 3,375.

Please go to our Student Finance Calculator to work out exactly how much money you could receive for the next academic year. You can then go to our Student Money Saver Budget Calculator, which will help you to budget your finances throughout the year, in order to avoid ending up with a massive overdraft.

So, go ahead and apply now for your student finance.

StudentMoneySaver.com helps students save money by giving them impartial advice on everything related to student finance. Learn how to manage a student loan, find the best student offers and discover which brands offer student discounts.