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Applications for maintenance loans go through the Student Loans Company

Applications for maintenance loans go through the Student Loans Company

Fees and Funding Explained

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Going to university is a life-changing step but it ‘ s important to understand the costs involved and the funding options available before you start. With no fees to pay upfront for eligible UK undergraduates, a university education should be affordable for all. Our Advice Service is here to help you, offering comprehensive information and advice about all aspects of student finance and funding.

Tuition Fees and Loans

At the University of Lincoln, UK student tuition fees for 2022 undergraduate entry are ?9,250 per year full-time or ?77 per credit point for part-time study.* Most students cover the cost of full-time fees by applying for a Tuition Fee Loan. If you apply and meet the eligibility requirements, the Student Loans Company pay this loan directly to the University to cover your tuition fees.

Repayments for your student loan will not begin until you finish your studies and are earning at least ?27,295 a year, ?2,274 a month, or ?524 a week. The amount you repay will depend on how much you earn, regardless of what you borrow. The current rate is nine per cent of income above the relevant threshold.

Whatever you borrow, any outstanding balance of the loan is written off by the Student Loans Company 30 years after the April you were first due to repay (unless you are in arrears).

The fees system and available funding differs for part-time and international students. More information on fees and funding for International students can be found within our International pages.

Bursaries and Scholarships

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For eligible undergraduate students going to university for the first time, some scholarships and bursaries are available to help cover costs. The University of Lincoln offers a variety of merit-based and subject-specific bursaries and scholarships which students can apply for.

Living Costs

It is important to consider your living costs as you will need to cover day-to-day expenses such as food and accommodation while studying at university. Eligible students (including new part-time) can apply for a means-tested Maintenance Loan of up to ?9,488 per academic year () to help with living costs, which would be paid into your bank account at the start of each term.

The exact amount students can borrow depends on your family’s income, where you live, what year of study you’re in, the course you will be studying, and if you are studying full-time or part-time.

How to Pay

If your tuition fees are not paid by a sponsor or directly Student Finance, you will need to pay them yourself. Visit our How to Pay pages to find out more about the process and accepted payment methods.

Supporting Part-time Study

The flexibility of part-time study allows you to find a course that fits around your lifestyle, work, and other commitments. The University of Lincoln offers a range of degree courses that can be studied on a part-time basis.

As a new part-time student at the University of Lincoln, you may be eligible to receive a tuition fee loan of up to ?6,935 to cover the cost of your tuition fees. You may also be eligible to receive a maintenance loan to contribute towards your living costs. How much maintenance loan you will receive depends on your household income, course intensity, and where you live while studying.*

If you are eligible for the loan, your tuition fees will be paid directly to the University and the maintenance loan will be paid into your nominated bank account. You will not begin repaying the loan until you are earning more than ?27,295. You will not normally be eligible for a loan if you already hold a qualification equal to or higher than the one you are studying for. However, if you plan on commencing a part-time honours degree-level course (minimum 25% intensity) in certain engineering or computer science courses, you may be eligible.

*In order to be eligible for a loan, you must be studying at an intensity of at least 25% of an equivalent full-time course for the appropriate academic year, and for the duration of the entire course. Other criteria apply regarding residency and previous study.

Your Home From Home

Once you’re familiar with your course fees, it’s time to start thinking about where you’re going to live and the costs involved. Choosing where to live while studying is a big decision and it’s important to take the time to find out what’s available and what would best suit your needs and budget. Based in the heart of Lincoln’s city centre, most student accommodation at the University is either on our Brayford Pool Campus or just a short distance away.

Financial Information Infographics

The University also produces infographics to help students, staff and other stakeholders better understand the University’s income, expenditure, staff numbers and investments.

Contact Us

The Student Funding team offers comprehensive information https://getbadcreditloan.com/payday-loans-pa/southampton/ and advice for prospective students about all aspects of student finance and funding.

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