The UK Guide to University Loans and Grants 2024/2025

This guide is designed to give you a clear understanding of your financial and career options as you prepare for university in 2024/2025. From understanding how to apply for student loans and grants to securing the best student accommodation - plus insights into what you can expect in terms of graduate salaries.

Whether you're just starting to plan your university journey or exploring various career pathways, we’ve got you covered with all the essential information.

INDEX

1. Student Loans and Maintenance Loans
2. NHS Career Options
3. Teaching Career Options
4. Student Accommodation Options
5. Graduate Salaries

1. Student Loans and Maintenance Loans

Tuition Fee Loan 2024/2025

All students pursuing a Higher National Diploma (HND) or a degree can apply for a Government Tuition Fee Loan. The loan is paid directly to the educational institution and is not means-tested. For students in England, this loan covers tuition fees up to £9,250 per year.

For more information and to apply for a Tuition Fee Loan, contact the appropriate student finance body based on where you plan to study:

England: 0300 100 0607 | Student Finance England

Scotland: 0300 555 0505 | Student Awards Agency Scotland

Wales: 0300 200 4050 | Student Finance Wales

Northern Ireland: 0300 100 0077 | Student Finance Northern Ireland

Loan Repayment Terms 2024/2025

Loan repayments start in the April after you finish your course, and they are based on your earnings. Repayments are paused if your income falls below the repayment threshold:

England, Wales, and Northern Ireland: £27,295 per year

Scotland: £25,000 per year (if not eligible for free tuition)

You can calculate how much you will repay using the Student Loan Repayment Calculator. Loans are written off 30 years after the completion of your course.

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2. NHS Career Options 2024/2025

NHS-Funded Degrees

The NHS offers financial support for the following healthcare-related degrees, covering full tuition fees and providing additional financial aid.

• Nursing
• Midwifery
• Physiotherapy
• Radiography
• Paramedicine
• Occupational Therapy
• Speech & Language Therapy
• Orthoptics
• Podiatry and Chiropody
• Dietetics
• Orthotics & Prosthetics
• Dental Therapy & Hygiene

Apply with the NHS Learning Support Fund (LSF)

NHS Grants and Financial Support 2024/2025

Eligible students can receive:

• Training Grant: £5,000 per year
• Parental Support Payment: £2,000 per year
• Specialist Subject Payment: £1,000 per year
• Travel & Accommodation: Individually calculated for clinical placements
• Exceptional Hardship Fund: Up to £3,000 per year

3. Teaching Career Options 2024/2025

Government Tuition Fee Loan

Students studying to become teachers can apply for a tuition fee loan to cover up to £9,250 per year. A maintenance loan of up to £12,382 may also be available, even if you are receiving a teaching bursary or scholarship. Find out more about the various ways you can train to be a teacher at Train to teach.

Final Year Degree Students

Final year degree students can apply for a training bursary of £9000 when studying:

• Secondary maths or physics course leading to ‘qualified teacher status’ (QTS)
• Opt-in QTS course in secondary undergraduate, Computing, Languages, Mathematics or Physics
• 4-year Undergraduate degree courses leading to QTS and a Master’s degree can apply for a £9,000 bursary. This is paid in the third and fourth years of their degree course.

Teaching Bursary & Scholarship 2024/2025

Postgraduate bursaries and scholarships are available for those training to teach secondary subjects, such as:

• Maths, Chemistry, Computing, Physics: £24,000 bursary or £26,000 scholarship
• Languages and Classics: £10,000 bursary
• Biology: £7,000 bursary

Eligibility for bursaries typically requires at least a 2:2 in your degree or equivalent.

Find out if you are eligible for a teaching bursary

Teaching Scholarships

The scholarship payment is only applicable for:

Chemistry, Computing, Maths and Physics £26,000

The criteria for a teaching scholarship is set by the professional scholarship body:

• Royal Society of Chemistry
• BCS The Chartered Institute for IT
• Institute of Mathematics and its Applications
• Institute of Physics

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4. Student Accommodation Options

University Halls of Residence

If you like to be right in the center of everything that's going on and enjoy socialising, then staying in university halls of residence might be the perfect option. An advantage of university halls of residence is that you are close to the university, saving you money on travel costs and being late when you miss a bus!

Another key benefit is all maintenance is the responsibility of the university, and you can check if your accomodation is covered by the The Student Accommodation Code or the Unipol Student National Code. Both codes have strict requirements to ensure accommodation in University Halls of Residence adheres to health and safety standards and quick repairs when things go wrong!

Costs vary between £80 and £200 per week, depending on the university, location and accommodation type, with a wide choice from a single or double ensuite room to a one bedroom flat. Save the Student provides a searchable database of university accomodation costs.

University halls are usually available only to first-year students. Many second-year students move into privately rented student accommodation.

Private Student Accommodation

Not all first year students live in university halls of residence. Students who have applied through the clearing process may not be able to secure accommodation in university halls of residence or it may be too expensive.

The first point of call is to check if your university can provide accommodation in properties owned or managed by the university. When this is not an option your university should be able to provide you with a list of estate agents, that rent student properties.

In a private student property you will typically pay a monthly rent which will include rates, and then you will be responsible for a share of the cost of services such as gas and electric and broadband. The main advantage is that many students are able to live in the same student accommodation until the end of their degree course. Although this is not always the case and private landlords may choose to not allow students to remain in the accomodation during the summer, or when the contract ends.

Aside from estate agents or university owned or managed accommodation, students can find accommodation on sites such as Student Accommodation UK and Unite Students.

Private Rooms to Rent

Another option that is increasing in popularity is renting a private room in accommodation aimed at working 'professionals'. Normally all bills will be included in the monthly rent making it easier to budget and avoiding additional unexpected costs. Rooms for rent, aimed at professionals will normally have an ensuite and sometimes a kitchenette area.

Websites like Spare Room and RoomGo are good resources for finding a private room to rent.

Student Accommodation - 7 Questions to Ask When Renting

1. Does the rent include all bills and if not how are the bills divided between the occupants?
2. How much is the deposit and what are the deposit terms?
3. What are the rental terms for occupancy and do students need to leave the accommodation during the summer holidays?
4. How long has the property been rented to students?
5. What maintenance and repairs are the responsibility of the students or tenants?
6. Who to contact if repairs are required and how long will it take to send an electrician to repair any electrical faults?
7. What is the notice period?

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5. Graduate Salaries 2024/2025

Average graduate salaries vary by degree and region. Here is a rough guide:

Per Degree Subject

• Art: £20,000 - £23,000
• Banking and Accountancy: £30,000 - £40,000
• Business and Marketing: £25,000 - £35,000
• Computer Science: £30,000 - £40,000
• Education: £24,000 - £30,000
• Engineering: £28,000 - £40,000
• Law: £28,000 - £35,000
• Medicine: £32,000 - £45,000

Per Region

• London: £28,000+
• South East: £24,500
• Scotland: £24,250
• Wales: £22,500
• Northern Ireland: £21,650

RESOURCES

Luminate by Prospects

Save the Student

Student Finance for Undergraduates

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