What is it all going to cost?

Going to university or college is potentially one of the biggest investments your son or daughter will make. You need to know how much it will cost them and what help is available.

There are two main elements to student finance: the tuition fees payable to the university or college and the money required to cover living expenses or 'maintenance'. Some financial help is means-tested, which means that the amount given to your son or daughter is based on your household income.

This section gives a brief summary of the costs involved and the support that is available. See also student finance for further information.

Tuition fees
Amounts vary from one institution to another - if a student loan is taken out, tuition fees are paid direct to the university or college on the student's behalf.

Grants
For living expenses - means-tested and non-repayable.

Bursaries
Institutions that charge maximum tuition fees also offer non-repayable bursaries to students who receive the full grant.

Student loans
Means-tested, interest-free and repayable - the maintenance element is paid to the student and the tuition element is paid direct to the institution.

Useful websites
Places to go for further information about finances.

Equivalent and Lower Qualifications (ELQ's)
On 7 September 2007, John Denham, The Secretary of State for Innovation, Universities and Skills, announced that from 2008/09, funding would no longer be provided to students from England and Northern Ireland who study for a qualification that is equivalent to, or lower than, a qualification they already hold. Certain courses will be exempt from this policy such as teaching, nursing and social work.

If you are unsure about whether your previous study affects your eligibility for student finance, speak to your local authority, college or university.

For further information regarding funding please visit www.dius.gov.uk/publications/hefunding.html.