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Student loan payment dates for 2014 / 2015 and student loan information

Going to university can be daunting, but it's far scarier if you don't know how you'll pay for everything. The student loan payment dates for 2014 / 2015 haven’t been released as yet but we’ve got all the information you’ll need to know before appling for tuition fee loans, maintenance loans and course grants for living costs.

Student loans

Looking at directgov student loans will give you an overview of how the process works. These credits and maintenance grant payments are normally made in September, January and April. Tuition fees are traditionally paid in October, February and May.

Tuition fee loans

English or EU students in full or part time education can apply for a tuition fee loan. Full time students can get up to £9,000 a year while those studying part time can borrow £6,750.

Maintenance credits for living costs

This type of loan is only available for pupils under the age of 60 and is paid directly into your bank at the beginning of term. The amount you can borrow depends on your circumstances so if you’re living at home you can borrow up to £4,418. If you’re living away from home and you’re going to university outside of London you can borrow £5,555, while students in the same circumstances that are attending a London university can get £7,751. If you’re spending a year of a UK based course living in another country, you can borrow £6,600.

Maintenance grant for living costs

Cost of living

Another way to meet the cost of living while studying is to get a maintenance grant for living costs. This is a grant so you won’t have to pay it back, but it’s means tested so your household income is assessed before the grant is given. You’ll find a student finance calculator on the gov.uk website that will help you estimate how much you’re entitled to.

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Low income

The government offer extra help for students from a low income background. Student loan payment dates for 2014 / 2015 aren’t as important as finding out ahead of time how much you’ll have to play with from grants and how much you can borrow from the student loan company, so you should start your homework now.

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