Student Maintenance Loans
As well as tuition fee loans, there are student loans available for maintenance.
Is everyone eligible for a full Student Loan?
No, maintenance loan amounts are tapered in two ways.
- Students from lower income families will have their maintenance loan reduced by up to £1,270 (2009/10) because they will be receiving the Low Income Maintenance Grant or the Special Support Grant. This means they will have more granted funds, and lower amounts needing to be repaid.
- Those from higher income families will have up to 25% of their loan amount reduced since parents are assessed as having to make a contribution of up to 25%.
The following are NOT eligible for student maintenance loans:
- Students aged over 60 years at the start of the course
- EU / Overseas students (although EU students can get tuition fee loans only)
- Students from the Channel Islands and the Isle of Man
How will I receive my loan?
The student loan is paid in three instalments, directly into students' bank accounts.
The first instalment will be paid into your bank account after you have enrolled on your course. Once you have enrolled and provided evidence of your student support number to the Helpzone, the Student Loans Company will be informed and your payment will be activated. The following two instalments will be credited to your bank account in January and April.
How are the loans repaid?
Student loans for both maintenance and tuition fees are not repayable until after your course is completed and your earnings reach a certain threshold (currently £15,000 gross per annum). Repayments are deducted from your salary along with your income tax at the rate of 9% of your income over £15,000. This percentage is the same regardless of how many loans you have outstanding. If you are not working, or your income drops below £15,000, you pay nothing.
Non-repayable Grants
Students whose family (or partner’s) residual annual income is below a government defined threshold (increased to £25,000 per annum for 2008/09) will be eligible for a means-tested non-repayable Maintenance Grant of approximately £2,900 per year. Those students with an annual household income of up to £50,000 may still qualify for some non-repayable support. The government anticipates that around two-thirds of all new full-time students are likely to be eligible for a full or partial grant.
Other grants for students with dependants
There is a range of supplementary grants available to students with dependants; childcare grant, parent’s learning allowance and an adult dependant’s grant may be available to those on a low income.
Disabled Students’ Allowance
South Devon College welcomes and supports students with disabilities, including dyslexia, and endeavours to meet your specific needs. If you have a disability, you may be entitled to the Disabled Students’ Allowance which could give you access to technology and support for study. Contact the University of Plymouth’s Disability ASSIST Services on 01752 232278 or the South Devon College Helpzone for further information.
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