For most students, higher education marks the first time they become responsible for managing their own finances. But with study schedules making it difficult to find a job and tuition fees on the rise, it’s a common time for financial hardship and, in some cases, debt.
It can also be difficult to reach out for financial help as a student – especially if you don’t want to miss out on the university experience. So whether you’ve misspent your student loan or just want to know what your options are in the event of a financial emergency, it’s important to know what help is available.
How do student loans work in the UK?
Many people would be unable to even consider university if it wasn’t for student finance provided by the government. It can be the difference between attending university and exploring alternative routes into higher education, so it’s crucial you know how it works.
It’s typically split into two areas: tuition fee loans and maintenance loans. We’ve outlined both in more detail below:
Tuition fee loan
This loan covers the full cost of education in England, Wales, and Northern Ireland. For the 2025/26 academic year, the maximum amount universities can charge is capped at £9,535.
It is paid in instalments and is only required to be repaid after you graduate and earn over a certain amount. This amount changes every year and differs depending on which plan you’re on.
In Scotland, the government pays your tuition fees each month and they are non-repayable. This means that you don’t need to pay tuition each month or pay anything back at a later date.
Maintenance loan
This loan is designed to cover the various living costs associated with being a student.
It is means-tested and differs depending on where you live and which university you attend. For example, if you live away from home, study in an expensive city, and your parents are on a low income, you’ll likely qualify for the largest maintenance loan.
Here’s a brief guide to maintenance loan amounts for the 2025/26 academic year for full-time academic students who are not eligible for benefits:
| Living situation | Maximum loan | Minimum loan |
| Living at home | £8,877 | £3,907 |
| Living away from home and studying in London | £13,762 | £6,853 |
| Living away from home and studying outside of London | £10,544 | £4,915 |
| Studying a UK course overseas | £12,076 | £5,838 |
How much debt do you have?
Where can I access extra financial help for students (UK)?
If you receive student finance but are still struggling to afford your daily living costs, it’s important to know what other financial support is available. Here are your options if you’re studying and struggling financially:
Scholarships
Most universities offer academic scholarships for students who meet certain eligibility criteria. They are typically awarded to students who show academic excellence or talent in a specific area, like music or sport.
They can cover partial or full fees, living expenses, or a combination of both and don’t need to be repaid, significantly reducing the financial burden of going to university.
Bursaries
Bursaries are one-off payments that don’t need to be repaid.
They are commonly given to students who might otherwise struggle to afford university, but they can also be given as an incentive to encourage certain groups to apply for higher education or prompt people to study a particular field.
Grants
Grants can help with some of the living costs associated with attending higher education. They are typically given out by charities or trusts that represent underrepresented groups, such as disabled students or students from certain regions or countries.
Like scholarships and bursaries, they don’t need to be paid back.
Extra student finance
If you’re eligible for a maintenance loan, you might be able to access extra support. Depending on your circumstances, you might qualify for the following:
- Disabled Students’ Allowances (if you have extra costs due to a mental health problem, long-term illness, or other disability)
- Adult Dependant’s Grant (if you’re a full-time student and another adult depends on you financially)
- Childcare Grant (if you’re a full-time student and you have children under 15 or 17 with special additional needs)
- NHS Learning Support Fund, NHS Bursary, Social Work Bursary, or Education Support Grant (if you study a social work or healthcare course)
Many of these payments are automatically calculated when you first apply for your chosen course. However, if your circumstances change while you’re studying (e.g. your household income unexpectedly drops), you might become eligible for extra support.
What is a hardship fund?
Some higher education institutions offer extra financial support for students experiencing exceptional circumstances. The amount given to you will be decided by the individual university or college and, in most cases, it won’t need to be repaid.
This might be given to you if you’re a single parent, a mature student, from a low-income family, disabled, homeless, or you used to be in care.
To find out if your institution offers hardship funds, contact their student services department. They might ask you to provide details of your financial situation, which they’ll then assess to determine if you qualify.
“No fuss, just simple, honest advice. Communication is good and they make the process as easy as they can.”
How can I make my money stretch further as a student?
Being a student can take its toll on your finances, especially if you have no experience budgeting or living on a reduced income.
Here are some things you can do to make your money stretch further as a student:
Stick to a budget
Budgeting is key to making the most of your money – whether you’re a student or not. It allows you to track every penny of your income and outgoings so you know exactly what you’re spending money on and which expenses you could potentially cut down on.
There are various apps and guides available to help you create a budget from scratch. It can be as simple or complicated as you like and it can be adjusted over time as your circumstances change.
Cook at home
Being a student can make it difficult to find the time to cook and it can be easy to just grab food in between classes. However, there are some changes you can make to ensure you’re fueling your brain and saving money.
For example, batch-cooking at the start of the week can prevent you from eating out throughout the week if you know you have a healthy meal waiting for you at home. There are also various websites and cookbooks available aimed at helping students cook easy and cheap recipes that won’t take hours or break the bank.
Talk to your institution
If you’ve tried to make your money stretch as far as you can but you’re still struggling to make ends meet, it might be time to talk to your university or college’s student services. They will assess your financial situation and let you know if you qualify for any extra scholarships, bursaries, or grants.
Even if they can’t help you directly, they should be able to point you in the direction of local charities or organisations that might be able to provide the kind of support you’re looking for.
Debt help tailored to you
From writing off a large portion of your debt, to readjusting your budget, we’ll find a solution that suits you.
Conclusion
Being a student can be expensive. However, if you’re struggling financially, it’s important to remember that you’re not alone and that there is support available. Depending on your circumstances, you might qualify for additional funding to help you afford your living costs.
There are various student grants, bursaries, and scholarships available to both UK end EU students. Most of these payments don’t need to be repaid, meaning that you don’t have to set money aside to pay them back.
Whether you’re a part-time student or a full-time student, it’s worth doing your research to find out whether you’re missing out on any other help or support you’re entitled to.
