in England, how do students manage to pay fees and living costs?

[ssd]

in Scotland our kids fees are paid and they can take out a student loan up to around £4-5k to help with living costs, depending on the family income

what do English students do if they arent getting help from family, are the student loans there available for higher amounts?

[AndNowItsSeven]

Yes up to approx 8k.

[titchy]

They do the same as Scottish students and take out loans. If you're only entitled to the minimum loan and your parents refuse to help you , you're in trouble, same as for Scottish students, and have to find time for a job as well as study.

The only difference between England and Scotland is the fees. for now

[ssd]

but if course fees in England are £9k, why are the loans up to 8k?

[LetitiaCropleysCookbook]

There are two separate loans - one for full tuition fees of £9K, and one for maintenance, which is what I'm assuming is the £8K max referred to?

[anyname123]

You pay the course fees after you graduate, so it is a loan but is repaid almost like a tax, a certain % of salary over whatever threshold. It would be foolish to pay course fees in advance as lots of people don't ever fully repay them anyway (according to Marine Lewis, I'm a bit in love with him). So the 8k is for living, the course fees get paid post graduation.

[Heratnumber7]

Just to add that it's £9k PER ANNUM, and looking set to rise. Kids come out of university with huge debt these days. All wrong IMO.

[titchy]

Yes two separate loans. One for fees, one for maintenance. So up to £17,500 a year.

[LetitiaCropleysCookbook]

Naively, I didn't realise, until I went to ds1's 6th form meeting on financing university studies, that interest accrues on the loans from the start of the course until the last payment is made.

[LetitiaCropleysCookbook]

Repayment, that should say, i.e. when the loan is paid off.

[anyname123]

Isn't it at the rate of inflation though, so in real terms nothing gets added on? Or have I completely misunderstood?

[LetitiaCropleysCookbook]

I'm not sure, but that would only work if income increased with the rate of inflation, wouldn't it? Hopelessly ignorant about financial matters, so grateful for any simple explanations! Whatever the interest situation, it's a hell of a lot of money to owe, age 21.

[boys3]

always a useful starter, and definitely worth a read

www.moneysavingexpert.com/students/student-loans-tuition-fees-changes

[HereIAm20]

"You pay the course fees after you graduate, so it is a loan but is repaid almost like a tax, a certain % of salary over whatever threshold. It would be foolish to pay course fees in advance as lots of people don't ever fully repay them anyway "
^^^
re this - not strictly true the tuition is paid each year and your loan starts and interest accrues from day 1 pretty much - it's just the student doesn't start to repay until they are working and earning a certain amount.

[anyname123]

Letitia, the way it was explained to me is that whatever a bag of chips (for example) costs you today, you can still buy the bag of chips with whatever you pay back. Aaargh this is really hard to explain (someone very clever explained it to me in a way that makes sense), but yes I agree. I would hate to be in that much debt when just starting out, it does seem massively stressful

[AndNowItsSeven]

Sorry op I meant the maintenance loan as you asked about living costs.

[ssd]

thanks all