University funding Scotland?

[courtneyseb]

So DC has decided they may want to go to Uni next year, this hasn't been part of the plan all along as they were going to join the Army. I have no idea how Uni works and how they finances are.

DC will be living at home as university is local to us; but how does the funding work? Does anybody have any idea how much they will be able to claim/borrow to get through the year? I think my income has something to do with it; I earn minimum wage for part time hours atm so rely on a tax credit top up.

Are you in Scotland?there is residence eligibility criteria. need to be ordinarily resident in Scotland (so not just here for schooling) for at least three years prior to starting your university course.
Scottish students don’t pay fees

If you are going to university in Scotland, You can be charged up to £1,820 per year for tuition. The Student Awards Agency for Scotland (SAAS) will pay this in full if you are eligible. You must reapply to SAAS every year of your course.

Students under 25,apply for loans and a means tested bursary
You may also be able to apply for the Young Students' Bursary. This is non-repayable. The table below shows what young students are entitled to.

You may also be able to apply for the Young Students' Bursary. This is non-repayable. household income is assessed for bursary. It’s a sliding scale based on income

Link about student funding Scottish student funding

Yes we are in Scotland - thank you so much will take a look at the link now

The interest rate charged on any loans is different too: only base rate, so currently 1.5% iirc.

The SAAS website is quite good and they're also very helpful if you call.

Thank you

I had a look and I think she may be eligible for the highest amount which will help.

How on earth do student who live away from home manage? Is there other finance options for rent etc?

The higher level loan and bursary should be plenty to pay for rent and living costs. That's what we've worked out as a suitable amount for ds who will be up at Aberdeen. not enough for the ensuite accommodation though (He has reluctantly applied for the 5 person flats with two loos per flat )

I can't see how that could work at all, halls seem to be over £400 a month, then food, books, travel etc

Maximum loan plus bursary is £7,625 (which reduces to a minimum of £4,750 with means testing), so we've used that higher amount as the basis of ds' budgeting and will top up as required. When he agreed to the non ensuite accommodation (which saves him something like £1400 a year ), I don't think that he realised that the killer argument "How much is the cost of the Aberdeen Sports Village?" (Answer £250 per annum) was one that it was going to be his money that would be paying I think he thought we were threatening not to pay it - but he is the one who's going to have to learn to budget

Once he's paid for his student accommodation, he'll have something like £3,300 left for the academic year. Holidays and so on he'll have to get a job - plus if he spends more than c£80/week on food, socialising, books Aberdeen Sports Village membership and travel, he'll need to work out how to earn extra