Undergraduate Students

Ordinarily no (eligibility determined by Student Finance) – in most circumstances, on application, funding of Loans/Grants are provided to cover tuition fees for the duration of your three or four-year course and these are only repayable once your annual salary exceeds £25,000*.

If you take a career break or your salary falls below £25,000, your repayments will stop.

Remember – after 30 years any remaining debt is wiped.

*For students who started university after 2012.

Yes – you can apply for two types of student loans:

1. Tuition Fee Loan – this is automatically paid to your university to cover the cost of your course.
2. Maintenance Loan and Grant – the second is a combination of a maintenance loan and grant, which are there to help with the cost of living (such as accommodation, books, food and other additional costs you may incur). Maintenance loans are based on household income and paid to you in three instalments during the academic year to help you manage your money.

Yes – student loans (both tuition fee and maintenance loans) are available for all students who meet the eligibility; visit the relevant website based on your nationality (see calculator links).

Tuition fee loans are available for the full cost of your course, no matter what your personal financial situation.

Maintenance loans differ slightly, in that they are means-tested (dependent on your parents’ salary and/or household income) and given in conjunction with maintenance grants (Welsh students only. These are non-repayable meaning you will never have to pay them back).

All Welsh students will be eligible for a minimum grant of £1,000 and additional grants will be based on household income. Students from households living away from home (e.g., in university student accommodation) with an income of up to £18,370 will be entitled to the maximum grant of £8,100 – which doesn’t have to be paid back.

English students are no longer entitled to a grant, but instead an increased maintenance loan to cover the cost of living.

For more information, please visit the relevant website in the ‘Where can I find out more information and apply?’ section below.

If you want to make sure that you receive the first instalment of your loan (and grants) when you start university, you must apply for your financial support as soon as you decide to apply to university, not wait until you are offered a place. Applications must be renewed each academic year.

If you should decide to leave your course early, you may be required to repay your tuition fee loans:

• You have a two-week grace period at the beginning of your course to change your mind and exit without being eligible to repay any tuition fees.
• If you wish to exit your course during the first term, you will be liable for 40% of your full academic year’s tuition fees*.
• If you wish to exit your course in the second term, you will be liable for 70% of your full academic year’s tuition fees*.
• If you wish to exit your course in the third term, you will be liable for the full academic year’s tuition fees.
• You will only be required to start paying back the tuition fee loan when you start earning £25,000 or above (see more information below).

For information regarding the repayment of maintenance loans, please contact your local student loan authority (Student Finance Wales/England/Northern Ireland/Scotland).

*If you are funded via Student Finance, we would only charge you up to the maximum fee support available, this may be under the amount of the above percentages.

You won’t be eligible to repay the loan until you graduate and begin earning; £25,000 if an English domiciled, or £27,295 if a SFW student; monthly repayments are 9% of everything you earn above this figure.

Loan repayments are taken from your ‘net’ pay through the Income Tax system. Therefore, like Income Tax and National Insurance, the money never actually makes it into your bank and if your income ever falls below £25,000/£27,295, you don’t get a job or take a career break, your payments will stop.

Further information can be found here: Repaying your student loan: When you start repaying – GOV.UK (www.gov.uk)

For more information on financing your way through university and to apply for the various loans and grants available, take a look at the websites below, depending on where you live:

• Welsh students: www.studentfinancewales.co.uk
• English students: www.gov.uk/browse/education/student-finance
• Northern Irish students: www.studentfinanceni.co.uk
• Scottish students: www.saas.gov.uk

You can also take a look at the following guide: Cardiff Met Guide to Fee Payments.

You can also contact our Student Financial Advisory Service by calling 029 2041 6170 or emailing moneyadvice@cardiffmet.ac.uk.

Finally, remember to come and visit us at an undergraduate Open Day, where you and your parents can find out more about Student Finance and ask our staff any questions you may have.