We understand that prospective students and parents/guardians will often have questions about what funding is available to students, and how/when to apply. Our Money Advice team is here throughout the year to answer enquiries and provide support with planning a student budget, and we encourage you to get in touch if this Frequently Asked Questions feature doesn’t cover your query.
The advice below is generic advice to give you an overview of what support is available and how to apply. For specific advice based on your individual circumstances, contact us on
moneyadvice@cardiffmet.ac.uk or contact your funder directly on the details given below.
Applying for Student Finance
Q. I have applied for university – what funding is available to undergraduate students?
Most home undergraduate students are eligible for Student Finance funding to cover the cost of tuition fees (paid by Student Finance directly to the university) and support towards living costs (known as maintenance loans and/or maintenance grants, paid directly to students in 3 instalments, usually at the start of each term).
Q. How will I know if I’m eligible for support?
There are a number of eligibility criteria to be able to receive Student Finance: this includes your residency status (which UK country you have lived in, and for how long), the course you plan to study, your age (you need to be under 60 at the time your course starts to receive maximum eligible support), and whether you have studied at undergraduate level previously.
Q. I live in England but want to study in Wales – should I apply to Student Finance Wales or Student Finance England?
You apply to the funder in country where you normally live. Where you plan to study does not impact the funding body you apply to, e.g., if you normally live in England and are applying to Cardiff Met, then the funding body you apply to is Student Finance England. You can find links below to each Student Finance provider:
Q. How do I apply?
The easiest way is to apply online to Student Finance, to the funder in the country that you normally live in at the time of applying for university. For most Cardiff Met students, this will be either Student Finance Wales or Student Finance England. When you register, you’ll be given a unique Customer Reference number, and will need to create a password and secret answer. You will need these details every time you log into your student finance account.
When you apply, you will need your National Insurance Number and valid passport details, as the online application will request this. You will also be asked to provide contact details of the parent(s) you normally live with (or your partner if you live with them). These are known as your ‘sponsors’. Once you have made your application, Student Finance will contact your sponsors and ask them for their employment details and National Insurance number to help them work out how much Student Finance you are entitled to.
Once you have applied, you can log in at any time to check the status of your application, and any further information requested from Student Finance, and view copies of any correspondence that they have sent you regarding your application.
Q. When should I apply?
You can apply for Student Finance from the March before you start your studies. You don’t need to wait until you have a confirmed offer. Deadlines for applying for a guaranteed assessment and funding at the start of the new term in September is 21 June 2024 for Student Finance England and 25 June 2024 for Student Finance Wales.
You will also need to re-apply for funding for every year of your course. Online applications usually open in March each year, ready for the following September. To re-apply, sign into your Student Finance online account. If any of your details have changed e.g., bank account, contact details etc., make sure you update them in your application.
Q. Do I have to pay my fees from my Student Finance maintenance grant/loan?
No – when you apply for Student Finance, you will be applying for two separate elements:
- Tuition fee loan – this will cover the full cost of your annual tuition fees (typically £9,000 or £9,250 for full-time students each year), and will be paid directly to the university once you have attended and enrolled (the university will confirm this on your behalf).
- Maintenance loan/grant – the funding that Student Finance will provide directly to you to help with living costs while at university, such as rent and bills.
Q. How much will I get?
How much you get will depend on which funder you are eligible to apply to, if you live ‘at home, or ‘away from home’, and the combined household income of your parent(s)/partner you live with (except for students from Wales). For 2024/25:
- students applying to Student Finance Wales will typically receive £12,150 per year if living away from home to study, and £10,315 per year if living with parents.
- students applying to Student Finance England will receive between £4,767 and £10,277 per year if living away from home while studying, and between £3,790 and £8,620 per year if living with parents. The exact amount will be determined by the means test of household income.
You may also be entitled to additional practical help if you have a disability, mental health condition or specific learning disability (known as Disabled Students’ Allowance), or increased entitlement if you have dependent children/adult dependants. You will be asked to confirm this in your Student Finance application.
Q. What is a Student Finance household income assessment?
The household income assessment is a means-test which will determine different things for each funder:
- For Student Finance England applicants – the household income of the parent(s) or partner you live with will determine how much Student Finance maintenance loan you will receive – the higher the household income, the lower the Student Finance maintenance loan you will receive. For students with a household income of £65,000 or more, the lowest level of Student Finance maintenance will be paid.
- For Student Finance Wales applicants – although all students will receive the same amount of maintenance, regardless of household income, the household income of the parent(s) or partner you live with will determine how much Student Finance receive as a non-repayable grant, and how much as a repayable loan.
If you only live with one parent, you will be assessed on their household income, but if you live with a parent and a step parent, their joint income will also be included in the assessment. If you split your time between living with both parents, you will be asked to include the details of the parent you live with most of the time.
The mean-test will be based on their income earned in a previous financial year. For those starting university in September 2024, the financial year used for the assessment will be 1 April 2022 to 31 March 2023. If the household income of your parent(s)/partner has reduced by 15% or more since the financial year ending 31 March 2023, Student Finance have a process in place to allow you to be re-assessed on the household income of the current financial year – this is known as a current year income assessment. This can only be done once the previous financial year details have been provided first. You can find out more about this from your funder.
The household income assessment will not take into account any income from employment you earn before or during your studies.
Q. When will I receive my Student Finance payment?
Once your application has been assessed you will receive an award entitlement letter (a copy of this will also be available on your online account). This letter will advise of the dates you will receive your maintenance loan/grant instalments each term.
If you applied by the deadlines stated above, your first maintenance payment should be received in your first week of term. Sometimes students will experience a delay in receiving their Student Finance as not all requested information has been provided – examples of this include details of household income or marital status requested directly from students’ parents.
Q. I’ve studied at undergraduate level before and received Student Finance – will I be able to receive it again?
This will depend on how long you studied for previously, and whether there were any exceptional circumstances for leaving your previous course.
Also, if you are planning to study a course eligible for an NHS bursary, you may still be eligible for Student Finance even if you have studied before. The rules on this can be complicated so we advise that you contact your funder directly for advice specific to your circumstances.
Q. How do I contact Student Finance to discuss my application?
You can contact Student Finance on the following numbers:
- Student Finance Wales: 0300 200 4050
- Student Finance England: 0300 100 0607
- Student Finance Northern Ireland: 0300 100 0077
- Student Awards Agency Scotland: 0300 555 0505
Q. When do I have to repay Student Finance loans, and how much interest will I pay?
Interest starts accruing on Student Finance loans from the date it is issued to you. How much interest you pay will depend on what repayment plan you are on. You will find this information on your online Student Finance account once your application has been assessed.
You will not have to start repaying Student Finance tuition fee and maintenance loans until the April after you have finished or left your course, and only then if you are earning over the relevant salary threshold.
Graduates currently repaying undergraduate loans repay 9% of what they earn over the threshold each month, e.g., if you earn £26,000 per year and your repayment plan threshold salary is £25,000, you will pay 9% of £1,000 over the year in deductions made from your salary by your employer, so £90 in annual deductions. The deductions are made by your employer at the same time as income tax and National Insurance, and the amounts paid will show on your payslips.
NHS Bursary-Funded Courses
Q. I am planning to study a healthcare course where an NHS Wales bursary is available – how does the funding work?
Most students studying
eligible courses will have the option to choose between accessing funding via the NHS Wales Bursary Scheme or standard Student Finance funding.
NHS Wales offers bursaries to students, which cover all tuition fees with a non-repayable grant, a £1,000 non-means tested maintenance grant and a further means-tested grant up to £2,643 per year if studying away from home, or up to £2,207 if living with parent(s).
The bursary is applicable for students willing to commit to working in NHS Wales for at least 2 years after graduation. Applicants should be aware that the amount of funding available from the NHS Bursary Scheme and the Standard Student Finance funding will differ, and it’s important to spend time working out which option is best for you.
Q. Is there any other funding available if I take the NHS bursary?
Yes – students receiving the NHS bursary can also apply to Student Finance for additional non-means tested maintenance loans:
- Student Finance England – a Reduced Rate Maintenance Loan up to £2,670 (or £2,004 if living in the parental home during study)
- Student Finance Wales – a Student Finance loan up to £11,150 (or £9,315 if living in the parental home during study)
Please email us at
moneyadvice@cardiffmet.ac.uk for more information on applying for funding for NHS bursary courses.
Q. How do I apply for bursary funding?
The first stage is to
register your interest in the NHS Wales bursary-funded course you are interested in – you should do this regardless of whether you have chosen the NHS bursary funding route or the standard Student Finance route.
Once you have registered, you will receive further notice about when to apply for the bursary, or if you are opting out of NHS bursary funding, you will be given a code which you can use to progress your standard Student Finance funding. For those applying for both NHS Wales bursary and Student Finance maintenance, remember that this will need a separate application to each funder.
Q. How do I get in touch with NHS Wales regarding my application?
You can contact the team who administer the NHS bursaries directly:
Bursary Enquiries – Tel: 02920 905380
Childcare Enquiries – Tel: 02920 905381
Email:
abm.sas@wales.nhs.uk
BSc Social Work Funding
Students who already have a degree and want to study the Social Work course are eligible to apply for the maintenance loan and any relevant supplementary grants via their funding authority. However, students are not eligible to receive a maintenance grant or tuition fee support.
Students may also be able to access a Social Work bursary and help towards placement costs. Please see the following link for further information:
Social work degree funding | Social Care Wales (for students resident in Wales) and
Social Work – Apply for Undergraduate Bursary | NHSBSA (for students resident in England).
Budgeting
Q. How do I work out whether my Student Finance will cover my costs at university?
Not all students receive enough Student Finance to cover their essential living costs, and most students will either work part time, and/or receive support from family to help boost their income during university. We strongly advise you work out a budget before you arrive at university, to help you plan whether your expected income (including Student Finance, pay from part-time work, parental/partner support etc.) will cover your expected expenses (see below). This will help empower you to progress through your studies confident that you will have enough money to live on without falling into difficulties. We have student budget templates to help with this and will be offering webinars and one-to-one sessions for new students over the summer and during term time. Email us at
moneyadvice@cardiffmet.ac.uk for more details.
Q. What expenses should I budget for as a student?
This will depend on whether you are in Halls of Residence or are renting privately.
Essential costs will include rent, bills, food, toiletries/medication, transport, phone contracts, subscriptions, insurance and money for your social life. If you are renting from a private landlord, you will also need to factor in utilities (gas, electricity and water). If you are brining a car to university, you will incur additional costs for fuel, maintenance, parking and tax, etc.
If you are a full time undergraduate student, you should be eligible to apply for Council Tax exemption while you are a student.
Q. I’ve planned my budget and can see my Student Finance entitlement won’t cover my living costs – what do I do?
If your planned budget shows you won’t have enough money to get by based on your expected income and expenses, there may be a number of options open to you to make your budget work:
- Have a conversation with your family before you arrive, to see if they will be able to help you, and if so, how much and when. It may be useful to share this
Save the Student article with them to start the conversation.
- Start planning for what part time work you may be able to do, either during term time, and/or during breaks. Cardiff Met has a careers service who will be able to help with tips on finding part time work.
- Review your budget again – are you able to cut down your planned expenses for non-essential items? If you need help with reviewing your budget, please get in touch and we can help.
Q. Do I need a student bank account, and how do I pick one that’s right for me?
You don’t need one, but most students find the features available with student bank accounts can be beneficial. This can include interest-free overdrafts and other incentives such as free rail cards. You can find out more about student bank accounts from Save the Student.
Q. Is there any other financial help available?
UCAS has a
dedicated page with details of external scholarships, grants and bursaries that may be available. Cardiff Met also has a dedicated
bursaries and scholarships page for incentives offered by the university. For enquiries on bursaries and scholarships, contact
admissions@cardiffmet.ac.uk.
If you live in Wales and have young dependant children, you may be able to access up to 30 hours a week of early education and childcare for 3 to 4 year olds with the
Childcare Offer.
Cardiff Met also has a Financial Hardship Fund for those students who face an unexpected financial crisis while they are at university. Terms and conditions apply, and the fund is means-tested.
Care Leavers
Q. I am a care leaver – is there any additional support I’m entitled to?
You may be eligible to access a package of support that includes a £1000 bursary (and the
Study Life award).
Please see the following link for further information and the eligibility criteria:
Support for Care Leavers and Estranged Students.
Estranged Students
Q. I am not in contact with my parents – is there any additional support?
If you are studying without the support of your family and you are estranged from them, you may be eligible to access support, that includes £1,000 bursary (and the Study Life award).
Please see the following link for further information and the eligibility criteria: Support for Care Leavers and Estranged Students.
Need More Help?
Q. Where can I get more information?
Our Money Advice team can be contacted on
moneyadvice@cardiffmet.ac.uk. The team supports prospective and current students with advice and information on all aspects of funding, budgeting, money management and signposting/referrals for specialist money-related support such as debts, benefits and gambling.
For those with queries related to a specific part of the Student Finance application, we advise that you can contact Student Finance directly, on the numbers above.
