September 23, 2019
Student Finance in a Nutshell By Amy Liston
Photo courtesy of Amy ListonSource: Student Finance in a Nutshell | Xpress Jobs
As we get into the new terms for education, it’s good to know what decisions to make in order to so that next year can be a little easier. If you’re learning new things, meeting new people, moving into student accommodation, (and finding new bars…), why let money become a prominent feature of your worries?
It’s good to know some of the loans and funding available, but before we do that, we need to know what types of student funding there are!
Types of Student Funding
A grant is a sum of money provided by a government agency, company, or even a person that doesn’t need to be paid back.
Bursaries are typically given to students of a lower income or on specific courses and are normally awarded on a first-come-first-serve basis.
Similar to a grant, the bursary typically doesn’t need to be paid back unless the circumstances change.
This is a financial award given to students based on their academic and personal achievements.
These are harder to come across, but courses sponsored by companies can not only pay your fees, they also provide your salary, as you’ll be working at the same time as studying.
More On Student Financing
Peering through a change jarSource: Student Finance in a Nutshell | Xpress Jobs
Regardless of the name, all these loans do very similar things – it just depends on which one fits you and your circumstances best. It is important to note that loans and eligibility may vary dependent on location as things work differently in Scotland and England etc.
If you’re in Scotland, the first means of funding you probably learned about before branching off from school to higher education was SAAS (Student Awards Agency Scotland), which is an agency of the Scottish Government that provides financial support to students; both undergraduate and post-graduate. You can find the application process here.
When it comes to typical student finance, there are different avenues to take depending on if you’re new full-time, continuing full-time or part time.
Your tuition fee loan will be paid directly to your place of education and you’ll have to pay it back; your financial figure will be dependent on your student role and your accommodation, household income and/or your course intensity.
As a new full-time student, you will be eligible for up to £9,250 per academic year (2019-2020). Continuing full-time is the same, and part time can get you up to £6,935 per academic year.
What is Eligibility?
Filling out paperworkSource: Student Finance in a Nutshell | Xpress Jobs
Your eligibility can depend on the following:
Your place of education, your course, age, location and if you have been in higher education before. Some students make the mistake of not checking – have a look in case, otherwise you could be missing out on some money!
(You can check your eligibility for these loans, along with additional information here.)
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This entry was posted in Blog, Advice, Blog, Back to School, Blog, Finance, Blog, Guest Content, Hot Stuff, Blog, How To, 2019, Fall 2019, September 2019 and tagged in advice, advice blog, amy liston, amy liston blog, amy liston designs, amy liston writer, amy liston xpress jobs, back to school, blog, blogging, blogging community, blogging submission, burgundy zine, burgundyzine, burgundyzine.com, bursaries, college, college advice, college lifestyle, college students, college tips, finance, financial advice, financing, grants, guest content, guest writer, guide, guides, higher education, hot stuff, how to, loans, scholarships, september 2019, sponsorships, student finance, student finance explained, student finance guide, student finance in a nutshell, Student Finance in a Nutshell By Amy Liston, student finance options, student financial advice, student loan, student loan options, student loans, student loans explained, submission, the burgundy zine, writing submission, writing submissions, xpress jobs, xpress jobs blog, zine, zines.
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