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Student Support For Welsh Students

Students who live in Wales may be eligible to receive support to study in higher education. The support is provided by Student Finance Wales in the form of a fee loan. The amount of the loan depends on certain criteria, including the amount of the Assembly Learning Grant the students may have received.

The Assembly Learning Grant is an income-assessed grant for students from low income families who are studying a part time university course. This is available to families with an income of less than £16,435 a year.

Student loans are paid in termly instalments at the start of each term. The amount that can be borrowed depends on the household income and where the student lives while studying.

Student Loan Amounts

For example, students who study in London, which has a higher cost of living than the rest of the country, usually receive more financial support than those who are studying outside London. The same is true of students living in London, who receive a higher loan amount than those living outside London.

In addition, students who are supported by their parents will receive a lower loan amount than those who support themselves ore are from low income families. Finally, students who live in student or other accommodation will receive a higher loan amount than those who live at home.

In Wales, part of the student loan amount is income assessed (25%) while the rest is non-income assessed (75%). The non-income assessed portion relates to the students' own income (if they are self-supporting) or that of their parents (if they are dependent).

Students who both live and study in Wales are also entitled to a fee grant of up to £1,800, which does not have to be repaid. This comes into force at the same time as the flexible tuition fees which many universities are introducing.

Additional Student Support

Students with disabilities and students with children may also be entitled to extra assistance to fund their university education. Full-time students with children may receive a childcare grant which varies depending on the childcare costs and the number of children. There is also a Parents' Learning Allowance to help with course-related expenses. Full-time students with adult dependants may also be able to get additional financial support.

To get a student loan, students need to apply online or through a paper form, identifying their student status and the institution where they plan to study.

Payback Time

Once students have completed the course, they need to repay the student loan. Repayments are linked to their earnings, so they earn over £15,000 a year before they begin repayments. Payments are taken from earnings before the deduction of tax. The repayments must be made at the rate of 9% of their income over the £15,000 threshold. Interest on the outstanding balance is linked to inflation and the retail price index.

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