Two types of UK government student loans

Read on and be familiar with student loans that you can take advantage of.

09:23 16 May 2013

As the cost of education in the United Kingdom keeps getting more and more expensive every year, a lot of incoming students are finding themselves in need of financial help. If you’re one of them, you may qualify for UK government student loans.

There are basically two types of government loans available to students in the United Kingdom. The first one applies to tuition alone. Students who are taking undergraduate degree or are taking post graduation in teaching training are eligible to this type of loan. This is issued by the Student Finance Direct.

The second loan is designed to cover maintenance. Eligible students can use the money to cover accommodation fees, stationary charges, transportation fees, etc. This loan is also issued by the Student Finance Direct. The money is sent in three installments to the student’s bank account at the start of each term.

The amount that students can borrow will depend on several factors, which include the year of course, household income, and the place where the student is staying while pursuing higher education.