Student Finance and Funding from 2012

Watch our video - The Facts about Student Finance from 2012

Invest in your future

Base your decision about whether to go to university on your aspirations, not misconceptions about changes in student finance.

Find out the facts and you'll discover you can afford to go to university if you want to.

Why are tuition fees being increased?

The way universities are funded is changing
Before 2012 the government paid more towards the cost of higher education
The government has cut funding for universities, leaving students to make up the difference
In order to maintain a high quality education with investment into a great student experience, most universities are having to charge higher fees

We're investing in your future

Here at Bradford our motto is 'Making Knowledge Work', which in practice means your future is our top priority
We’re investing in our high quality learning and teaching environment with a major focus on employability and delivering high levels of student satisfaction

Can you afford to go to university?

Firstly, remember you don’t need cash to go to university
Tuition fee loans are available for all students who have not studied before
There are also loans and grants available for your living and learning costs
If you’re leaving home to go to university you could get up to £7,125 each year
At Bradford we’ll be offering a range of scholarships and fee waivers to help with your time at university

How do repayments work?

You’ll make no repayments on any of your student loans until you finished studying and are earning over £21,000
Your repayments are linked to what you earn, not what you owe
The repayment system works more like a graduate tax than a traditional loan
The cake chart below shows how an annual salary of £25,000 will be divided - per month it works out at £458 for tax and national insurance and just £30 for student loan repayments

A 'cake chart' illustrating a £25k salary and student loan repayments

Try out the (External) Student Finance calculator on moneysavingexpert.com to find out what your repayments could be
Bear in mind you will end up paying more than you borrowed due to interest.

What if your circumstances change?

If your salary drops below £21,000 or you take a break from work your repayments stop , and after 30 years anything you owe will be written off
Your student loan won’t affect your credit rating and shouldn’t affect your ability to get a mortgage

Will there by an early repayment charge?

The government has recently confirmed there will be no charge on graduates repaying their loans early. (External) Read the full press release about this (external link)

Is it worth it?

Graduates earn more
Graduates have a greater job choice
Going to university can be a life changing experience

If you have an aspiration that higher education can help you achieve, can you afford not to go to university?

Watch the new student finance film from the Department for Buiness, Innovation and Skills (BIS)

This film features year 13 students, recent graduates and Martin Lewis of moneysavingexpert.com discussing the facts of the new student finance system.