| Full Year 2010/2011 | Final Year 2010/2011 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 100% | 75% Non Means-Tested |
25% Means-Tested |
100% | 75% Non Means-Tested |
25% Means-Tested |
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| Students Living Away From Home: | ||||||||||
| in London | £6,928 | £4,988 | £1,940 | £6,307 | £4,541 | £1,766 | ||||
| elsewhere | £4,950 | £3,564 | £1,386 | £4,583 | £3,300 | £1,283 | ||||
| Students Living At Home: | ||||||||||
| £3,838 | £2,763 | £1,075 | £3,483 | £2,508 | £975 | |||||
| Notes: | Applies to students normally resident in England or Wales. The APR for 2010/11 is 1.5% (wef 1.9.10). It is adjusted in line with the March Retail Prices Index or the highest base rate of a number of major banks plus 1%, whichever is lower. For loans taken out before 1998, it is adjusted annually in line with the March Retail Prices Index and is 4.4% (w.e.f. 1.9.10). Most borrowers currently repay over 5 or 7 years. Monthly repayments commence in April following completion of course. New system: Income contingent for students applying after 1998. Loan is means tested & repaid at 9% over current income threshold of £15K gross pa. Old system: Mortgage style for students applying before 1998. Current deferment threshold is £26,449 gross pa or £2,204 pm. For a student whose home address or base is in Scotland, the Scottish executive has put in place a separate package of grants and awards. The Graduate Endowment Scheme is exclusive to Scotland and it provides for an entirely different approach. For a student normally resident in Northern Ireland different rules also apply. The loans are made by Student Loans Company Ltd, 100 Bothwell Street, Glasgow G2 7JD. Tel: 0800 405010. Website: www.slc.co.uk or www.direct.gov.uk/studentfinance.
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| Source: | www.moneyfacts.co.uk | |||||||||
| Rates correct as of: | 4 September 2010 | |||||||||
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