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Stephenson College in Coalville and Nottingham
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Supporting you

We appreciate that financial implications are an important factor when considering a higher education course. So you will be glad to know that studying a higher education qualification at Stephenson College will cost significantly less than attending university.

No upfront costs

When you choose to study a higher education course at Stephenson College, you don't have to pay for your course yourself upfront if you are studying for a degree for the first time, when you take out a Tuition Loan which is available for both Full and Part-time courses

You can get a loan to cover the cost of your tuition, which you only start to pay back when you are earning over £21,000 a year.

< Learned enough about finance? Find Higher Education Courses

How loan repayments are expected to work

You will begin to repay your loan from the April three years after the start date of your course, or the April after you finish your course if that's sooner. But you only start to pay back when you are earning over £21,000 a year.

You repay 9% of your income above £21,000. So for example, if your salary was £25,000, the 9% would only apply to £4,000, meaning you would repay around £30 per month.

The table below shows some salaries and typical repayments.

If your salary falls below £21,000, your repayments stop - for example if you take a career break or are unemployed. Repayments only start again when you earn over £21,000.

Loan repayments will be deducted from your salary, normally through the tax system.

Any loan you have not repaid after 30 years is written off.

Salary Amount of salary from which 9% will be deducted Monthly repayment
£25,000 £4,000 £30.00
£30,000 £9,000 £67.50
£35,000 £14,000 £105.00
£40,000 £19,000 £142.50
£45,000 £24,000 £180.00
£50,000 £29,000 £217.50
£55,000 £34,000 £255.00
£60,000 £39,000 £292.50

 

Applying for student finance

Student finance applications are found on the Gov website:

Part-time students - how and when to apply for 2014-15 >

Disabled Students Allowance

As a higher education student living in England, you can apply for a Disabled Students’ Allowance (DSA) if you have a disability, including a:

  • long-term health condition
  • mental health condition
  • specific learning difficulty, eg dyslexia

Disabled Students Allowance (DSAs) >

For more information on student finance visit the Gov student finance site:

DirectGov Student Finance Site

< Find Higher Education Courses