The cost of university

University, particularly given recent rises in tuition fees, is an expensive proposition. Such events may have been enough to put many off going to university altogether.

However, beyond the system of tuition fee loans and maintenance grants and maintenance loans many universities offer bursaries and scholarships which can really help ease the financial burden.

You do not have to repay these kinds of financial awards and applying costs nothing, beyond a little of your time. If after scrutinising the fine print of a scholarship or bursary, you can see the smallest glimmer of hope – then apply! You’ve got nothing to lose and everything to gain.

Bursaries

As a way of offsetting the introduction of a higher rate of tuition fees, the government mandated that universities must offer a certain number of bursaries to lower income students. If you are applying for a full maintenance grant then it’s certainly worth checking whether the universities you are interested in also offer bursaries. You may well be eligible.

Aside from this support to lower-income students, many universities offer bursaries which aren’t linked to the level of income support you are receiving. These might be available for people who have chosen a certain accommodation or even a certain course – again it’s easy enough to check, just send an email or make a quick phone call. Applying for bursaries can be done outside of SFE (Student Finance England) but many universities allow you to include a bursary application as part of your SFE application (More information is available on the SFE website).

Scholarships and grants

A further source of bursaries is the National Scholarship Programme which is designed to help students with a household income of less than £25,000 a year. Unlike other bursaries these cannot be included in an SFE application – you will have to apply to universities on a case by case basis. The good news is that all universities are part of this programme and you get up to £3,000 in your first year as a full-time student.

There are grants available for students in unique and challenging circumstances, either an Adult Dependant’s grant or a Childcare grant. The names of these grants should immediately suggest their function. The former is available for prospective full-time students who have adult dependants. The amount available depends on an assessment of your income, your partner’s income, if applicable, and the income of your adult dependants. £2,642 is the maximum available and, as with any academic grant, you won’t have to pay it back.

The childcare grant

This follows the same assessment procedure as the Adult Dependant’s grant but is for those with a dependant child under the age of 15 at the beginning of the academic year (or under 17 if they have special needs) who is in registered childcare. You may be eligible for coverage of up to 85% of your childcare costs during both term times and holidays.Both of these grants can be applied for through the SFE system and will be paid directly into your bank account.

Scholarships are really just a special case of bursary, but awarded in recognition for academic excellence. Again these vary from university to university. Your school may alert you to available scholarships and you can keep an eye out for them when you are researching potential universities. Competition for these awards will be fierce but beyond filling out a form and continuing to do well in your studies there’s not much you need to do to apply.

Check your budget

There are many ways offset the costs of university, particularly if you are coming from a low-income background. If you have previously dismissed university as too expensive and you weren’t aware of these options then it might be a good idea to reexamine your budget – perhaps higher education is something you can manage after all.