STUDENT FINANCE IN ENGLAND, SCOTLAND AND WALES

When studying in a university, the expenses sustained can be broadly divided into two classes, namely, tuition fees and living costs. Tuition fees include the amount one has to pay for attending a course. It marks the expenditure you incur on your academic space within the college. Living costs will constitute expenses on accommodation, food, books and bills.
In Education Department of every State, a division is set aside to deal with the various elements of a Student’s financial life. Student Loans are those loans that are put forward to help economically weak students with their university tuition fees and in some cases, living expenses as well. These loans have a lower rate of interest than others and the repayment can be postponed while the student is studying. Apart from these common features, the specific regulations of the loans vary in different countries depending upon their financial and education policies. While these mortgages do help in expanding the realm of higher education to a larger section of the society, it has been found that the loan bearers often feel ‘victimized’ and fall into a debt trap consequently.
Grants are also provided by the government for students in financial need. What is the difference between a Loan and a Grant? While a loan has to be paid back, a Grant is an amount that does not have to be returned (as in ‘that which is offered’).

The following three websites can be used by the students for further details:

> England: Direct Government (www.direct.gov.uk)

> Scotland: Student Awards Agency for Scotland
(SAAS: www.student-support-saas.gov.uk)

> Wales: Student Finance Wales (www.studentfinancewales.co.uk)