If you’re a full-time higher education student, you may be able to get a non-repayable grant to help with accommodation and other living costs. These grants are called the ‘Maintenance Grant’ and ‘Special Support Grant’.
Maintenance Grant and Special Support Grant
If you normally live in Northern Ireland and are doing a full-time higher education course in the UK, you may be able to get help with accommodation and other living costs through the Maintenance Grant or Special Support Grant.
Whether you qualify, and how much you get, depends on your household income. You don’t have to pay them back, and you can apply for them at the same time as you’re applying for Student Loans, through the main student finance application.
New and continuing students may qualify for the Maintenance Grant or the Special Support Grant.
How much you can get
You could get up to £3,475 through the Maintenance Grant or Special Support Grant, if your household income is £19,203 or less.
If your household income falls between £19,203 and £41,065 you may be eligible to receive a partial grant, depending on the level of your household income.
If your household income is more than £41,065 you will not be eligible to receive a Maintenance Grant or Special Support Grant.
Which grant to apply for
The amount of help you can get through the Maintenance Grant and Special Support Grant is the same. If you get the Maintenance Grant, some of it is paid instead of the Maintenance Loan.
However, the Special Support Grant won’t affect how much you can borrow through the Maintenance Loan and won’t be counted as income when working out if you’re entitled to income-related benefits or tax credits.
The Special Support Grant replaces the Maintenance Grant for certain groups of students entering higher education on or after academic year 2006/2007.
To find out if you qualify see:
Contact your local Student Finance NI office if you’re not sure which grant to apply for.
How to apply
You apply for both types of grant throughstudent finance.It’s best to apply before your course starts, but you can still apply up to nine months from the start of the academic year.
How thegrants are paid
The Maintenance Grant and the Special Support Grant will be paid into your bank account by Student Finance NI at the start of each term at the same time as any Maintenance Loan.
Maintenance Loan
If you're entitled to a Maintenance Grant or Special Support Grant you're also eligible to apply for a Maintenance Loan. If you receive a Maintenance Grant the amount of Maintenance Loan you receive will be reduced. For more information on Maintenance Loans, see:
If your circ*mstances change
If your circ*mstances change, such as changes to your household income, you must tell your localStudent Finance NI office.
FAQs
SFE assess applications for maintenance loans based on household income. Therefore, students who do not provide their household income information are awarded only the minimum maintenance loan by SFE, which is currently £4,576 for new students.
What is the lowest maintenance loan? ›
What maintenance loan will I get?
| Student's living circ*mstances | Household earnings threshold | Minimum maintenance loan |
|---|
| At home | £58,291 | £3,698 |
| Away from home and outside London | £62,343 | £4,651 |
| Away from home and in London | £70,040+ | £6,485 |
Aug 25, 2023
This maintenance loan is paid directly into your bank account in three instalments per year, one at the start of each term. You have to pay this maintenance loan back once you're earning above a certain amount. These amounts may be higher if you're eligible for benefits.
How can I get extra student loan money? ›
Request Additional Federal Student Loans
If you've exhausted other options and still need additional funds to help you pay for school, contact your school's financial aid office to find out if you're eligible for additional federal student loans.
What is the maximum amount of student loans you can get? ›
$57,500 for undergraduates-No more than $23,000 of this amount may be in subsidized loans. $138,500 for graduate or professional students-No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.
Why does my student loan balance never go down? ›
The amount you owe on your student loan decreases with each payment towards the principal. However, minimum payments generally only go toward interest and not necessarily the full amount of interest, which can cause your balance to go up every month even when making those minimum payments.
What's the highest maintenance loan? ›
What's available
| Student's living arrangements | Maximum Maintenance Loan for the 2023/24 academic year |
|---|
| Living with parents | £8,400 |
| Studying in London and not living with parents | £13,022 |
| Studying outside London and not living with parents | £9,978 |
| Living and studying abroad for at least one term as part of their UK course | £11,427 |
If you live on campus, your student loans can help cover living expenses up to your school's cost of attendance (COA). You can also use the funds to pay for living expenses off campus, including: Rent. Transportation (gas, parking fees, bus fare, etc.)
Is it better to take out a student loan or use savings? ›
If your loan interest rates are low and fixed, you may want to prioritize saving over paying off your loans. On the other hand if your loans are high-interest, or you don't have a plan to get a good return on your savings, paying off your loans may make more sense.
Do student loans go to your bank account? ›
Typically, student loans do not get deposited in your bank account. Instead, the loans are disbursed directly to the school where it is applied to tuition payments and room and board.
Federal borrowing limits for independent undergraduates
| Year in school | Overall borrowing limit | limit |
|---|
| First year | $9,500 | $3,500 |
| Second year | $10,500 | $4,500 |
| Third year and beyond | $12,500 | $5,500 |
| Total limit | $57,500 | $23,000 |
The average monthly federal student loan payment for recent bachelor's degree-recipients is about $300. People generally borrow more and have higher interest rates for graduate degrees.
What happens to leftover FAFSA money? ›
Typically, the school first applies your grant or loan money toward your tuition, fees, and (if you live on campus) room and board. Any money left over is paid to you directly for other education expenses.
What can I do with leftover grant money? ›
Once the fall and spring semesters are complete, you might still have money left over from your Pell Grant that didn't get applied toward your college expenses. If that's the case, your school may issue you a refund of the remaining balance.
What is the 120 day rule for student loans? ›
Federal loan funds that are returned within 120 days of disbursem*nt will have all origination fees and accrued interest negated off of the amount returned. Returning monies this way will directly reduce the principal of the loan.
Why is my maintenance loan less? ›
In your final year of uni or college, you'll get less Maintenance Loan than you had in other years. This is because student finance usually covers the breaks between each year, but you're no longer entitled to it once your course has ended.
Why did my student loan balance change? ›
Account Balance
Here are some of the reasons the total amount you owe on a loan may have increased: Unpaid interest may have been capitalized at the end of a period of deferment or forbearance or under certain other circ*mstances (capitalization is the addition of unpaid interest to the principal balance of a loan).
Why is there no maintenance loan for Masters? ›
Can you get a maintenance loan for a Masters? No, you do not get a maintenance loan for a Masters. The Masters loan system works differently to undergraduate student finance, which does have a maintenance element. Postgraduate student finance is provided as one loan to help with tuition and / or living costs.
How are student loans calculated? ›
Most student loans use a simple interest formula. This formula essentially multiplies three factors: your student loan's daily interest rate, outstanding loan balance and the number of days in your billing cycle. Most borrowers have federal student loans, which have a fixed interest rate.
