Get Abroad Education Loan At Affordable Interest Rates

3M+ Users

800 Cr. + Disbursed

15+ Lending Partners

30K+ Students Counselled

What Is A Student Maintenance Loan And Other Questions About It

Student Maintenance Loan

Adverts regarding student loans are not hard to come by. You see them everywhere from outside banks to public transport. But what are student loans and what do they help with? Student loans are of two types, one helps you with your tuition fees and the other type is a  student maintenance loan which helps reduce the burden of your household expenses. Maintenance loans have become a necessity for students who are enrolled in vigorous courses which do not leave them time to take up minor jobs post-university hours. While the basic concept of a maintenance loan is self-explanatory, there are quite a few nuances to understand regarding the eligibility, repayment, amount provided and much more. In this article, we look to discuss these various facets of a student maintenance loan.

What Is A Student Maintenance Loan?

A maintenance loan is essentially financial support that is provided to students to help diminish the burden of their household expenditures. This designated amount that you are eligible to receive helps cover your living costs. The maintenance loan is transferred to you in three instalments during the months of January, April and September. 


There are certain eligibility criteria that you have to meet in order to avail of a student maintenance loan. Below listed are the same. 

  • In the United Kingdom, only UK nationals can apply for a maintenance loan. Students belonging to any European Union country who have lived in the UK for more than 3 years can also apply for the loan. Other international students are not eligible to apply for a maintenance loan. 
  • You can apply for the maintenance loan as student finance if you are a new full-time student, or are a couple of years into your university degree. Part-time students can also apply for a maintenance loan. 
  • In certain cases, students above the age of 60 are not eligible to apply for the loan while sometimes they are eligible to apply for a smaller maintenance loan. 

How Much Do I Get and What To Spend On?

For starters, the amount that you can avail of depends on a variety of factors primarily, your household income and whether you are living away from home or with your caregivers. The maximum loan amount that can be issued to a student is £9,706 a year. While this might seem a more than comfortable sum, students should ensure not to get carried away and spend on unnecessary leisures. 

This is where building and adhering to a budget comes into the picture. Structuring a budget that dictates either your daily, weekly or monthly expenses is essential because this encourages saving and even helps curb unnecessary expenditures. 

Now coming to the expenses a student maintenance loan covers, the following is a list of living costs. 

  • Rent (this cost applies only if you are living away from home)
  • Utility bills (gas, electricity, water, etc.)
  • Food and Groceries
  • Transportation costs (daily ticket charges or even a monthly pass)
  • Household items (Toiletries, kitchen items and others)
  • Leisure (social events, entertainment, shopping, restaurants and others)
  • Books

Students always need to have a budget framework to help navigate daily or monthly expenses. Many times, students get carried away looking at their renewed bank balance but it is imperative to structure your expenses in a way that you are left with a decent amount after spending on the above items. This helps avoid a financial crunch which can prove to be a bit stressful while at university. 

Who Provides A Student Maintenance Loan?

After gaining some decent insight into what a maintenance loan is, how it works and what costs it covers, let us understand who provides a student maintenance loan. 

  • The body that provides the loan is Student Finance England. The organisation not only provides a student maintenance loan to help shoulder day-to-day living expenses for university students but also provides tuition loans for those who are eligible. 
  • The loan amount is transferred directly into the student’s bank account during three instalments in the year, usually during the months of January, April and September. 
  • The loan amount you are eligible to receive is determined by your household income and living arrangements i.e if you are living away from home or with a parent or guardian. 

Repayment Of A Student Maintenance Loan

The repayment process for the loan can seem a bit complicated on the surface. Firstly, you can only start to pay off your loan upon the completion of your course. Another primary requirement is that you have to earn above the threshold of £27,295 to be eligible to pay off the maintenance loan. If you are self-employed, you can simply file for repayment at the time of your tax returns. If you are employed elsewhere, your repayment amount will simply be deducted from your pay slip like a tax. 

If you found this blog on “Student Maintenance Loan” informative and helpful, make sure to check out our other blogs. 


1. What are the benefits of maintenance loan?
The benefits of a maintenance loan for students include helping cover living expenses, such as accommodation, food, and other necessities while pursuing higher education.

2. What is the system of student loan?
Education loans involve direct payment of the loan amount to the institution at the semester start. They cover tuition fees and other expenses like library, hostel, books, and laboratory fees.

3. How many times can you get maintenance loan?
You will receive your maintenance loan payments in three instalments, distributed equally throughout the academic year, with one payment at the beginning of each term.

4. What are the two types of education loans?
Lost Againts Property and Against Securities are the two types of education loans.

5. What is the difference between student loan and education loan?
Students typically have a grace period before starting loan repayments. Education loans are unsecured and cover various educational expenses like tuition, books, living costs, transportation, etc.

Recent Posts

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top

Share this blog

Student Maintenance Loan

What Is A Student Maintenance Loan And Other Questions About It

🚀 Over 5K Students Secured Abroad Education Loan With UniCreds!