Your son or daughter should apply for student funding as soon as the finance application process opens. This is usually in the March before their course starts.
It is important to apply early to ensure that the application can be processed and the money made available in time for the start of the term.
Below, you will find answers to some of the frequently asked questions about student finance.
When will my son or daughter have to start repaying their loan?
Your child will enter repayment the April after they graduate or the April after they withdraw from their course (whichever comes soonest.)
They will only start repaying once their earnings exceed £25,000, and if their earnings drop below this at any time, repayments will automatically stop.
If they have taken out both a tuition fee loan and maintenance loan, the two loans will be combined and repaid as one.
Please see Student Finance England's leaflet How your child repays their loan for more details.
How much will my child have to pay for the student loan?
Student Finance England state:
The amount they repay depends on their income, not what they borrowed. They’ll repay 9% of any income over the current threshold. If their income falls below this, their repayments will automatically stop.
| Income each year before tax | Amount repaid per month |
|---|---|
| £25,000 | £0 |
| £30,000 | £37 |
| £35,000 | £75 |
| £40,000 | £112 |
| £45,000 | £150 |
| £50,000 | £187 |
Any loan remaining 30 years after they are due to start repaying will be cancelled.
Please see Student Finance England's leaflet How your child repays their loan for more details.
Please note that students on some courses will incur additional course costs on top of their tuition fee. For instance, there may be costs for art materials, lab equipment, field trips, books etc.
Your son or daughter should enquire directly with their chosen university to find out if there are additional costs associated with the course they would like to study.
If your child chooses to study at the University of Hertfordshire, any additional costs will be outlined in the Course Factsheet on the Course pages of our website.
If my child leaves their course early or changes to another university, what happens to their student finance entitlement?
Any changes to course, mode of study, university or any repeat years will affect your child's funding allowance. It's vital they seek proper advice before making any major decisions or changes, and to get this advice in writing.
If your child changes university or course, the amount of funding they receive could change depending on whether or not they study in London, and the number of weeks the course runs for.
If they leave one university and start at another, they could also be put on to a new support package if the package has changed.
It's a complicated issue, and we recommend they seek proper advice before making any academic decisions.
My child has been assessed for their maintenance and it's not enough to cover their costs. Is there anything that the university can do to help?
We offer a UH bursary for students from low income families. Read more about the UH Bursary.
In addition we can offer budgeting advice from Blackbullion to enhance financial training for all University of Hertfordshire students.
The University of Hertfordshire also has a Hardship fund, which is intended for students who have received their full statutory funding and are still struggling financially so we can also offer Emergency Loans and Delayed Funding Loans, for when the unexpected happens.
Does my child's student loan affect their credit rating?
Your child's student loan will not affect their credit rating, and won't show up on a credit report either.
When your child applies for a mortgage, their loan repayments may be taken into consideration in terms of calculating their net income.
You may also like to consider the following in regard to your son or daughter's application for student funding:
What information do I need to provide when my child is applying for student finance?
This depends on your circumstances, your income and the number of child dependants you have.
If you need to provide proof of earnings, this could take the form of your P60 or Self-Assessment tax return, and your National Insurance number.
You will also have to give evidence of any taxable state benefits, pensions or any income from UK and foreign investments.
I'm a divorced parent. How does this affect my child's finance application?
If your child does apply for income-assessed support, they will be asked to give the financial details of the parent that they 'normally live with'.
If that parent is married, in a civil partnership, or living with a partner, that partner will also need to provide their details.
Am I expected to contribute towards my child's university costs?
The amount of maintenance loan your child receives will depend on your household income.
The more you earn, the less your son or daughter will receive and the expectation is that you will contribute towards any shortfall.
You can find further information about how much you might be expected to contribute by reading the Which? Conversation article: Do you know how much you’re supposed to give your kids for uni?
If our financial circumstances change while my child is at university, will this affect what they receive?
Your child's entitlement is based on household income for the previous tax year. So, an application for finance for September 2018 will look at your income for the tax year 2016/17.
However, if your household income is at least 15% less than it was in the previous tax year, you can apply for a Current Year Income Assessment. This will review your expected income for the present tax year.
If I have more than one child at university at the same time, does this affect what they'll each receive?
For each additional dependant child in higher education, Student Finance England will deduct £1,130 from the total household income that they base their assessment on.
For example, a family with a household income of £58,000 and two dependant children at university, will be considered to have a household income of £56,870. This reduction could push you into a lower household income bracket, meaning your children could receive a bigger maintenance loan.
Should I help my child repay their loans earlier?
Loans accrue interest from the day they are issued until the day they are paid off in full or written off (currently after 30 years). Once your child has left university, the loan will gather interest depending on how much they earn.
If you have the funds available and wish to cut down the interest the loans are accruing, then you may wish to make a contribution. However, it's worth considering that your child will most likely not pay off the full amount before the write-off period. Therefore if you pay off more of their debt sooner, you may end up paying more back than you actually need to
I/my partner receive(s) disability benefits. Will this affect my child's finance application?
No. Any tax-free state benefits such as Disability Living Allowance are not counted as household income, so this shouldn't affect what your child receives.
Contact us at funding@herts.ac.uk if you have queries about student funding or want to ensure that you child receive the full funding they are entitled to – we are here to help.
You are also welcome to attend our budgeting and funding workshops through the year. These are held in the Hutton Hub on a drop-in basis or via pre-booked appointments.
