Students are to start receiving their loan payments for the new academic year.
Perks of Having a Maintenance Loan
University students can now claim cash for their tuition fees. They can also receive a maintenance loan of up to $15,640 to help with the daily living costs. At the beginning of each term, a maintenance loan is paid directly into your bank account. This means that you usually get three payments per year.
This loan is to help you pay for your living expenses and is almost always used to help pay rent. There is no need to use this money on tuition as it is paid separately. As stated in a post by The US Sun, the amount you get will depend on your household income during your application.
You could get up to $15,640 for each academic year depending on your situation. The maximum you can get is $10,089 a year if you live with your parents. You can get up to $11,984 a year if you live outside of London, away from your parents. Also if you study in London and you are living away from home, you can get up to $15,634. In addition to that, you could receive up to $13,725 per year if you take a UK course abroad.
Students are to start receiving their loan payments for the new academic year. (Photo: The US Sun)
Maintenance Loan Payments for 2022-2023
The date when you start receiving three installments of student loans depends on the term start date. You should receive your payments in September, January, and April if your course begins in September. This means that if you started in September 2022, your next payment should arrive this month and the next one in April.
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