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Supporting our students - finance

The financial concerns for mature students can differ quite significantly from those of their younger counterparts, generally involving greater financial commitments and often sacrifice of an income.

Fear of debt at the end of your course can also be off-putting. You can find excellent myth-busting information at Student Finance Direct or the NHS Student Bursaries website, if you are planning to study towards a qualification in one of the health professions.

As a quick guide, eligible students can apply for:

​If you have studied in higher education before this may affect your eligibility for funding. If either you or your college received government funding this may well affect any entitlement to support. In general, you are entitled to help for the length of your course plus one extra year – in case of false starts and transfers.

If this does apply to you, please do speak to your local authority who will be happy to clarify your particular situation.

NHS-funded students​

NHS-funded students have their tuition fees met by the NHS and in addition:

  • diploma students can apply for non means-tested bursary support
  • degree students can apply for means-tested bursary support and a reduced rate student loan
  • NHS-funded students can also apply for the Access to Learning Fund but cannot get the University’s OfFA bursaries (as they do not have to pay tuition fees).
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​Student loans

While there is no getting away from the fact that a large element of student support is loaned, these loans actually attract a low rate of interest and repayments only start once you have left your course and are earning more than £15,000 per annum. Once this threshold is crossed, your employer will deduct 9% of any earnings above it, at source with your National Insurance contributions.

More information from the Student Loans Company

​Benefits

If you receive benefits, you should speak to Jobcentre Plus to see how studying full-time will affect you - DirectGov is a good starting point for this information.

Only lone parents and disabled students retain eligibility for means-tested benefits such as Income Support and Housing Benefit while they are full-time students although this entitlement is affected by student funding (irrespective of whether or not the student loan has been taken up). This often means that in practice, most students do not get Income Support during the academic year, but disabled students and single parents may still receive Income Support during the summer months.

You may also be able to get a reduction in or exemption from Council Tax, depending on your circumstances, as full-time students are not ‘counted’ for Council Tax purposes.

The Student Funding Unit

Our friendly staff in the Student Funding Unit are familiar with all of the financial issues facing mature students and can provide you with specialist financial advice. This includes:

  • where and how to apply for support with tuition fees and living costs
  • additional funding you may be entitled to if you have dependants, or have a disability
  • discretionary support available from the Access to Learning (Hardship) Fund
  • benefits and tax credit advice.

Existing debts

It is not uncommon for students to arrive at university with existing debts. It is important not to suffer in silence and seek advice. UPSU: advice – a complete advice and information service delivered by the University of Plymouth Students' Union – is open to all students and prospective students of the university. They can offer advice on all aspects of student life and have a dedicated student money adviser who can provide debt counselling.

UPSU advice can be contacted by telephone on +44 (0) 1752 232281 or via email at advice@su.plymouth.ac.uk.