The University Application Process Explained: What to Expect

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8. Debt. Oh so much debt.

As exams creep closer, the words ‘personal statement’ and ‘offer’ will soon be replaced by ‘student finance’ and ‘accommodation,’ and ‘revision’ of course; do teachers know of any other word after New Year?

To apply for student finance, you’ll need your national insurance number, along with your general information. Your parents will need to fill out their financial information; the money you receive from the government will be based on your parents’ income – a student from a lower income background will receive more money than someone whose parents have a higher income. Along with this is the cost of tuition fees per year, which will be given to the university you are accepted to. Your loan and tuition fees will have be paid back to student finance, but only when your income is over £21,000 per year – it is then taken as a small percentage of your wages every month. If your debt is not cleared 30 years after graduation, this debt will be cancelled.

I was always instructed to not let the cost of university be the reason I didn’t apply. As I said, your loans are dependent on your parents’ income and, if this isn’t enough to live off, there is always the opportunity to get a part time job, like the majority of students do. While the Bank of Mum and Dad varies per person, it’s also probable that they, or other family members, would try to help if you’re struggling. Although grants are becoming loans and tuition fees are ridiculous, there are ways to pay for university. It’s pricey, not impossible.

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