The CU student’s simple guide to finance
At CU London we understand that higher education can be a big investment, especially when balancing family or work.
From the big monetary support you could tap into to the small ways you can save, this guide is designed to give you a helping hand when financing your studies.
Get the most out of your student loan
Student Finance England could fund your course (Tuition Fee Loan) and, if you are a full-time UK resident, your living costs (Maintenance Grant Loan).
Don’t miss out! You may be eligible for more support that you don’t have to pay back:
- Parents’ Learning Allowance for full-time students with children.
- Childcare Grant for childcare costs with children under 15 (or under 17 for special educational needs).
- Disabled Student Allowance, for the extra costs you may have due to a mental health problem or long-term disability.
To find out how much payment you qualify for, use the Gov UK Student Finance Calculator.
Only repay when you're earning enough
You might be surprised how manageable the repayments on your loans could be.
Student Finance England loan repayments will start depending on the repayment plan you are on and only when your salary reaches the ‘repayment threshold’.
What you pay back each month depends on your income. If you aren't earning, or your earnings go below the repayment threshold, your repayments will automatically stop.
Students enrolled after 01/08/2023 are plan 5 and all loans get written off after 40 years.
Visit the UK government website to check which repayment plan you are on.
Count your discounts
Your new ID card will be your golden ticket to student discounts. We also recommend TOTUM, the number one student discount card and app.
Then, head to Transport for London to save on your public transport costs too.
The Royal Borough of Greenwich also offers a student discount on Council Tax for mature students living in the area.
Work while you study
CU London has an on-campus commitment of just two days a week with the rest being made up of individual study. Our courses are designed to give you more flexibility.
That means you can work reduced hours, see if your employer will do day release or get a part-time job in your field.
Some help with your budget
At CU London, we are always looking for ways to help our students with their finances.
- A free eBook scheme to include core textbooks as part of your tuition fees.
- Student support and access to a Welfare and Disability Advisor.
- Talent Team for employment help, e.g. CV advice or mock interviews.
Other ways to pay…
If you are self-financing or being sponsored through work, head to CU London’s Funding and Finance section or How to Pay for more details.
