Business and Finance HND: Living costs
Find out about financial support
The details quoted on this page are subject to confirmation and may change. We strongly advise that you check all information before making a final decision.
Students from England
You may be eligible for a package of support including:
- a low-interest maintenance loan (which you pay back once you are earning); and/or
- a non-repayable maintenance grant (which you do not have to pay back).
Please note that if you already hold an honours degree, you will not be eligible for a tuition loan, maintenance loan or maintenance grant.
Maintenance loans: This is the main source of support for students in higher education. It helps you to pay for things like accommodation, travel, books, course equipment and living expenses.
There are two maximum rates of maintenance loan:
- £7,675 if you live in your own or rented accommodation whilst studying; and
- £4,375 if you live in your parents' home whilst studying.
The maximum maintenance loan rate increases in line with inflation each year but (for courses of more than one year) will be lower in the final year of your course (because it doesn't cover the summer vacation for that year).
Part of the maintenance loan is income-assessed so the amount you get may be reduced if your household income is more than around £42,600.
Interest will be charged (at the same rate as the tuition loan) from the time the first instalment is paid until you have repaid it.
Maintenance grants: Maintenance grants provide additional non-repayable support for your living costs. It is paid instead of part of your maintenance loan (up to £1,625) and is fully income-assessed as follows:
| Household income | Amount of grant |
|---|---|
| Below £25,000 |
£3,250 |
| Between £25,001 and £42,600 | £3,249–£50 |
| £42,601 or higher | Nil |
Summary of funding: Here is a summary of the student finance you might receive to help with your living expenses:
| Household income | Maintenance grant | Maintenance loan (London rate) | Total student finance for living costs |
|---|---|---|---|
| £0–£25,000 | £3,250 | £6,686 | £9,936 |
| £30,000 | £2,341 | £7,141 | £9,482 |
| £40,000 | £523 | £8,028 | £8,551 |
| £50,000 | £0 | £6,963 | £6,963 |
| £60,000 | £0 | £5,963 | £5,963 |
| £70,000 | £0 | £4,988 | £4,988 |
| £80,000 | £0 | £4,988 | £4,988 |
(Figures are subject to confirmation and may change.)
Students from other parts of the UK
Funding for students from other parts of the UK is different to that for students from England. Please refer to the relevant website listed below for more information.
- Students from Wales: Student Finance Wales
- Students from Northern Ireland: Student Finance Northern Ireland
- Students from Scotland: Student Awards Agency for Scotland
Additional support
Additional, non-repayable support is available if you are disabled or if you have dependants. See our funding website for more information.
Need to know more?
See our funding website or contact the Student Funding Service for more information.
