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Student Finance 2019
Student Finance 2019 1

If you are thinking about going to university in   that you are entitled to receive. There are
2019 you may be wondering about the cost           also many other resources which provide
of tuition, living costs and the availability of   information on student finance and a list of
loans and bursaries. This booklet sets out         useful websites can be found at the back of
the financial support which is on offer for        this booklet.
new undergraduates at LSE and also what            The information in this booklet is correct at
is available from the UK Government. You           the time of going to print in February 2018.
should read this information carefully to          Please visit for
make sure that you don’t miss out on money         the most up-to-date information.
2 Student Finance 2019

LSE tuition fees
Undergraduate tuition fees             Once the tuition fee loan is          Students from Northern Ireland,
for UK and EU students                 arranged, it is paid by the SLC       Scotland and Wales
                                       directly to LSE after you have
At the time of going to print the      registered. The tuition fee loan is   Students living in Northern Ireland,
2019 fee has not been set. The         not paid to the student.              Scotland and Wales, including
2018 fee is £9,250. Any further                                              those who study in England,
inflationary rise would have to be     Students can apply for a loan         receive their financial support
approved by Parliament and is          for the full fee or for any amount    from their “home” devolved
likely to announced in November        below the full fee (if you or your    administration. It is a matter for
2018. The fee may also rise with       family want to pay some of the        the devolved administrations
inflation in the subsequent years      fee up front).                        to decide how they wish to
of your study.                                                               support their students.
                                       Interest charged on the tuition fee
                                       loan and the repayment terms are      In 2017, students living in Northern
Tuition fee loans                      the same as those applied to the      Ireland and Scotland received
                                       maintenance loan (see page 7).        tuition fee loans to cover the full
Students from England and the EU                                             cost of the fee for the duration of
                                       Non-UK EU students are generally      the undergraduate programme.
Under the 2018 arrangements,           eligible to take out a tuition fee
students ordinarily resident in        loan, but this is may change          Students from Wales received a
England do not have to pay the         with the terms of the UK’s            non means-tested grant of £4,954
tuition fee up front. You do not       exit agreement from the EU.           (payable to the university) for
have to start repaying the loan        Information will be updated on        part of the tuition fee, together
until you have graduated from your as soon as it is available.    with a loan to cover the balance.
programme and you are earning
over £25,000 per year (see page 7).    More information about tuition        Students should check the relevant
                                       fee loans can be found on the         website below for the latest
The tuition fee loan is administered   following websites:                   information on fees and financial
by the Student Loans Company                                                 support available for 2019 entry
(SLC), the company which also                                from their administration:
handles maintenance loans for
students. You should apply for the                                           Northern Ireland
tuition fee loan at the same time       
that you apply for your maintenance
loan, which is usually in the spring   student-loans-tuition-fees-changes    Scotland
before you start university.                                       

Student Finance 2019 3

LSE financial support
LSE Bursaries                                                                    LSE Discretionary Bursaries
Undergraduate students from the UK and EU students are eligible for an LSE       A number of Discretionary Bursaries
Bursary assessed according to household income. For new students starting        are available for LSE students who
in 2018, the maximum Bursary available is £4,000 per year for those students     face exceptional financial need. This
with the lowest residual incomes. The Bursary value tapers to £750 for those     might include, for example, caring
students on higher incomes to a maximum of £42,611.                              responsibilities, financial need related
                                                                                 to disability or the unavoidable
LSE Bursaries                                                                    requirement to live at home. The value
                                                                                 of the award may vary according to
 Students’ household income               LSE award per annum                    need, but is not expected to exceed a
 £0 – £18,000                             £4,000                                 total of £4,000 combined with the LSE
                                                                                 Bursary. These bursaries do not have
 £18,001 – £25,000                        £3,500                                 to be repaid.
 £25,001 – £30,000                        £2,750
                                                                                 You should apply using the application
 £30,001 – £35,000                        £1,750
                                                                                 form, which can be found at
 £35,001 – £40,000                        £1,000                                 ug/fees-funding. The form should
 £40,001 – £42,611                        £750                                   be returned to the Financial Support
                                                                                 Office by 31 August 2019.
These Bursary values are provisional pending confirmation by the Office for
                                                                                 Although the terms of the UK’s exit
Fair Access in Summer 2018.
                                                                                 agreement from the EU have not yet
You can use this Bursary to help with     Eligibility for the LSE Bursary        been finalised, LSE will continue to
your living costs or to help pay for      is assessed annually (in line          make funding available to all students
your accommodation. It is up to you       with annual assessments for            regardless of fee status.
how you choose to use your Bursary.       maintenance loans).
UK students do not have to apply
separately for the LSE Bursary.           There is no limit to the number
                                          of LSE Bursaries available. All UK
We will use the financial information     students who are eligible for an LSE
you provide to the SLC when               Bursary will receive one.
applying for your maintenance loan
to determine your eligibility for and     The LSE Bursary does not have
the value of your Bursary, provided       to be repaid.
you opt to be means-tested (see
Applying for loans on page 6).            EU students are eligible for an
                                          LSE EU Bursary based on the
You will be notified during the           same income assessment as
summer before the start of your           used for UK students. Application
degree programme of your Bursary          is by completion of a form, which
award. The Bursary will then be           can be found at
paid into your bank account in            fees-funding
three termly instalments. The
first instalment will be paid in the
October of the first term once you
have registered.
4 Student Finance 2019

LSE scholarships                           Eligibility is often limited by, for   It is too early to say which of these
                                           example, place of residence or         awards will be available in 2019 but
In addition to the LSE Bursary, the        programme of study. However,           you should check
School also makes available a              all scholarships are awarded on        fees-funding from Autumn 2018 to
range of scholarships for its new          the basis of financial need.           see what is available for students
undergraduates from the UK, EU and                                                starting in 2019. You are advised
overseas. These scholarships are           In 2017 the following scholarships     to apply once you have accepted
donated by external organisations          were available for students from the   your offer. The final deadline for
or alumni of the School.                   UK and EU.                             applications will be 1 June 2019.

LSE scholarships and eligibility                                                  LSE Access to Education
 Name                              Value                Eligibility               LSE is offering three awards made
                                                                                  up of support for the tuition fee and
 Kadas Scholarship                 £15,000 per year     Home EU applicant
                                                                                  livings costs for:
                                                        from specific countries
                                                        (three awards)            • an asylum-seeker; or
 Richard Jonathan Clark            Fees plus £8,083     UK or EU applicant for
 Scholarship                       per year             any programme             • a refugee; or
 Pass the Torch Scholarships       £20,000 per year     EU or UK applicant        • a person with humanitarian
                                                        on any programme             protection; or
                                                        (two awards)
 Golden Scholarship                £5,000 per year      Home UK applicant         • a person who is resident in the UK
                                                        (preference for female       and has been granted Discretionary/
                                                        applicant)                   Limited Leave to Remain in the UK.

 Dr Christos Pissiotis             £9,250 per year      Greek resident with       Priority will be given to those who
 Scholarship                                            an offer on the BSc       are unable to access funding from
                                                        Economics or an           Student Finance England (or its
                                                        economics-related         national equivalent in Northern
                                                        programme                 Ireland, Scotland and Wales), but
                                                                                  each case will be assessed on need.
                                                                                  If you are assessed as paying the
                                                                                  overseas fee rate the minimum
                                                                                  award will be the difference between
                                                                                  the overseas fee rate and £9,250
                                                                                  (equivalent to a partial fee waiver).
                                                                                  The maximum award will cover
                                                                                  all fees due and up to £10,750
                                                                                  for maintenance. Deadline for
                                                                                  applications will be April 2019.
Student Finance 2019 5

Government financial support
The following information sets         for students studying in London (ie,   of their parental income. This
out what is available for the 2018     at LSE) and living away from home      amounted to £5,654 to study in
academic year. At the time of going    is £11,354. If you study outside       London (of a total of £11,354).
to print 2019 figures were not         London or if you live at home while    Later figures are not yet available.
available. Please check the            you study, the maximum loan value website for      is lower – maximum £7,324.             Income assessed loan: The
the most up-to-date information.                                              remainder of the amount you
                                       There are two elements to the          can borrow is means-tested (ie, it
Maintenance loan                       maintenance loan: a guaranteed         depends on your or your parents’
                                       loan and an income assessed loan.      household income).
All eligible students from England
are able to take out a maintenance     Guaranteed loan: Part of the           The maintenance loan does have
loan to help with living costs. In     maintenance loan was available         to be repaid.
2018 the maximum loan available        to everyone in 2018 regardless

The scholarship and funding I received enabled me to take up my place to study
law at LSE.
I have always been interested in studying law. LSE is an amazing university with
great alumni, but I also chose it because of its impressive debate agenda, public
events schedule, and ideal location in central London; a melting pot of law firms,
Parliament and government offices. I love the diversity of the city, it’s a great
place to study law and it’s a great place to socialise and have fun.
My programme is both enjoyable and challenging. I feel like my opinion
really counts; in classes I am able to channel my views and engage with
and debate the material from lectures. The support from my teachers and
peers at LSE and the skills I’ve gained have also helped me to advance my
equal access campaign.
I study not only to gain knowledge but to decide how I will use this
knowledge to change injustices within and around my community. I am now
a Pathways to Law mentor here at LSE and this opportunity is invaluable;
it is a pleasure to guide my mentees by offering support as they complete
their A levels.
Chrisann Jarrett
London, UK
6 Student Finance 2019

Applying for loans                        information which the SLC uses           Household residual income
                                          to assess your eligibility for an
You should apply for both your loans      assessed maintenance loan which is       This is effectively the household
(maintenance and tuition fee) in the      additional to the basic loan of £5,354   income BEFORE tax and AFTER
spring before you start university.       (2018 figures). The information          any pension contributions or
The Student Loans Company                 submitted on the application form        allowances for dependent children.
(SLC) usually announces a date in         allows the SLC to calculate the
January/February when applications                                                 For all those dependent students
                                          “household residual income” (see
open and a deadline in May by which                                                (ie, not independent) then the
                                          section below). You can also allow
you should submit your application.                                                income assessment is based on
                                          your chosen university to access this
You should check and                                                        your combined parents’ income –
                                          financial information so that they for further details.                                                     though if you have substantial
                                          can assess your eligibility for their
                                                                                   savings/investments of your own
                                          own bursaries and scholarships.
You and your family will need to                                                   generating income they will be
                                          In the case of LSE, this means that
complete a PN1 form which asks                                                     taken into account.
                                          you will not have to apply separately
for a range of financial information
                                          for our Bursaries (see LSE financial
about you and the household in                                                     If your parents are divorced or
                                          support section on page 3).
which you live. It is this financial                                               separated then the SLC will assess
                                                                                   the income of the parent you live
                                                                                   with most of the time. If that parent
Financial support by household income (2018 figures)
                                                                                   remarries or has a cohabiting
                                                                                   partner, their joint income will then
 Household income                         Income assessed living cost loan         be assessed.
                                          (maximum London rate £11,354)
 £25,000 or less                          £11,354
                                                                                   Students from Northern
 £30,000                                  £10,719                                  Ireland, Scotland and Wales
 £35,000                                  £10,084
                                                                                   In 2018 there were grants and
 £40,000                                  £9,449                                   loans for living costs available
 £45,000                                  £8,813                                   for students from the UK
                                                                                   devolved administrations. Please
 £50,000                                  £8,178                                   see their websites for information
 £55,000                                  £7,543                                   on 2019 support.
 £60,000                                  £6,907
 £65,000                                  £6,272
 over £70,000                             £5,654
2019 figures had not been published by the Department of Business Innovation
(BIS) at the time of going to print.
Student Finance 2019 7

Repayment of loans and                      While studying: The loan                   Graduates earning over £45,000:
rates of inflation                          accrues interest at the rate of            The loan accrues interest at the
                                            inflation, as measured by the Retail       rate of RPI inflation plus 3 per cent.
If you take out a tuition fee loan          Price Index (RPI), plus 3 per cent.
and a maintenance loan they are             This continues until the first April       The table below shows some
bundled together to make one                after graduation after which a             salaries and typical repayments.
combined loan. Interest starts to           progressive taper is applied.
accrue on the loan from the day                                                        The loan is repaid through the
you receive the money.                      Graduates earning less than                income tax system if you work in
                                            £25,000: The loan accrues interest         the UK. Student loans do not go on
You only start to repay your                at the rate of RPI inflation.              credit files.
student loan after you graduate
                                                                                       The student loan is written off
and once you are earning over               Graduates earning between
                                                                                       after 30 years.
£25,000 per year. You only repay            £25,000 and £45,000: The interest
9 per cent of everything you                rate will gradually rise from RPI to RPI
                                                                                       In 2012, the Government
earn annually above £25,000.                plus 3 per cent the more you earn
                                                                                       announced that graduates would
                                            (the interest rises 0.00015 per cent
                                                                                       be allowed to repay their loans
Rates of interest vary throughout           for every extra pound you earn or,
                                                                                       early, if they wished to do so,
the life of the loan and are currently      put another way, if you earn £1,000
                                                                                       without any penalty being applied.
published as:                               more you accrue 0.15 per cent extra
                                            interest). These thresholds rise with
                                            average earnings.

Sample repayments*

 Salary       Amount of salary from            Monthly
              which 9 per cent will be         repayment
 £30,000      £5,000                           £37.50
 £35,000      £10,000                          £75.00
 £47,000      £22,000                          £165.00
 £52,000      £27,000                          £202.50
 £60,000      £35,000                          £262.50

* Provisional figures based on data supplied by the
Department for Business, Innovation and Skills (BIS)
in December 2017.
8 Student Finance 2019

Other support                             • have at least one dependent            Parents’ Learning Allowance (PLA)
                                             child who is under 17, is registered
Students who are eligible                    as having special educational          You can apply for a Parents’
for benefits                                 needs, and in registered or            Learning Allowance if you’re a
                                             approved childcare.                    full-time undergraduate student
In 2018, the maintenance                                                            with dependent children. This helps
loan available to students who            Disabled Students’                        with the extra costs associated
qualify for benefits was enhanced.                                                  with being a parent and a student.
                                          Allowance (DSA)
The maximum loan for study in                                                       You don’t need to be paying for
London was £12,382 and for those          Disabled students from the UK can         childcare to be eligible.
living at the parental home it was        access DSAs which are grants to
£8,640. This replaces the Special         help with extra costs you might face      Adult Dependants’ Grant (ADG)
Support Grant.                            as a result of a disability, long-term
                                          health condition, mental-health           You can apply for the Adult
Childcare Grant (CCG)                     condition or specific learning            Dependants’ Grant if you’re a full-
                                          difficulty like dyslexia.                 time UK undergraduate student and
You can apply for a Childcare Grant                                                 you have an adult who depends
if you’re a full-time undergraduate       Please visit             on you financially. The adult can
student living and studying in            students-allowances-dsas for more         be a partner or another adult who
England and you:                          information about DSAs.                   depends on you financially, but you
                                                                                    can’t count grown-up children as
• have at least one dependent child                                                adult dependants.
   who is under 15 and in registered or
   approved childcare; or

                             I chose this programme as I knew that it wouldn’t just outline the theory but also
                             highlight and explain the causes behind various issues and situations.
                             During my time here, I’ve also taken part in hosting the Alternative Investments
                             Conference (AIC), which brings together over 300 students from across the world to
                             engage and speak with renowned global hedge fund managers and private equity
                             fund managers.
                             The resources at LSE help you grow and learn, not only in your field of study, but also
                             individually as a person. I feel comfortable that LSE will help me to achieve what I really
                             want in life.
                             Receiving a scholarship has allowed me to feel financially stable. The funding
                             has also allowed me to broaden my horizons both academically and socially; I am able to
                                purchase new books, buy into societies at LSE and go out and meet new people!
                                     Jackson Read
                                       Southend, UK
                                        BSc Government
Student Finance 2019 9

Living costs
The perceived cost of living and           • You can also choose to live in        You might also choose to save
studying in London is a concern               private housing in London in your     money by cycling – there is a public
for many students, but if you plan            first year; in second and third       cycle hire scheme in London, or you
carefully and budget efficiently              year, most students will live in      can use your own bicycle.
then it certainly is possible to              private housing.
take advantage of the amazing
opportunities the capital has to offer,    For more information, see                Useful travel links
whilst living within your means. 
                                                                                    Transport for London
LSE broadly estimates that                                                          Fares, payment methods, and maps
students should allow £1,100-              Travel                                   for London Underground and buses
£1,300 per month for all                                                  
                                           LSE Halls are all within walking
living expenses, including                 distance of campus, but London           How to get to LSE
accommodation, travel, food,               is a large city and you will need to
laundry, study costs, and other            factor travel costs into your budget.    campus-map
personal expenses.                         The main forms of public transport
                                           are the London Underground
                                           (the “Tube”), buses and taxis. The       Food
Useful budgeting tools
                                           transport system uses “zones” to
                                                                                    We estimate that students will
UCAS budget calculator                     determine how much you pay –
                                                                                    spend £50-£200 per month on                                   central London is Zone 1, with higher
                                                                                    food, depending on whether you
                                           zones the further out you travel.
                                                                                    live in catered or self-catered Halls. calculator                          LSE, our accommodation and most
                                                                                    There are steps you can take to          cultural attractions are within Zone 1
                                                                                    reduce your food expenditure;
                                           and 2; in second and third year, you
                                                                                    for example, shopping at local
                                           may need to travel out to Zone 4,
                                                                                    markets, shopping and cooking
Accommodation                              depending on where you live.
                                                                                    with your flatmates, and bringing a
LSE provides a range                       As a student, you are entitled to        packed lunch to university.
of accommodation for first year            receive 30 per cent off standard
students, with varying costs               Tube and bus fares if you purchase
depending on location, room type           a Student “Oyster Card”. See the
and facilities.                            table below for typical travel fares.
• LSE Halls cost between £100
   and £390 per week                                         Weekly travel with student    Monthly travel with student
                                                             discount                      discount
• This includes utility bills, internet
                                            Zone 1 only      £23.80                        £91.40
   access and contents insurance
                                            Zones 1-2        £23.80                        £91.40
• Pay up front or in three
                                            Zones 1-3        £27.90                        £107.20
   termly instalments
                                            Zones 1-4        £34.20                        £131.40
• In catered halls, one or two of
   your daily meals will be included.
   In self-catered halls, you will need
   to buy your own groceries
10 Student Finance 2019

Study costs                             Personal expenses                      Useful links for saving
Study costs include books,              You will also need to consider         money
stationery and any other equipment      how you will budget for things like    NUS extra discount card
to assist you with your studies.        clothing, gym memberships, nights
Although some students prefer to        out, mobile phone bills, or anything
buy books new, you can save a lot       else that you will want to buy.        LSE Students’ Union
of money buying them second-                                         
hand from older students or recent      Remember that students are
graduates. You don’t necessarily        often entitled to discounts. The       Student Beans
need to buy even your core texts –      National Union of Students (NUS)       Discount site for students
the library stocks multiple copies of   discount card will give you access
core and recommended readings           to discounts across clothing, food
(as well as single copies of more       and socialising. The LSE Students’     Time Out magazine
specialist books). A large amount       Union offers lots of societies,        Weekly events listings for London,
of reading material is now also         activities and social events at        including free things to do
available online.                       cheap rates. London is also full of
                                        free activities – for example, most
                                        museums are free to enter.
Student Finance 2019 11

Further information
The following websites provide        LSE undergraduate fees                Students from Scotland
more information for prospective      and funding                 
university students:        
                                                                            Students from Wales                             
LSE alumnus Martin Lewis has
also published a number of
YouTube videos about student          Students from Northern Ireland
funding and money matters.  

The best thing about studying at LSE is the academic and social side of the
university. You are mixed in with the brightest people and you are taught by
famous professors. Also, in London, there are so many activities you can
take part in.
Receiving the scholarship has eased my financial difficulties and has given me
the opportunity to concentrate on my studies and hobbies. I joined the Football
Society (LSESU FC) and I could never imagine having so much fun.
The biggest opportunity I think is that you have global firms coming to
campus and giving you presentations. You get a real insight into these
firms and the chance to get to know their employees.
When I graduate, I would like to do my master’s degree at LSE.
In three years’ time I will have a better understanding of
what I would study, but I can already imagine myself
studying another management degree.
Anh Phung
Prague, Czech Republic
BSc Management
12 Student Finance 2019

Meet, visit and discover LSE

             OPEN DAYS                    VIDEOS
               Wednesday, 11 April 2018
               Thursday, 5 July 2018

CAMPUS                                          WEBINARS
STUDENT                                   BLOG
                                          SELF-GUIDED TOURS
VIDEO DIARIES                                   DROP-IN
Student Finance 2019 13
                                    COVER IMAGE: ©MIKE KEMP/GETTY IMAGES


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