For anyone who lives in Scotland or thinking about studying in Scotland this blog will tell you everything you need to know about the funding that is available.
In Scotland there are sixteen universities including the Open University, and an additional three institutions of higher education.
In a word, yes. But ONLY if you’re a student from Scotland or the EU.
Scottish university fees are covered by the Student Awards Agency for Scotland (SAAS) which means you don’t have to pay anything towards your tuition.
If you’re a student from the rest of the UK or outside of the EU, you will have to pay up to £9,250 per year which is the cost to study in England, plus an additional year as degrees in Scotland take four years to complete as opposed to three years in England.
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When you have a job, a small amount of your wages is automatically taken to pay back your student loan over a period of time. If you’re earning up £18,935 per year minimum, 9% of your annual income is paid back direct to the Student Loans Company (SLC). The more you earn the more you’ll pay towards repaying your student loan. You don’t need to worry about arranging this yourself, it is taken before you receive your monthly wages.
SAAS guidelines state: “You must be ordinarily resident in Scotland on the first day of the first academic year of the course.”
This doesn’t mean you can move to Scotland the day before your course begins. This means you must live in Scotland permanently full-time only leaving for holidays. However, there is no time frame on this!
Household income | Loan | Bursary | Total |
£0 - £20,999 | £5,750 | £2,000 | £7,750 |
£21,000 - £23,999 | £5,750 | £1,125 | £6,875 |
£24,000 - £33,999 | £5,750 | £500 | £6,250 |
£34,000+ | £4,750 | £0 | £4,750 |
Part-time students aren’t eligible for funding to cover living costs.
https://www.ucas.com/student-finance-england/repaying-your-student-loan
https://www.savethestudent.org/student-finance/finance-system-for-scottish-students.html#nutshell
https://www.saas.gov.uk/my_money/loan_repayments.
Published: 3 February 2020
Photo: Alex Brenner