The most important thing to know is that UK students do not have to pay tuition fees up-front. Currently, the maximum amount which a full-time UK university course can cost is £9,250 per year. You can cover these costs entirely with the government's Tuition Fee Loan. This is a special loan managed by the government and is different from bank loans in several important ways. The application process is easy to complete and is not based on the earnings of parents or guardians. You will not need to manage the payment of the loan to the university – if successful, the loan will be paid directly to your chosen institution. 

Unlike a regular bank loan, repayment does not need to start immediately. After graduation, you need to be earning at least £25,725 per year to start making repayments. If your annual income drops below £25,725 at a later date, repayments will stop. Regardless of repayment status, Tuition Fee Loans will not lead to a bad credit rating or difficulty applying for mortgages, credit cards, or loans in the future. After 30 years, any outstanding debt will be forgiven. 

You also need to consider living costs. This means paying for accommodation, bills, travel expenses, food, and other everyday things while studying. To help cover these costs, the maintenance loan exists. The amount you can apply for does depend on two things:

• Where you choose to go to university – for example, those who choose to live in London will be able to apply for slightly more money than those living elsewhere in the UK because of the higher living costs.
• Household income – everyone eligible for student finance will have access to a contribution. However, this is partially based on household income and parents or supporters are expected to financially support students. 

The maintenance loan is paid directly into the student’s bank account on a termly basis, and it’s up to them to manage this money. If you are a parent or supporter, it is worth making sure that the student understands this. To help with financial management, the University of Reading offers all students free financial skills training from Blackbullion.

If as a parent/supporter you’re concerned about how much support a student will receive, take a look at the student finance calculator to see how much they’re eligible to get. It’s also worth looking at the scholarships and bursaries offered by universities you apply to. The University of Reading offers a range of scholarships.