How you'll be paid
The maintenance loan will be paid directly to you, meaning you are responsible for ensuring your costs are covered – even if you are staying in University managed accommodation, it will be paid directly to you and not the university.
You will receive your loan in three equal instalments. The first instalment will be normally be paid within 3-5 working days after the start of term, and once your application for a maintenance loan has been approved by Student Finance and the University has confirmed your registration to Student Finance. The second and final instalments will normally be paid at the beginning of the second and third term and should be in your account within 3-5 working days of the start of term.
Repayments
As with tuition fee loans, you will be charged interest on your loan. The earliest you’ll start repaying your loan is from the April after you leave your course and only then if your annual income is over the minimum threshold (currently £27,295). The amount you'll repay will depend on your earnings and not the amount borrowed.