What’s The Average Student Loan In The UK?

Everything you need to know about the average student loan in the UK.

Student loans can be confusing, but we’re going to break it down for you! Your student loan is based on quite a few factors and everyone is entitled to a different amount of money from the government. The average student loan can vary greatly, depending on your age, household income, where you live and whether you’re planning on studying abroad or in London.

The average student loan is going to be different for everyone as everyone’s circumstances are different, and student finance use this to calculate your student loan amount so you might find that your friends are getting a much higher or lower loan than you are. Regardless of the amount, every full time student living and studying in the UK is entitled to a student loan to help you cover the costs of both your tuition and living costs, including rent, food shopping and course materials.

Here’s everything you need to know about the amount of money you can expect to borrow:

What are the different types of student loans?


There are currently two different student loans for undergraduate students, that every student is entitled to. The tuition fees loan is to cover the complete costs of tuition throughout your time in uni and the maintenance fees loan is to cover the costs of rent and other living costs. You have to pay back both loans, after you’ve graduated from university.

Every student will get the same amount of money for their tuition fees loan and this loan will cover 3-4 years of university. The maintenance loan is different for each student and is based on parental income as well as location.

What is the average maintenance loan in the UK?


Your maintenance loan is worked out by a number of factors including your average household income, whether you’re from a single-parent family and whether you are studying in London. Those who are studying in London get a higher loan than those studying in other universities, due to the higher cost of living and rent in London. For those not studying in London, you can expect to receive around £7,000-£8,000 per year of uni. You are eligible for a maintenance loan for each year you are in university and combined with the tuition fees loan the average student will graduate with around £45,000 in debt. You can use a calculator on the government website, to find out an estimation of how much you can expect to borrow.

What’s the largest student loan you can get?


For the 2022-2023 academic year, the highest amount of maintenance loan you can get per year is up to £9,706 if you are living away from your parents and don’t attend a university in London. If you are living away from your parents and you do attend a university in London you could get up to £12,667.

If you choose to live at home during your time in university you will get a smaller maintenance loan, as you won’t need to cover the costs of renting. If you live at home the maximum maintenance loan you can get is up to £8,171. You can also get a higher student loan if you choose to spend a year of your UK course studying abroad, in which case you could receive up to £11,116 to help cover the costs of your year abroad. You can find out more about this on the government website.

What’s the smallest student loan you can get?


The minimum student loan you could get if you live away from home outside of London per year is £4,422. If you attend a uni in London the minimum is £6,166 and if you choose to live at home with your parents it’s £3,516. You can find out more on the government website.

How much are university course fees?


Currently, undergraduate university courses cost a maximum of £9,250 per year. Your tuition fees will cover each year of university so that averages at £27,750 for a 3-year course and £37,000 for a 4-year course. Tuition fees loans are not based on household income and every student is entitled to the same amount so you don’t need to worry about covering the costs of your tuition.

Find out more about student finance payment dates, and a complete guide to student finance UK for more information on how student loans work.