Student Finance Derry

Student finance for students from Derry/Londonderry, Northern Ireland, operates through Student Finance Northern Ireland (SFNI). SFNI is the primary body responsible for assessing applications and distributing financial support to eligible students pursuing higher education.

The support available typically includes:

• Tuition Fee Loan: This covers the full cost of tuition fees for eligible undergraduate and postgraduate courses at universities in the UK and the Republic of Ireland (ROI), as long as the course meets specific criteria. The loan is paid directly to the university or college.
• Maintenance Loan: Designed to help with living costs, the maintenance loan amount depends on your household income and where you study. Students living at home while studying, studying elsewhere in Northern Ireland, or studying in other parts of the UK receive different amounts. Generally, a higher household income results in a lower maintenance loan.
• Maintenance Grant: A non-repayable grant designed to assist students with living expenses. The availability and amount depend on household income, similar to the maintenance loan. It’s phased out based on increasing household income.
• Special Support Grant: Offered to students who are eligible for the maintenance grant and also receive certain income-related benefits, such as Income Support, Income-based Jobseeker’s Allowance, Income-related Employment and Support Allowance, Universal Credit, or Pension Credit. This grant doesn’t affect other benefits.

Eligibility:

To be eligible for student finance, you must generally be:

• Ordinarily resident in Northern Ireland. This usually means you have lived there for at least three years before the start of your course. Specific residency rules apply, and exceptions exist for refugees, those with protected leave, or children of migrant workers.
• Studying on a designated course at a recognized university or college.
• A UK national or have ‘settled status’ (meaning you have no restrictions on how long you can stay in the UK). Citizens of the Republic of Ireland are also generally eligible.

Applying for Student Finance:

The application process is completed online through the SFNI website. It’s recommended to apply early, well before the start of your course, to ensure that funding is in place for the beginning of term. You will need to provide information about yourself, your course, and your household income. Parental (or partner’s) income details are required unless you meet specific criteria for independent status. Once your application is assessed, you will receive a notification of your entitlement.

Repaying your Loan:

Repayments begin the April after you graduate and earn over a certain threshold. The repayment amount is a percentage of your income above that threshold. Student loan repayments are automatically deducted from your salary, similar to income tax and National Insurance. If your income drops below the threshold, repayments stop. Any outstanding loan balance is typically written off after a specific period (currently 40 years for Plan 2 loans issued from 2023 onwards).

Additional Information:

Students from Derry can access support and guidance on student finance through their schools, colleges, and directly from SFNI. It’s crucial to research all available funding options and understand the terms and conditions of your loan before commencing your studies. The SFNI website offers comprehensive information, including guides, calculators, and contact details for their support team.