Repayment of student loans is deferred until after you have graduated and paid back in instalments (with interest) based on your income.
 Graduates earning less than £10,000 will not have to make loan repayments until their earnings rise, while those earning more are expected to make monthly payments of 9% of their yearly income. For example, a student earning £12,000 a year will repay £15 a month of their loan. Where parental income is £20,000 or less, students pay no tuition fees and are entitled to the maximum loan of £3,905 (for students studying away from home in all but their last year). Those whose parents earn £29,784 or more must pay full fees with maximum loan entitlements falling. The loan entitlement is based on a 75% basic amount (varying for students in living in London, at home, elsewhere and your final year), and 25% of the loan is determined on your parents income. For example, a student living away from home (but not in London) will receive a basic amount of £2,928 in their first two years (making up 75% of the loan). The other 25% of the loan will depend on parental income, with a maximum entitlement of £977, when the parents earn less than £20,000. If you are in financial difficulty, most colleges operate hardship funds for those in dire need, while certain organisations, such as businesses and charitable trusts, can also offer help. These trusts and charities can offer anything from a tenner to several thousand pounds - as long as you meet their specific criteria (e.g. age, background, course etc.). Predictably, competition for these grants is fierce, so applications should be made as soon as possible. A good place to start is the Educational Grants Advisory Service (EGAS). They will be able to suggest the most likely organisations to help, and give you a number of tips on the best way to approach charities. You will need to inform EGAS of your present situation, including: nationality and place of birth; course title and duration; previous study, qualifications and schooling; what your intentions are regarding study and employment; and any financial problems you may have. Further information can be picked up from publications such as The Directory of Grant Making Trusts, Charities Digest, The Grants Register and the Educational Grants Directory, all of which can be found in the reference section of local libraries. Career Development Loans (CDLs) are available to students on vocational (i.e. job - related) courses. This is an initiative between the Employment Department and four high street banks (Barclays, Co-op, Clydesdale and Royal Bank of Scotland). A CDL can cover between 80% and 100% of course fees plus other costs such as books and materials. This loan can be anything from £300 to £8,000 - but do remember, it is a loan, and therefore must be paid back with interest after your course! | 
