Douglas Olsen
If you're thinking about studying with the Open University, you may be wondering how you'll fund your studies. The good news is that there are several options available to you, including student loans, grants, scholarships, and bursaries. Part-time students at the Open University can apply for a Tuition Fee Loan and, depending on when their course started, a Maintenance Loan to help with living costs. The amount of financial support you're eligible for will depend on factors such as your household income, where you live, and the ''course intensity' of your chosen programme.
Characteristics and Values Table for Student Finance at Open University
| Characteristics | Values |
|---|---|
| Tuition Fee Loan | Up to £7,145 per academic year |
| Maintenance Loan | Depends on where you'll study and your household income |
| Course Intensity | 25% or more |
| Living Arrangements | Report any changes to your living arrangements to get the correct amount of student finance |
| Low Household Income Support | Depending on where you live in the UK, your student finance body may provide extra support if your household income is below a minimum amount |
| Scholarships and Bursaries | Check with your university or course provider about any scholarships or bursaries they offer |
| Payment Plans | Some universities or course providers may offer payment plans |
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What You'll Learn
Eligibility criteria for student finance
Full-Time Students
Full-time students can apply for a Tuition Fee Loan and a Maintenance Loan. The Tuition Fee Loan is paid directly to your university or college, and you will need to pay it back. The Maintenance Loan amount depends on where you will study and your household income.
Part-Time Students
If your course has a 'course intensity' of 25% or more, you may be able to get a loan as a part-time student. 'Course intensity' measures how much of your course you complete each year compared to an equivalent full-time course. You can calculate this by comparing your module credits with the number of credits a full-time student will study. You can apply for a Tuition Fee Loan, and if your course started on or after 1 August 2018, you may also be able to get a Maintenance Loan.
Distance Learning Students
Distance learning students can apply for a Tuition Fee Loan to cover their tuition fees upfront. You will need to repay this loan (plus interest) once you finish your studies and are earning above a minimum threshold. Eligibility criteria depend on where you live, and typically, this should be your first undergraduate degree with an approved university or course provider, and you must meet some basic nationality/residence criteria.
Additional Support
Depending on your location, your student finance body may offer extra support if your household income falls below a certain amount. You can also inquire about scholarships and bursaries offered by your university or course provider. Scholarships are usually based on academic merit or achievement, while bursaries are related to personal circumstances such as household income or background.
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Tuition fee loans
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Maintenance loans
Students can apply for maintenance loans to cover living costs, including accommodation, while they study. The arrangements for student loans vary across the four constituent countries of the UK: England, Scotland, Wales, and Northern Ireland. The scheme that applies to you is determined by your country of residence, not the country where your university or college is located.
Students in Wales can receive a combination of grants (Maintenance Grant) and loans (Maintenance Loan), similar to full-time students. The amount of grant and loan received depends on the course intensity and household income. Students must be studying at a course intensity of at least 25% to receive a part-time grant and loan for living costs and to apply for a part-time tuition fee loan. The grant and loan are paid directly into the student's bank account once they have registered for their course and their attendance has been confirmed.
Students with mental health issues, such as anxiety and depression, may need additional supporting documents for their maintenance loan application. This can include a letter from a therapist or a report from a psychiatrist or psychologist explaining how their condition affects their life and their ability to attend a traditional university. These students may also be eligible for the Disabled Students Allowance (DSA), which provides software and other tools to help with their studies.
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Course intensity
The course intensity measures how much of a course a student completes each year compared to an equivalent full-time course. For example, Open University (OU) students can study towards the same course for up to 16 years. Most students study at an average of 60 credits every year over six years for a 360-credit honours degree. This is half the rate of full-time study intensity.
Students must be studying at a course intensity of at least 25% to get a part-time grant and loan for living costs and to apply for a part-time tuition fee loan. Students studying with the Open University in Wales must apply for part-time support, regardless of the intensity of study. The amount of grant a student will receive will depend on the intensity of their course, household income, and whether they are a full- or part-time student.
Students in Northern Ireland may be eligible for an income-based part-time fee grant of up to £1,230 per year, and all are able to access a tuition fee loan if the grant does not cover the full amount or they are not eligible. For more information, visit Student Finance Northern Ireland. If your income is £25,000 or less, or you are receiving certain benefits, you could qualify for the fee grant and top-up funding to cover 100% of your course fees.
Disabled Students’ Grants are also available to support students during their part-time course. Students must be studying at an intensity of 25% or more for this grant. The OU also offers discretionary financial assistance towards study-related costs, such as travel, childcare, and internet access for students experiencing financial hardship or exceptional circumstances.
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Additional costs and budgeting
When it comes to additional costs and budgeting for your Open University course, there are a few things to keep in mind. Firstly, it's important to distinguish between full-time and part-time student status, as this will impact the type of loan you can apply for and the amount of financial support you are eligible for.
Full-time students can apply for a Tuition Fee Loan and a Maintenance Loan. The Tuition Fee Loan is paid directly to your university or college, and you can receive up to £7,145 per academic year. The amount of Maintenance Loan you receive depends on where you live and your household income.
On the other hand, if you are studying part-time, you may be eligible for a Tuition Fee Loan, but the Maintenance Loan is not available. To be eligible for a part-time Tuition Fee Loan, your course must have a 'course intensity' of 25% or more. This means that you need to be completing at least 25% of the course in a year compared to an equivalent full-time course. The maximum amount you can receive for the Tuition Fee Loan is also £7,145 per academic year.
It's worth noting that, as an Open University student, you may have lower additional costs compared to traditional on-campus students. For example, you may not need to budget for things like travelcards, homeware, or kitchenware, as you won't be commuting to a physical campus or living away from home. However, you will still have your own living and study costs, such as purchasing textbooks or other course materials.
To help with budgeting, you can consider paying your tuition fees in instalments or through a payment plan offered by your university or course provider. Additionally, you can explore other financial support options, such as scholarships or bursaries, which are usually offered based on academic merit, personal circumstances, or household income. Students with a low household income may also be eligible for additional support from their student finance body.
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Frequently asked questions
Yes, you may be able to get a loan as a part-time student if your course has a 'course intensity' of 25% or more.
'Course intensity' measures how much of your course you complete each year compared to an equivalent full-time course.
You can work this out by comparing your module credits with the number of module credits a full-time student will study.
You can get up to £7,145 in an academic year.
International students should consult the student finance authority in their country to find out what support may be available.
