UK pays £5.7bn first term student loans in new academic year

In the new academic year of 2026/27, the United Kingdom allocated £5.7 billion in student finance, comprising £3 billion for maintenance loans and £2.7 billion for tuition fee payments. The Student Loans Company revealed these figures in a report on the UK Home Office website on Wednesday. The company explains that the £3 billion in maintenance loans were disbursed directly to students in September, while the £2.7 billion in tuition fee payments were transferred to education providers in October.

Most first-term payments were made, but the company continues to assist students who applied after the deadline, providing the minimum level of student finance to ensure they have the necessary funding to start their term. Late applicants received the minimum maintenance loan and tuition fee loan to secure their funding. The remaining funding will be paid as a top-up once all application details have been confirmed.

It is important to note that student loans are voluntary and not compulsory for tertiary students. The company advises students to apply as early as possible, as applications may take up to four weeks to process. Starting courses on or after January 1, 2027, will require students to apply for student finance through the Lifelong Learning Entitlement funding scheme, with applications expected to open by the end of October 2026.

The figures provided are provisional, with full-year figures to be published in the Student Support for Higher Education statistical release on November 26, 2026.