It should be noted that NUS is not itself able to provide any financial support to individual students. Remember also that universities, colleges and other providers will also have hardship funds for students in financial need.
Educational Charities and Trusts
There are thousands of charities and trusts who make grants to individuals for their education.
Whilst it is unlikely that a course lasting more than one year could be financed entirely by such help, educational charities and trusts are in a position to provide supplementary help to students who may be without funding for part of their course, or who, for various reasons, need help over and above that provided by public funds.
Educational charities and trusts often have specific and unusual terms of reference. They may be restricted to helping, for example, students only:
- on certain courses of study; or
- above or below a certain age (often 21 or 25); or
- from particular parts of Britain or countries of the world; or
- in defined occupations, professions or industries.
It can therefore be something of a lottery as to whether a student will qualify but it is worth examining eligibility criteria carefully.
Payments tend to be for particular items or for a specific purpose, or because the charity or trust believes might make the difference between completion and non-completion for the student concerned.
Charities are often more sympathetic to students whose need for assistance results from sickness or unforeseen circumstances than to students who have mismanaged their money or who have started a course knowing they had insufficient funds.
Many charities only give assistance to first-time students. Assistance is more difficult to find if you are a postgraduate or taking a second undergraduate course. Applications often take some time to process so it is wise to apply for support well in advance of the course start date.
Finding charities and trusts
You can find details of trusts and charities through publications, many of which will be available in libraries or in advice centres. These include:
- The Educational Grants Directory
- A Guide to Grants for Individuals in Need
- Directory of Grant Making Trusts
- The Grants Register
- British and International Music Yearbook
- British Music Education Yearbook
Students in need should also consult their local authority, students’ union, careers service, Citizen’s Advice Bureaux, and local religious groups, as they may know of smaller local trusts.
Many universities and colleges will also offer bursaries, scholarships and prizes in specific subjects, so it is worth contacting student services or your department.
Educational Grants Advisory Service
The charity Family Action runs the Educational Grants Advisory Service (EGAS). This can help students identify the trusts and charities that could assist them, by matching data provided by the student to the eligibility criteria of the charities.
Sponsorships
Some employers and other organisations may sponsor individuals through their education, usually requiring the student to work at the organisation for a given period in return.
The Sponsorship and Funding Directory lists scholarships and bursaries for courses. It is often available in libraries.
Professional and Career Development Loans
If you are not eligible for student loans, you may be able to access Government-backed bank loans known as Professional and Career Development Loans (PCDLs).
Offered by both the Co-operative and Barclays banks, and available across the UK, you can borrow between £300 and £10,000 towards fees and other expenses if you are on a vocational full-time, part-time or distance learning course lasting up to two years.
The interest charged will vary but currently is typically 9.9 per cent a year. You should, however, check with the bank at the time of application. Unlike student loans, the decision to lend to you may be affected by your credit rating, and if this is poor the banks may be unwilling to lend.
Throughout your period of study and up to one month after completing or leaving the course, the Department for Business Innovation and Skills pays the interest on the loan for you. Repayments are fixed and can be spread between one and five years. If you are registered unemployed at the end of the first month of completing your course, you may apply to the bank for deferment of repayment for up to five months initially, and for two further extensions of six months each.
More information on PCDLs can be found at the Directgov website.
Other professional studies loans
Other banks have in the past offered private professional studies loans which run on the similar lines as PCDLs, but without the Government support.
In recent years these have become much scarcer, but one of the major high street banks, Natwest, still offers these loans for students on particular law courses.
Contact Natwest for more details.