How Do People Really Afford to Study?

Peaches James
May 10
3 min read

Studying can feel out of reach, not because you don’t want to learn but because the price tag is a bit much.

For a lot of working-class families and other marginalized groups, the thought of taking on a five-figure student loan just to move forward feels wrong.

And in a way, you’re right to pause.

But there are options.

Student loans work differently to other types of debt.

And there’s free money out there too; bursaries, grants and scholarships — that often go unclaimed.

This chapter is here to show you what’s out there, how it works and how to decide what fits your situation.

Understanding Student Loans (UK)

Student loans sound scary but they’re not like credit cards or payday lenders.

You don’t repay until you’re earning enough and even then, it’s a percentage — not a full bill.

What They Cover:

Tuition fees (paid directly to your uni)
A maintenance loan (money for rent, bills, food — paid to you)

How You Pay It Back (Plan 5 — 2025 onwards)

You repay 9% of whatever you earn above £25,000/year
If you earn less, you pay nothing
If your income drops later, repayments stop automatically
After 40 years, any remaining debt is wiped

Example: If you earn £30,000, you only repay 9% of £5,000 — which is £450/year or about £37/month.

It’s not a big monthly debt but yes, it is a long commitment.

So Is It Worth It?

That depends.

If you’ve found a course that opens real doors for you and student finance is the only way to access it, then explore those options.

But if your heart says “yes” and your gut says “I’m not sure,” pause.

Because there are other paths too — and we cover them in:

The Bit No One Talks About: Free Money

A lot of people don’t realise that grants, bursaries and scholarships exist — even in the UK.

They’re not just for straight-A students.

They’re for carers, single mums, Black women in tech, people with ADHD and people who’ve had to start over.

And they don’t have to be paid back.

What to Look For:

Type	What It Can Help With	Where to Look
Bursaries	Tech, travel, equipment, rent	Uni websites, widening participation teams
Grants	Emergency money, hardship support	Turn2Us Grants Search
Scholarships	Course fees or cost of living	The Scholarship Hub
Childcare Grants	Nursery or registered childminder	Apply with student finance
Disabled Students’ Allowance (DSA)	Equipment, software, support workers	Included in student finance forms