student finance

Payment for higher education, whether by grants, loans, parents, or the student working part-time. Since 1998 full-time students starting higher education in England and Wales have had to contribute towards their tuition fees, although the amount payable is means-tested on income, and around 50% of students do not have to pay any tuition fees. Maintenance grants were phased out and replaced by student loans for living expenses, repayable after leaving higher education. 25% of a student's annual loan is means-tested, leaving a basic entitlement of 75%.

In Scotland, students do not pay annual tuition fees, but are liable to pay a fixed amount at the end of their course; for entrants in 2001–02 this was £2,000.

US student loans In the USA, private organizations called loan guarantors act as intermediaries between the federal government and banks providing the money. The guarantor repays the money if the student defaults, and the government then reimburses most or all the money to the guarantor.