Whichever way you look at it, money worries may be a major factor in determining whether or not you’re going to carry on with your education.  The financial implications of taking part in further or higher education will certainly vary depending on which path you choose to take – ranging from the relatively inexpensive to the very expensive!

Higher education is usually the more expensive of the two.  This is due to a number of factors, particularly tuition fees which may be as much as £1150 per year depending on your circumstances.  There’s also the cost of living away from home to take into account too if you have to move away.  Not everyone has to pay the tuition fees though – so if you think that’s just too much for you to pay then don’t give up!  Make sure you investigate whether the fees apply to you.

There may be financial assistance available to you, depending on your circumstances.  There is a range of grants and loans available to different people, and you should make sure you thoroughly look into these when you’re considering your education.

Here are a few details about some of the main sources of finance for students:

Education Maintenance Allowance (EMA) - This is a new allowance available to some students taking part in further education.  It pays between £10-£30 per week directly into your bank account if you qualify for the scheme.  Qualification depends on a number of factors, for example your household income must be under £30,000 per year and you must be taking part in guided education for at least 12 hours per week.  For full details and to find out if you qualify, visit the EMA website.

Student Finance Direct - For higher education students.  Depending on your circumstances you may be entitled to financial support from SFD.  Note that any money you receive from this scheme may be repayable once you graduate.  Visit their website for full details. 08456 077 577.

Student Loans Company - Again, for higher education students.  SLC may lend you money each year of your course, and again this money is repayable with interest once you graduate.  See their website for full details.  0800 40 50 10.

NHS Childcare Allowance - If the course you’re attending is sponsored by the NHS you could be entitled to as much as £170 per week for childcare costs depending on your personal circumstances.  Call their helpline to see if this applies to you: 0845 009 2559.

To get a fuller picture of what you're entitled to, you could try speaking to a Citizens' Advice Bureau adviser or a Welfare Rights worker.  You can contact Hyndburn CAB on 304110 or visit their website.  Welfare Rights can be reached on 301141, or by email at accrington@lancswelfarebenefits.com