What's changed for 2012?  

• Universities can now charge up to £9,000 a year in tuition fees.  Look at the institution you're interested in to find out how much they're charging.
• Charges are supported by a system of loans, grants, bursaries and scholarships.
• Student loans have to be paid back. Grants, bursaries and scholarships don't. 
• Loans can cover living costs as well as tuition fees. Repayment doesn't start until you are earning at least £21,000. If the loan isn't cleared 30 years after graduation, it will be cancelled.
• Tuition fee loans have now been extended to part-time students provided they are doing at least 25 per cent of the normal fulltime course load each year.
• Whether you're studying fulltime or part-time, if you are earning at least £21,000, you don't start repaying your student loan until the April three years after you started studying.
• If you're living in Sussex and want to find out about local finance arrangements - see Financing Your Future.
• For answers to other key questions go to the BBC's Q & A on tuition fees for clear explanations.

What hasn't changed is that having a degree can still enhance your chances of getting and keeping the kind of job you'd like to do.

Tuition loans - how do they work 

Getting a tuition loan means that you don't have to pay your fees upfront and the new rules mean that you won't have to start paying your loan back until you're earning over £21,000. If your salary falls below that, payments cease.  For example, if you get a job paying £25,000 per year, you'll only be paying back around £30 a month.  At £22,000 you'll only pay back £7.50 per month. 

• Go to YouTube for clear advice about exactly where you'll stand with a student loan.
• Martin Lewis of MoneySavingExpert.com and Wes Streeting, former president of the National Union of Students have loads of sensible advice about student loans 2012. Martin argues for this to be seen as a graduate tax rather than a loan. The website includes loads of examples of salaries and repayments that take account of salary increases over time. It also includes a very useful finance calculator.
• Check the UK government's student finance pages for the latest information about funding.

Grants, scholarships and bursaries

These don't have to be paid back and, depending on your circumstances and the institution you want to study at, they can include help with living costs, fee waivers and discounted accommodation. Different institutions offer different packages. Get more information on the government's student finance pages and from the individual university and college websites.

More detailed information

• If you're interested in studying at a college or university in Sussex (or with The Open University) look at Financing Your Future - this has been produced for young people in Sussex but is useful for anyone wanting an overview of the new arrangments and information about local provision.
• Keep an eye on the news - student loans will need to reflect the higher fees from 2012. For example, some private universities may provide intensive two-year degrees in an attempt to introduce competition into higher education. However, there is currently doubt over private university provision.
• Download these information sheets covering FAQs about 2012 study, going to university fulltime, going to university part-time.

What about studying with The Open University?

Go to The Open University website for information about the cost of studying and advice about student loans and Open University Student Budget Accounts.

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