Everything You Need To Know About Student Finance

Studying in London might seem expensive, but there are plenty of financial support options to help manage costs while you study at the Fashion Retail Academy.

Below is a breakdown of the different types of support you might be eligible for:

1. BURSARIES

The 16-19 Bursary Fund

If you're 16-19 on 31st August 2025, you may be eligible for a bursary to help cover textbooks, course materials, transport and meals on study days.

If you are 19+, you still may qualify if:

• You're continuing a course you started aged 16-18 (19+ continuers)
• You have an Education, Health and Care Plan (EHCP)

Vulnerable Bursary

You could get extra financial support if any of the following apply:

• You're in local authority care or have recently left
• You receive Income Support or Universal Credit because you support yourself financially
• You receive Disability Living Allowance (DLA) and either Employment and Support Allowance (ESA) or Universal Credit
• You receive Personal Independence Payment (PIP) and either ESA or Universal Credit

Free Meals

Free Meals 

You may qualify for free meals if you or your parent receive one or more of the following benefits: 

• Income Support
• Income-based Jobseekers Allowance
• Income-related Employment and Support Allowance (ESA)
• Support under part VI of the Immigration and Asylum Act 1999
• The Guarantee element of State Pension Credit
• Child Tax Credit (provided they are not entitled to Working Tax Credit and have an annual gross income of no more than £16,190, as assessed by HMRC)
• Working Tax Credit run-on – paid for 4 weeks after someone stops qualifying for Working Tax Credit 
• Universal Credit with net earnings not exceeding the equivalent of £7,400 per annum (after tax and not including any other benefits) 

2. how can I apply for a bursary?

When Can I Apply?

Once you are fully enrolled, you'll receive information about bursary application details via your FRA email during induction week.

What Documents Do I Need?

• Parent/Guardian payslips (last 2 months) or latest P60
• Parent/Guardian full benefit letters
• Proof of address (e.g. utility bills)
• Tenancy Agreement (if living alone)
• Bank statements (last 2 months) if other documents are unavailable

Income threshold: For 2024/2025, bursaries are available to students from households earning £40,000 or less per year. This may be reassessed later in the year based on available funding.

How are Bursaries Paid?

• Payments are made directly into your bank account via BACs
• Funds are allocated termly and may vary depending on applications and available funding

Please note: You must arrange your own funding at the start of your course. Bursaries are not guaranteed and are only a contribution towards costs. 

3. Advanced Learner Loans (for 19+ students)

If you're 19 and studying an approved Level 4 course, you can apply for an Advanced Learner Loan to help with tuition fees. Eligibility does not depend on income, and no credit checks are required. Repayments only start when you earn above the repayment threshold. 

Loan Repayments

Repayments begin only when your income exceeds the repayment threshold. You will need to pay 9% of income above the threshold for Plan 1, 2, 4 or 5 loans, and 6% for Postgraduate loans. For more information, please visit our Fees & Funding page.

How & When to Apply

• Applications open in May/June 2025 for the September 2025-2026 intake
• If you receive a FRA offer, we'll send you all the details, including a Learning and Funding Information Letter
• Once approved, you can also apply Advanced Learner Loan bursary after enrolment

4. Residential Support Scheme (for students living away from home)

If you need to relocate for your course, you may be eligible for financial help with accommodation costs through the Residential Support Scheme (RSS).

Who Can Apply?

• You must be 16+ at the start of the course
• Your course must be a full-time Level 2 or Level 3 course that is not available within reasonable travel distance from home
• You must meet UK residency requirements

How Much Can You Get?

Estimated maximum funding per year is:

• Up to £4,079 (outside London)
• Up to £6,409 (inside London)

How to Apply?

Applications usually open in summer before the academic year starts. You'll need:

• Proof of household income (e.g. payslips, benefit statements)
• Proof that the course isn't available locally
• Accommodation details (rental agreements, landlord information)

5. Higher Education Finanical Support (for undergraduate degrees)

If you're studying an degree with us and have applied for Student Finance, you may qualify for additional support based on your household income.

• Generally, students from households earning £40,000 or less may be eligible
• You'll be notified automatically in your second study block if you qualify 

For degree student finance queries, contact Falmouth University at studentfunding@falmouth.ac.uk

6. Additional support Options

Travel Discounts for Students

London has discounted student travel schemes to help with commuting costs, such as the 16+ Zip Oyster Card, 18+ Student Oyster Card, 18-25 Care Leaver Oyster photocard, 16-17 Railcard and 16-25 Railcard. Visit our Fees & Funding page for more information.  

Childcare Support (Care to Learn Scheme)

If you're under 20 and need help with childcare costs while studying, the Care to Learn scheme may support you. Check eligibility and apply via the Gov website.