Going to university should be one of the happiest times of your life but you do need to be aware of the financial aspect of being a student. Student financial aid is made available by the government and it's important that you're aware of the assistance that you could be eligible for.

At the time of writing, financial hel that you can receive as a student comes in two flavours: help with tuition fees and student loans.

Students from the very lowest income families are not expected to pay tuition fees. In academic year 2004/05 this means that you'll get your tuition fees paid in full if your family's income is below £21,474. The maximum contribution (for those with a family income over £31,973) is £1,150 per year.

Student loans, unlike help towards tuition fees, need to be repaid in the future. They are provided at a lower interest rate than commercial loans and you're expected to start paying them back once you find a job that pays a salary over a certain threshold.

The amount of money that you're allowed to borrow will depend upon your individual circumstances (such as whether you're studying in London and whether you'll be living at home). The exacts details change each year, so it's best to talk to an organisation such as your Local Education Authority, who should be able to provide you with the latest information.