So you want to be an actor: Funding for Drama School
Drama school training doesn't come cheap. Standard course fees will usually start at around £3,000 per year. In addition to tuition fees you'll also have to fund course materials, accommodation, travel and living expenses. Many schools have their own bursary and scholarship schemes whihc will vary from full course fees and some help towards living expenses to smaller awards which will go some but not all the way to covering your costs. Because there will be a limited number of bursaries / scholarships given out each year, competition will be tough, so you certainly can't rely on or expect to receive this kind of financial support. Check out the funding policy and opportunities for each of the establishments thoroughly before applying. (Accredited Drama Courses)
Student Loans are indexed to the rate of inflation and do not have to be paid back until you have graduated and your income is over £15,000 pa. For the year 2005/6 the maximum loan of £3,230 for students living with parents and £5,175 for students living away from parents and in London. Eligible students are automatically entitled to 75% of the maximum, the remainder is dependent on the student's income, the household income and whether or not a maintenance grant has been awarded.
Maintenance grants & loans
Maintenance grants: If you're from a low income household you may be eligible for a maintenance grant from the government. Maintenance grants are currently worth up to £2,700 and do not have to be paid back.
Maintenance loans: are similar to tuition fees and dependent on the amount of maintenance grant you may be receiving and your household income. Maintenance loans are repaid along the same lines as tuition fees.
More information: The Actor's Handbook 2006/7