As an Oxford/Cambridge student you apply to SAAS for your tuition fee loan and living cost grant/loan - the same way you would if you were going to university in Scotland. You will receive the same amount for your living cost grant/loan which is decided by your family’s income as if you were going to any other university.
The crucial point is that while Oxford and Cambridge have tuition fees nothing is paid upfront. It is a pay as you earn system so you only start repaying it once you reach a high minimum income threshold. What’s more, whatever you haven’t paid back after 30 years after the end of your degree is wiped entirely. This guide from Money Saving Expert explains this well: https://www.moneysavingexpert.com/students/student-loans-tuition-fees-changes/
Oxford University and Cambridge University have generous funding schemes for additional funding for students from low-income families. Follow these links to find out more about the universities’ funding: https://www.ox.ac.uk/admissions/undergraduate/fees-and-fundinghttps://www.cambridgestudents.cam.ac.uk/cambridgebursary
Furthermore, if you were to arrive at Oxbridge and find yourself in unexpected financial hardship, you will be eligible to apply for a Financial Hardship Grant. This is available at both universities, both offering up to £2000 in one year.
During your time at Oxford or Cambridge, you could be eligible for additional funding from travel grants, depending on your college and department.
We believe the best way to find out about fees, living costs and bursaries is to speak to the experts: Oxbridge students themselves. A mentor or member of our committee is always happy to discuss funding options with prospective applicants, teachers and parents.