The only thing I would add to Chris's reply is that once you send your application away, it is a fairly quick process, with the award normally being made within 5 working days. If you have disposable income, and will therefore have to make a contribution, it is usually better to agree the terms beforehand, by nominating a trustee. That avoids any surprises / shocks at a later stage. Good luck, you have obviously been thinking about this for a while.