1 / 16

Student Funding 2017 & Beyond

Student Funding 2017 & Beyond. Sarah McLeod Student Services. Agenda. Tuition fees Money for living costs L oans , bursaries, fee waivers etc Student loan repayments How this works How much you could be expected to pay. University Tuition Fees.

jimmym
Télécharger la présentation

Student Funding 2017 & Beyond

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Student Funding 2017 & Beyond Sarah McLeod Student Services

  2. Agenda • Tuition fees • Money for living costs • Loans, bursaries, fee waivers etc • Student loan repayments • How this works • How much you could be expected to pay

  3. University Tuition Fees • Universities can charge up to £9,250 each year for their full time undergraduate degree courses • Fees may rise with inflation (RPI) from 2017 onwards • Increase would be linked to quality of student satisfaction, retention and graduate employment • Tuition fee rates are available on university websites Eligible students can take a tuition fee loan each year so everyone can afford to study

  4. Money for living costs • Maintenance loan • Partially means tested • Living away from parental home rate - Maximum £8,430 - Minimum £3,928+ • Living in parental home rate - Maximum £7,097 - Minimum £3,124+

  5. Student Funding 2017 Living away from home outside London £8,000 £7,000 All students should have access to around £6,266 £6,000 £5,000 £4,000 £3,000 £2,000 £1,000 Household Income £42,815 £55k £65k + £25K or less

  6. Living away from home outside London £8,000 Parental Contribution £7,000 Maintenance loan £4,799 £6,000 Maintenance loan £3,928 Maintenance loan £6,266 Maintenance loan £8,430 £5,000 £1,467 £2,338 £4,000 £3,000 £2,000 £1,000 £42,815 £55k £65k + £25K or less

  7. Additional Government Funding • Disabled Students’ Allowance (DSA’s) can help with the cost of: • Non-medical help • Specialist equipment and software • Travel and other course related costs • Non- repayable • Support based on individual needs not income • Contact Disability Services • 01642 342277 or disability@tees.ac.uk

  8. Money for living costs • Scholarship Schemes • Every university has a different scheme and details are available on university websites. Each university has their own eligibility criteria: • Who qualifies – grades, household income etc • What you can get – bursary, fee waiver etc • How to apply

  9. How to applyApply to Student Finance England: www.gov.uk/apply-online-for-student-finance

  10. Loan repayments • Student loans are very different to commercial credit; - How much you pay depends on your income - Nothingto pay until you have left education and have an income above £21,000 per year - Affordable monthly repayments - Bigger borrowing doesn't increase repayments - Any outstanding debt is written off after 30 years - It does not go on credit files - It shouldn’t affect a graduates ability to secure a mortgage - Debt collectors will not chase for it - It's repaid through the income tax system • Interest rate linked to inflation (RPI) plus up to 3%

  11. Student loan repayments £28,000pa Percentage of income £630 (2.2%) 30k 9% of £7,000 Monthly repayments 20k £52.50 18k Weekly repayments 15k £12.11 10k

  12. Loan repayment example • Graduate earning £30,000pa gross • Monthly gross income £2,500 • Pension (6%) £150 • Tax £293 • National insurance £191 • Net income £1,866 • Student loan repayment£67.50 • INCOME £1,798.50

  13. Summary • You don’t have to pay anything until after you have left education – everyone can afford to study • All full-time eligible students can apply for a maintenance loan to help with living costs • Most students will receive more help with their living costs than current students • Repayments are based on what you earn, not on what you owe

  14. Useful websites • Government services website • www.gov.uk/student-finance • More information about funding • University websites • Information about courses, bursaries, fee waivers etc. • www.tees.ac.uk • Money Saving Expert • www.moneysavingexpert.com

  15. ANY QUESTIONS?

More Related