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Student Funding 2013/14 entrants

Student Funding 2013/14 entrants. Aim of presentation:. What are the costs of going to university? What support is available to meet these costs? What you need to do to access the support?. Tuition Fees . Cardiff University will be charging £9,000 pa for all Undergraduate

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Student Funding 2013/14 entrants

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  1. Student Funding2013/14 entrants

  2. Aim of presentation: • What are the costs of going to university? • What support is available to meet these costs? • What you need to do to access the support?

  3. Tuition Fees Cardiff University will be charging £9,000 pa for all Undergraduate courses from September 2012 Tuition Fees for 2013/14 are to be confirmed

  4. Students will not have to pay Tuition Fees up-front while they study • Tuition fee loans are available to all eligible students • Covers whole of the tuition fee • Not dependant on household income • Paid directly to the university • Student repays after they have graduated

  5. The New Tuition Fee Grant 2012/13 For those students resident in Wales before the start of their course: • Tuition Fees in 2012/13 are £9000 • Tuition Fee Loan available up to £3465 • New Tuition Fee Grant to cover remaining fees of £5535 • Paid by the Welsh Government • These students can study anywhere in the UK and receive the tuition fee grant • Does not depend on household income • Is non-repayable as it is a grant Keep checking www.studentfinancewales.co.uk for information about funding for students starting in 2013/14.

  6. Financial support to help students with their living costs Types of funding: • Amount available depends on household income • Assessed on tax year 2011/12 for 13-14 entrants • Paid to the student in 3 instalments during the academic year

  7. Students who normally live in Wales(12-13 figures – check www.studentfinancewales.co.uk for updates soon. The figures may increase slightly with the rate of inflation)

  8. Students who normally live in England(13-14 figs subject to parliamentary approval)

  9. Repayments • Tuition Fee Loan & Maintenance Loan are added together for total amount of student to be repaid • Interest rate is RPI + up to 3% max • Repayment depends on level of earnings, not the amount borrowed • Repay 9% of income over £21,000 • Wales - £1500 written off maintenance loan debt at repayment

  10. Repayment Calculator

  11. COMMON QUESTION: Does taking out a Student Loan affect credit rating and applying for a mortgage? • Student Loans are not commercial loans • Not noted on credit report so should not affect credit rating. • Unlikely to affect ability to get a mortgage • Mortgage Calculations should relate to disposable income • New system graduates have higher disposable income than current system

  12. Additional funding Non Income assessed - Disabled Students’ Allowance (DSA) to help with extra costs of studying related to disability or dyslexia Income assessed - Allowances if you have children Child Care Allowance Adult Dependent’s Grant Awards are in the form of a grant & do not have to be repaid

  13. Students have to apply for funding each year of their course

  14. Cardiff University Bursaries – 2012/13 • Depends on household income • Must be eligible for UK statutory funding • Assessed with statutory funding application, so no need to apply separately. For more information, please see: http://www.cardiff.ac.uk/for/prospective/ug/scholarships *Based on student funding for non-final yr student, living away from home. Please note these figures are bursaries on offer for 12-13 entrants. Please check the web from summer 2013 onwards for details for 13-14 entrants

  15. Bursary Example Based on the household income of a Welsh domiciled student at £29,990: Eligible for Maintenance Loan of:     £2,033Eligible for Assembly Learning Grant of:   £3,526Total statutory funding for year :    £5,559 As household income is under £30,000, the Cardiff University bursary will top up statutory funding to £7500. £7,500 - £5,559 = £1,941 Cardiff University Bursary

  16. Additional Cardiff University Grants 2012/13* Communities First Award • Students from a Communities First Area (Wales), household income under £42,600, will receive either £1000 discount in University residence fees or £500 travel grant. • There is a post code checker at www.artswales.org.uk/postcode-lookup-tool or contact communities.first@wales.gsi.gov.uk Care Leaver Bursary • £1000 in 1st year, £750 in subsequent years and £500 in final term. • If declare on UCAS application that you have been in care, the university mentor will contact you. Otherwise, please contact Einir Evans in the Student Support Centre. Next Step Bursary • £1000 in 1st yr if household income is under £42, 600 and already part of the University Step Up Programme *please check www.cardiff.ac.uk/for/prospective/ug/ for 13-14 updates later

  17. Scholarships - 2012/13 • £3,000 over whole course – gain AAA at A-level (or equivalent) and satisfy all aspects of their offer. • Must accept offer from Cardiff on firm basis by end July before start of course. • Don’t need to formally apply as will automatically be considered for a scholarship once A level results are released

  18. Scholarships - 2012/13* Current courses with scholarship: Archaeology Biosciences (Ecology, Genetics, Microbiology, Molecular Biology, Zoology) Chemistry Computer Science Earth and Ocean Sciences Engineering (Integrated Engineering, Electronic & Communications Engineering, Electrical & Electronic Engineering, Computer Systems Engineering, Medical Engineering) German Italian Physics Welsh *For more information and updates please check: www.cardiff.ac.uk/for/prospective/ug/scholarships/

  19. Useful web addresses www.direct.gov.uk/studentfinance www.studentfinancewales.co.uk www.delni.gov.uk/studentfinance www.saas.gov.uk Check for updates on student funding and apply online

  20. Initiative with the aim to improve students financial capability • Cardiff University Student Support iApp • Budgeting Sessions • Taste Test • Basket Challenge • Energy Efficiency • Recycle Christmas • Swap shop

  21. Where will my money go? Books & Photocopying Accommodation Fees Travel Food Clothing Socialising

  22. Budget Weekly costs • Halls (incl bills) £87 • Food £33 • Toiletries/laundry £5 • Books/copying £8.75 • Travel (inc. travel home) £9 • Phone, T.V, Insurance £8.50 • Social/leisure £30 • Clothes £7.50 Total £188.75

  23. Maximising income BOGOF offers Part time work Choosing the right bank account, eg, for their overdraft facilities Student discount in shops, cinemas & pubs Rail cards Buy Second hand books

  24. Keep updated www.cf.ac.uk Current students ↓ Student support

  25. Contact us 50 Park Place, Cathays Park Campus 029 2087 4844 2nd Floor, Cardigan House, Heath Park Campus 029 2074 2070 studentsupportcentre@cardiff.ac.uk www.cardiff.ac.uk/studentsupport

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