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MEDICINE OPEN DAY

This overview outlines the funding arrangements for prospective medicine students for the 2014/2015 academic year. It details tuition fees set at £9,000 for new full-time UK and EU students at the University of Leicester, and describes variations based on residency in England, Northern Ireland, Scotland, or Wales. It clarifies living costs, maintenance grants, and loans available for students, ensuring they understand their entitlements and sources of advice. Further updates on funding will be available in Summer/Autumn 2013.

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MEDICINE OPEN DAY

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  1. MEDICINE OPEN DAY Student Finance 2014/2015

  2. Introduction • Details relating to funding arrangements for academic year 2014/15 yet to be fully confirmed. • Arrangements subject to amending legislation • Updates available in Summer/Autumn of 2013

  3. Aims To provide an overview of funding arrangements from 2014/5 onwards Allow prospective students to gain a better understanding of the types of support they may be entitled to To ensure prospective students know where to get further advice and guidance

  4. Funding • The funding arrangements vary depending on where you normally live: • England • Northern Ireland • Scotland • Wales • Non-UK European Union

  5. Modes of Study • The MBChB is offered as either a 5-year course or a 4-year graduate entry . The funding differs in three ways: • 5-year, first degree • 5-year, graduate • 4-year, graduate entry

  6. Tuition Fees 2014/2015 • All new, full time, Home (UK and EU) students will be charged £9,000 by the University of Leicester in academic year 2014-15

  7. Tuition Fees 2014/2015UK students from England First degree students • No up-front fees • Years 1 to 4 = Fee Loan • Year 5 = NHS Fee Grant • Repayment of all borrowing after graduation

  8. Living CostsUK students from England First degree • Parents/spouse means-tested to determine level of funding

  9. Living Costs 2014/15 UK students from EnglandYears 1 to 4, first degree Maintenance Grant • Fully means-tested • payable on sliding scale up to income of £42,620 • max £3,387 if income £25,000 or less Maintenance Loan • 35% means-tested • Maximum Maintenance Loan rates 2014/15 - Students living away from home £5,555 (min £3,610) - Students living at home £4,418 (min £2,871)

  10. Living CostsUK students from England Years 1 to 4, first degree • Maintenance LOAN entitlement is reduced if student receives a GRANT • LOAN is reduced by 50p for every £1 of Maintenance GRANT payable • E.G. Maintenance Grant of £1,000 = £500 reduction in Maintenance Loan

  11. Living CostsUK students from England Years 1 to 4, first degree

  12. Living Costs 2014/15UK students from EnglandYear 5, first degree • Partial non means-tested Maintenance Loan • *£2,324 – Final Year £1,811 • NHS Bursaries • (2013-14 rates) • Non means tested grant £1,000 • *Means tested bursary max £2,591 (30 weeks) , £4,395 (45 weeks +) *Away from home rates

  13. Tuition Fees 2014/2015UK students from Northern Ireland First degree students • No up-front fees • Years 1 to 4 = Fee Loan • Year 5 = Fees paid by Department of Health, Social Services and Public Safety • Repayment of all borrowing after graduation

  14. Living Costs 2014/15 UK students from Northern IrelandYear 1-4, first degree 2013-2014 rates Maintenance Grant Level of support depends on household income Up to £3,475 per year if income below £19,203. Partial grant if income between £19,204 and £41,065 Maintenance Loan Maximum £4,840 if living away from home whilst studying An extra £84 per week if studying more than 30 weeks during the academic year and ‘living away from home’

  15. Living Costs 2014/15UK students from Northern IrelandYear 5, first degree • Maintenance Loan • 2014/15 details to be confirmed • 2012/13 rate £2,370 - £1,850 in Final Year • Department of Health, Social Services and Public Safety Bursary – fully means-tested • 2014/15 details to be confirmed • 2012/13 max approx.£2,335

  16. Tuition Fees 2014/2015UK students from Scotland First degree students • No up-front fees • Years 1 to 4 = Fee Loan • Year 5 = SAAS Fee Grant • Repayment of all borrowing after graduation

  17. Living Costs 2014/15UK students from ScotlandYear 1-5, first degree 2013-2014 rates All support based on household income

  18. Tuition Fees 2014/2015UK students from Wales First degree students • No up-front fees • Years 1 to 4 = Fee Loan + Fee Grant • Year 5 = NHS Wales Fee Grant • Repayment of all borrowing after graduation

  19. Tuition Fees 2014/2015UK students from Wales First degree students • Welsh Assembly Fee Grant to cover the increase in fee costs. • E.g. In 2014-2015 a pre-2012 entry CONTINUING student will pay a tuition fee of £3,465 • Welsh Assembly Fee Grant will cover difference between this rate and the Tuition Fee being charged to NEW students. • This will allow students to take out a Tuition Fee Loan of £3,465 and be awarded a Fee Grant of £5,535

  20. Living Costs 2014/15UK students from WalesYear 1-4, first degree 2013-14 rates Assembly Learning Grant Amount received depends on your household income £18,370 or less: Full £5,161 grant, Between £18,371 and £50,020: Partial grant Over £50,020: No grant Maintenance Loan The maximum available to students ‘living away from home’ and studying outside of London is £5,150

  21. Living Costs 2014/15UK students from WalesYear 5, first degree • Partial non means-tested Maintenance Loan • 2014/15 details to be confirmed • 2013/14 rate £2,522 - £1,966 in Final Year • NHS Bursaries • 2014/15 rates to be confirmed • 2013/14 • Non means tested grant £1,000 • Means tested bursary max £2,591

  22. Tuition Fees 2014/2015UK students from England Graduate entry student: 4-year course • Year 1 • Tuition Fee Loan available to cover gap between fees charged to pre 2012 entry returning students and fees charged to new students. E.g. 2014/15 continuing students fees = £3,465, new students fees = £9,000. Tuition Fee Loan available = £5,535. • Years 2 to 4 • NHS Fee Grant to cover level of fees charged to continuing students • Tuition Fee Loan to cover rest of fees

  23. Living Costs 2014/15UK students from England4-year graduate entry • Year 1 • Full Maintenance Loan available • 65% means-tested • Between £3,610 and £5,555 (away from home rate) • Years 2 to 4 • Partial non-means-tested Maintenance Loan • 2013/14 rate £2,324, drops to £1,811 in Final Year • NHS Bursaries • Non means tested grant £1,000 • Means tested bursary max £2,591 (30 weeks), £4,395 (45 weeks +)

  24. Tuition Fees 2014/2015UK students from England Graduate entry students: 5-year course • Years 1 to 4 • Fees payable by student, no Tuition Fee Loan available • Year 5 • Partial NHS Fee Grant of £3,465 • Student pays remaining liability

  25. Living Costs 2014/15UK students from England5-year, second degree • Years 1 to 4 • Full Maintenance Loan available only • 65% means-tested • Between £3,610 and £5,555 (away from home rate) • Year 5 • Partial non-means-tested Maintenance Loan • 2013/4 - £2,324 or £1,811 in final year • NHS Bursaries • Non means tested grant £1,000 • Means tested bursary max £2,591 (30 weeks), £4,395 (45 weeks +)

  26. Tuition Fees 2014/2015 UK students from Northern Ireland • Graduate entry student: 5-yearand4-yearcourses • Fees payable by student for full course – no Tuition Fee Loan or DHSSPS Grant

  27. Living Costs 2014/15UK students from Northern Ireland • Graduate entry student: 5-yearand4-yearcourses • Means tested Maintenance Loan of up to £4,840 (2013-2014) available each year, if living away from home whilst studying • Extra Weeks Allowance of £84 per week • Final Year rate currently £4,480

  28. Tuition Fees 2014/2015 UK students from Scotland Graduate entry student 4-year course • Years 1 to 4 • Fees payable by student, no fee loan available

  29. Living Costs 2014/15UK students from Scotland4 - year graduate entry • Years 1 - 4 • Can apply for a Maintenance Loan of up to £6,500 during each year of study (£5,500 if classed as a ‘Young Student’)

  30. Tuition Fees 2014/15UK students from Scotland • Graduate entry student: 5-year course • Years 1 to 4 • Fees payable by student, no loan available • Year 5 • Fee Grant available from the Student Awards Agency for Scotland

  31. Living Costs 2014/15UK students from Scotland5 -year graduate entry Years 1 - 4 Can apply for a Maintenance Loan of up to £6,500 during each year of study (£5,500 if classed as a ‘Young Student’) Year 5 Students can apply for:

  32. Tuition Fees 2014/2015UK students from Wales Graduate entry student: 4-year course Year 1 • Tuition Fee Loan available to cover gap between fees charged to continuing students and fees charged to new students. E.g. 2013/14 continuing students fees = £3,465, new students fees = £9,000. Tuition Fee Loan available = £5,535. Years 2 to 4 • NHS Fee Grant to cover level of fees charged to pre- 2012 entry continuing students • Tuition Fee Loan to cover rest of fees

  33. Living Costs 2014/15UK students from Wales4-year graduate entry • Year 1 • Full means tested Maintenance Loan • Up to £5,150 (away from home rate) • Years 2 to 4 • Partial non-means-tested Maintenance Loan • 2013/14 rate £2,522, drops to £1,966 in Final Year • NHS Bursaries • Non means tested NHS Grant £1,000 • Means tested bursary max £2,591

  34. Tuition Fees 2014/2015UK students from Wales Graduate entry students: 5-year course • Years 1 to 4 • Fees payable by student, no Tuition Fee Loan available • Year 5 • NHS Wales Fee Grant covering £3,465 • SFW Tuition Fee Loan available to cover the outstanding liability

  35. Living Costs 2014/15UK students from Wales5-year, second degree • Years 1 to 4 • Full Maintenance Loan available • Up to £5,150 (away from home rate) • Year 5 • Partial non-means-tested Maintenance Loan • 2013/4 - £2,522 or £1,966 in Final year • NHS Wales Bursaries • Non means tested grant £1,000 • Means tested bursary max £2,591

  36. EU Students • Students can apply for fee support on the same basis as English domiciled students via the student loan and NHS grant • Ineligible for living cost support • Some exceptions linked to: • Length of time in UK • Family situation

  37. Repayment of Borrowing Repayments begin from April after graduation if earning more than £21,000 p.a. You repay 9% on income above £21,000 • Income £25,000 per year - repayments £30:00 per month • Income £40,000 per year - repayments £142:50 per month • Income £50,000 per year - repayments £217:50 per month

  38. Repayment of Borrowing(subject to Parliamentary approval) Interest on loans will be applied at inflation (RPI) + 3% up until the April after you leave university If you are earning below £21,000 from the April after you leave university, interest will be applied at the rate of inflation If you earn between £21,000 and £41,000, interest will be applied between RPI and RPI + 3% on a gradual scale Earning above £41,000 interest will be applied at RPI + 3%

  39. National Scholarship Programme 2014/15 bursary/scholarship arrangements to be confirmed. 2013-14 University of Leicester National Scholarship Only available to First Degree students from England (Years 1-4) £3,000 award - £2,000 towards your tuition fee each year - £1,000 cash each year Eligibility linked to household income and academic achievement Application information provided after you receive your offer of a place at Leicester CULN College Transition Scholarship £1,000 cash available in your first year only For students from colleges which are members of the Colleges-University of Leicester Network (CULN)  Apply through your local college Further information at www.le.ac.uk/study/fees

  40. How to meet additional needs If you are a parent or have an adult dependant you may be eligible for assistance through additional means tested support • Parents Learning Allowance £1,523 max • Childcare Grant max of £150:23 per week for one child and £257:55 per week for two or more children • Adult Dependants Grant maximum of £2,668 SFE 2014-2015 rates shown – support may vary regionally

  41. Sources of additional support • Part-time work • Bank overdraft / services • Family • Savings • Charities / Trusts • http://www.turn2us.org.uk/ • http://www.family-action.org.uk • http://www.money4medstudents.org

  42. Further Information • University of Leicester funding • www.le.ac.uk/fees • Student Welfare Service • www.le.ac.uk/welfare • 0116 223 1185 • welfare@le.ac.uk • @uolsupport • University of Leicester Student Support Services • www.le.ac.uk\sss

  43. Further Information Where you normally live determines who you apply to for support and information: • England 0845 300 5090 www.direct.gov.uk/studentfinance • Northern Ireland Call local ELB www.studentfinanceni.co.uk • Scotland0300 555 0505 www.saas.gov.uk

  44. Further Information • Wales 0845 602 8845 www.studentfinancewales.co.ukwww.cyllidmyfyrwyrcymru.co.uk • NHS England 0300 330 1345 http://www.nhsbsa.nhs.uk/Students.aspx • NHS Wales 02920 196 167 http://www.wales.nhs.uk/sitesplus/829/home • SFE EUTeam +44 (0) 141 243 3570 www.direct.gov.uk/studentfinance

  45. Thank you for listening - any questions?

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