University of Bradford

1. University of Bradford Student Finance 2018/19 University of Bradford Student Finance

2. University Finance: The Main Points • Changes from 2017/18 • Tuition Fees and Tuition Fee Loans • Living Cost (Maintenance) Loans • Applying for Financial Support • University Financial Support • Repayments • Key facts • Useful Information and Contacts University of Bradford Student Finance

3. Changes from 2017/18 From September 2017 nursing students and other students who used to have their fees paid by the NHS e.g. midwives and physiotherapists, will come under the same funding arrangements as all other students. Some Universities will be allowed to make inflationary increases to tuition fees each year. 2018/19 figures for loans and fees have not yet been confirmed due to the recent election, therefore 2017/18 figures have been used. University of Bradford Student Finance

4. You do not have to pay tuition feesupfront if you are going to university for the first time. From 2017 some Universities will be able to charge £9,250 for a standard degree programme, foundation years may be less and placements years will be lower still. Fees may increase by inflation each year. University of Bradford Student Finance

5. Tuition Fee Loans • The amount of tuition fee loan is matched to the course fee • You can take out a full or partial loan • The loan is paid directly to your University in 3 instalments • Pay it back when you finish your course and are earning over £21,000 – more about repayment later University of Bradford Student Finance

6. Living Cost (Maintenance) Loans • Support is now provided through a loan – there are no maintenance grants • To help with living and learning costs • Paid directly into the student’s bank account each term – 3 instalments • Amount depends on family income (means-tested) University of Bradford Student Finance

7. Living Cost Loans – 2017/18 Figures University of Bradford Student Finance

8. Living Cost (Maintenance) Loans • Maximum Loans for family incomes of under £25,000 • More money for students than when grants were available • Students who qualify for benefits get a higher rate of loan • Supplementary grants are still available – Childcare Grant, Parents Learning Allowance, Adult Dependants Grant and Disabled Students Allowances. Student Finance will calculate your entitlement. University of Bradford Student Finance

9. Living Costs Total Support for 2017/18 University of Bradford Student Finance

10. Applying for Financial Support • Apply for student finance online: www.gov.uk/apply-online-for-student-finance. Applications usually open in January • Supply your parent(s’)/partner’s income details – you may get more support if you submit household income information • Make sure you give consent for your information to be shared with the University so you can be assessed for scholarships and bursaries if available University of Bradford Student Finance

11. NHS Support for Nursing Students • £1,000 grant per year for students with children. • Reimbursement of travel and dual accommodation costs associated with placements (over and above normal travel to University) • Learner Support Fund – hardship grant of up to £3,000 per year for students in genuine hardship. University of Bradford Student Finance

12. University Financial Support • Most Universities will offer their own scholarships and bursaries – visit their website to see what is available • Scholarships are usually linked to academic achievement; bursaries are related to family income • Hardship funds will also be available if you experience financial difficulties whilst you are studying – you can also access budgeting advice and other forms of support University of Bradford Student Finance

13. University of Bradford Scholarships – 2018/19 • Academic scholarships for A*AA and AAA grades or equivalent and higher (as listed on our website) for UK and EU students • All students will be assessed automatically – you do not need to apply • AAA is worth £1,500 in year 1 (£1,000 cash and £500 Blackwell’s card) and £1,000 cash in subsequent years provided you progress with an average of 60%. • AAB is worth £1,000 in year 1 (£500 cash and £500 Blackwell’s card) and £500 cash in subsequent years provided you progress with an average of 60%. University of Bradford Student Finance

14. The University of Bradford Bursary – 2018/19 • Income related bursary scheme for 2018/19 • £500 in year 1, £600 in year 2 and £700 in year 3 and subsequent years for all Home and EU students whose family income is less than £30,000 • Must be engaging with the course • Can have this and the Academic scholarship. • Additional support and grants for Care Leavers University of Bradford Student Finance

15. Repayments • Repayments begin after you have finished/left your course, and are earning over £21,000 per year • Repayments are automatically deducted from your earnings like tax • The repayment rate is 9% of any earnings over £21,000 • The more you earn, the more you repay • After 30 years you won’t need to make any further repayments University of Bradford Student Finance

16. Repayments University of Bradford Student Finance

17. Interest on Loans Interest starts to accrue on the loans whilst you are studying (RPI plus 3%) • From the April after you’ve finished your course you’ll be charged: • The rate of inflation plus up to 3% if you earn between £21,000-£41,000 • The rate of inflation plus 3% if you earn over £41,000 University of Bradford Student Finance

18. Student Finance - Key Facts Monthly repayments are the same no matter what fee the university charges Most students will neverrepay what they owe There is interest charged on student loans but it is much lower than rates charged on commercial loans Student loan debt does not impact on your credit rating University of Bradford Student Finance

19. Useful Information www.gov.uk/student-finance http://www.slc.co.uk/students/ http://www.moneysavingexpert.com/ students/ http://www.thestudentroom.co.uk/ University websites University of Bradford Student Finance

20. University of Bradford Student Finance