Tuition Fees and Student Finance 2012-13

1. Tuition Fees and Student Finance 2012-13 A summary of the presentations made by Student Finance England reps, & Peter Boursnell, Brent Aimhigher Coordinator UCAS Annual Conference February 2012

2. Overview • Update on Tuition Fees • Student loan from 2012 • What does it mean for you?

3. Government claims the new arrangements will ensure … • all graduates will pay less per month than they do under the current system. • all outstanding repayments will be written off after 30 years • around a quarter of graduates, those with the lowest lifetime earnings, will pay less than under the current system. The Browne Report suggested that only the top 40% of earners on average will pay back the full amount of their loan over the 30 year repayment period. This percentage was based on its recommendations and may be different under the government’s proposals.

4. Important things to remember • No up front payments made • No payments at all until graduate earns £21,000 • 9% earnings above the threshold are collected for repayment • Loan written off after 30 years

5. Summary of Proposals

6. Loan Repayment • Repayments are collected through tax system, starting April after graduation • Currently; only repay if earning above £15,000 per annum or £1,250 per month gross • Proposed; only repay if earning above £21,000 per annum or £1,750 per month gross • 9% earnings above threshold are collected for repayment • Loans taken A/Y 06/07 or after written off after 25 years • Loans taken A/Y 12/13 or after written off after 30 years

7. Case Studies NB: The following figures are calculations made by the presenter, they are not official figures

12. Conclusions • Think seriously about applying to university: • If you do not see yourself in graduate employment after university, there may not be much point in going at all! • All the research shows that graduates are, on average, happier, healthier and wealthier than the rest of the population! • Make sensible choices to ensure that you get value for money. UNITSTATS. • When you get there, demand value for money!

13. Conclusions cont. • Although you will probably be paying more overall for your university studies • You do not have to make any up-front payments • Your rate of payment will be less than students currently pay • If you go into graduate employment, monthly repayments will be well within your means. • Rather than a loan (and therefore a debt) it makes more sense to see tuition fees as a graduate tax. • In 1970s when there was no tuition fees or student loans, basic income tax was between 30 and 35%. People managed. • It is as if your income tax will be 29% rather than 20%. You’ll manage.

14. Annual Conference for Teachers and Advisers 9-10 February 2011 Mary Curnock Cook Chief Executive

15. The World of Higher Education 2011-12 • Massive expansion of Higher Education in last 10-15 years • Government cuts in HE funding – esp. teaching budget • Financial penalties on HE institutions for taking students above quota • Rise in tuition fees won’t offset govt funding cuts

16. Why Universities like state school students … “Hoare and a colleague studied the results of 4,305 students admitted to Bristol in 2002-4. The starkest result was the 54% gap in firsts between state and private school students with three As at A-level.” From the Sunday Times

17. General guidance • Minimum entry requirements • Are minimum entry requirements • Achieving minimum entry requirements gets you on the pile that gets considered • Then additional sifts are applied • Everyone competing for the place your candidates want will also meet the minimum requirements • Ask mentor/D Studies about the likely sifting process at target institutions • Ring them yourself

18. Some application strategies......... • Broaden your choice of institution

19. Top15 institutions - independent school accepts

20. Other Russell Group universities • Cardiff • Edinburgh • Glasgow • Liverpool • LSE • Queen’s Belfast • Sheffield

21. Challoner applications to Russell Group universities 2011 • No of students applying 40 (out of 82) • No of applications 93 (out of 407) • Offers so far 59 (out of 93) – 66% • No of rejections 15 (out of 93) - 16% • Offer range A*AA – BBB (most AAA/AAB) • Highest offers: Birm, Bristol, Cam, Leeds, LSE, Soton

22. 1994 Group Lancaster University University of Leicester Loughborough University Queen Mary, University of London University of ReadingUniversity of St Andrews School of Oriental and African Studies University of Surrey University of Sussex University of York University of Bath Birkbeck, University of London Durham University University of East Anglia University of EssexUniversity of Exeter Goldsmiths, University of London Institute of Education, University of London Royal Holloway, University of London

23. Challoner applications to 1994 Group universities 2011 • No of students applying 44 (out of 82) • No of applications 81 (out of 407) • Offers so far 62 (out of 81) – 66% • No of rejections 4 (out of 81) - 16% • Offer range A*AA – BBB (most AAB/ABB)

24. University Alliance • Nottingham Trent University • The Open University • Oxford Brookes University[1] • University of Plymouth • University of Portsmouth • University of Salford • Sheffield Hallam University • Teesside University • University of Wales Institute, Cardiff • University of Wales, Newport • University of the West of England • Aberystwyth University • Bournemouth University • University of Bradford[3] • De Montfort University • University of Glamorgan • Glasgow Caledonian University • University of Hertfordshire • University of Huddersfield • University of Lincoln • Liverpool John Moores University • Manchester Metropolitan University • Northumbria University

25. Challoner applications to University Alliance universities 2011 • No of students applying 44 (out of 82) • No of applications 66 (out of 407) • Offers so far 55 (out of 66) – 66% • No of rejections 5 (out of 66) - 16% • Offer range ABB (320) – 220 (CCD) • Average offer 280 (BBC)

26. Million + Group • University of Abertay Dundee • Anglia Ruskin University • Bath Spa University • University of Bedfordshire • Birmingham City University • University of Bolton • Buckinghamshire New University • University of Central Lancashire • Coventry University • University of Derby • University of East London • Edinburgh Napier University • University of Greenwich • Kingston University • Leeds Metropolitan University • London Metropolitan University • London South Bank University • Middlesex University • University of Northampton • Roehampton University • Southampton Solent University • Staffordshire University • University of Sunderland • Teesside University • Thames Valley University • University of The West of Scotland • University of Wolverhampton

27. Challoner applications to Million + universities 2011 • No of students applying 29 (out of 82) • No of applications 52 (out of 407) • Offers so far 30 (out of 52) – 58% • No of rejections 5 (out of 66) - 13% • Offer range 340 – 120 • Average offer 240 (CCC)

28. Challoner applications 2011 overview so far

29. Some examples of good choices

30. Some examples of poor choice range

31. Strategies.......... • Make sure you have a range of institutions among your choices: • 1 aspirational • 2-3 realistic • 1 ‘if all else fails’ • Insurance choice • It’s a backstop not a second option • Last year 42% had CIs harder or equal to CFs • Consider post qualifications admission