1 / 24

Student Finance 2012 Entry

Student Finance 2012 Entry. Widening Participation Team. Key facts. Tuition fees do not have to be paid up front whilst studying full or part-time Repayments based on what you earn, not what you owe Government financial help with living costs available for full-time UK students

shea
Télécharger la présentation

Student Finance 2012 Entry

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 Finance 2012 Entry Widening Participation Team

  2. Key facts Tuition fees do not have to be paid up front whilst studying full or part-time Repayments based on what you earn, not what you owe Government financial help with living costs available for full-time UK students Should be viewed as a contribution to cost of studying not debt £150m National Scholarship Programme – targeted support – universities decide to allocate funds eg: • Fee reductions • Discounts for accommodation • Cash (Government limit of £1,000)

  3. Key elements of student finance Other funding University Scholarships University Bursaries Other Grants Living Costs Grant Living Costs Loan Tuition Fee Loan

  4. Tuition fees - examples Aberdeen - £9,000 Edinburgh - £9,000 Liverpool- £9,000 Manchester - £9,000 Hull - £9,000 Lincoln - £9,000 Bangor - £9,000 Loughborough - £9,000 Aberystwyth - £9,000 Cambridge - £9,000 Gloucestershire - £8,250 Hertfordshire - £9,000 Kent - £9,000 Oxford- £9,000 Sussex - £9,000 Brighton - £9,000 Bristol - £9,000 Chichester - £8,500 Southampton - £9,000 Portsmouth - £8,500

  5. Tuition Fee Loan Government Loan to cover the full cost of tuition fees whilst you are studying Non-income assessed Paid directly to the university Increase replaces government funding

  6. Student loan for living costs Partly on basis of family income Maximum annual loan available: • Living at home: £4,375 • Studying outside London: £5,500 • Studying in London: £7,675 Paid direct to the student in three instalments per year To help pay for: • Rent • Food • Books & materials • Travel • Entertainment / leisure

  7. Repayment of loans Start repaying April after graduation only IF you earn above £21,000 (updated annually from 2016) Collected ‘at source’ If earnings fall below £21,000 a year – between jobs, return to study, parental leave – payments will stop Payments deducted directly from salary by employer All outstanding payments will be written off after 30 yrs. Repayments are set at 9% of income above £21,000 Interest rates are linked with inflation: • traditionally very low + 3% • credit card interest is between 15% & 35% and most store cards charge over 30% Payments are more affordable than current system

  8. Proposed student loan repayment Repayments made on 9% of income above £21,000 Currently a student earning £25,000 would be paying £74 per month Source: Department for Business, Innovation & Skills March 2011 Monthly repayments same whether loan for £6,000 or £9,000 per year.

  9. How much will you repay (at actual prices)? www.moneysavingexpert.com

  10. Living cost grant Maximum of £3,250 per year Means-tested on family income Then sliding scale of amounts: • Income up to £25,000 = £3,250 • Income greater than £42,000 = £0 Paid direct to the student in three instalments per year To help pay for: • Rent • Food • Books & materials • Travel • Entertainment / leisure

  11. Examples of possible weekly term-time income based on 39 week accommodation contract period NB: students from lower income families may also be eligible for university bursaries – maximum cash pay out of £1,000 per year, fee discounts may also be available

  12. Other Government Grants Disabled Students Allowance: • Helps disabled students meet additional study costs Special Support Grant: • Instead of Maintenance Grant if the student is on Income Support or Housing Benefit Child Care Grant Parent’s Learning Allowance Adult Dependants’ Grant Dance & Drama Awards Social Work Bursaries NHS Bursaries

  13. NHS Funded – 30 week courses All students eligible for £1,000 grant Maintenance loan reduced in final year of study additional allowances are available for disabled students and students with dependent adults and/or children Apply through SFE for loan

  14. NHS funded – 45 weeks All students eligible for £1,000 grant Maintenance loan reduced in final year of study additional allowances are available for disabled students and students with dependent adults and/or children Apply through SFE for loan

  15. University of Brighton bursaries • Care leavers bursary: • young people leaving local authority care • Widening access bursary: • students from low income families who are from neighbourhoods where fewer people than average go to university • Aimhigher bursary: • students from local area previously participating in University of Brighton or Aimhigher Sussex widening participation programme • Also bursaries for students from lower income families studying four year courses in architecture, pharmacy and teaching

  16. University of Brighton bursaries Bursaries not paid during salaried industrial placement year.

  17. University of Brighton scholarships Elite athletes scholarship: • Bursary up to maximum of £1,500 per year • Sports / academic mentor Talented sports performers scholarship: • Financial assistance up to maximum of £500 per year • Access to sports coaches Disabled athletes scholarship: • Five bursaries at £1,000 each • Sports / academic mentor

  18. University of Brighton Student Support Fund Students apply for means tested support funds For those students in real need who do not meet access bursary thresholds

  19. Other funding Scholarships - No national system – research with each university – very popular - awarded for various things • Merit • Means tested • Sporting abilities • local students Sponsorship Charities • some charities and trusts offer financial help, but their eligibility rules vary. The Educational Grants Advisory Service (EGAS) provides information and advice on sources of funding through their Directory, helpline and website.

  20. Applying for funding Once the student has completed their UCAS from they register on line at: www.direct.gov.uk/studentfinance One application to assess eligibility for grants and loans • national insurance and passport (if they have one) number required Apply spring of entry year Linked to UCAS application and gives useful information about bursaries at chosen universities Deadline for completion - end of May to guarantee money available for start of term.

  21. Applying for funding Once student completed, you, ‘the sponsor’, will be sent details of how to log on to Student Finance Required to provide personal information about finances Your son/daughter does not see any of this – it is totally confidential Once completed send evidence of income to Student Finance England (usually P60) You may fill in a paper from if you don’t have access to a suitable (ie private) computer.

  22. Applying for funding Student registers in person at beginning of term: • University confirms to SFE that student has enrolled • Money transferred to student bank account via BACS • Money paid in 3 instalments

  23. Useful websites www.brighton.ac.uk/money www.direct.gov.uk/studentfinance bursarymap.direct.gov.uk www.moneysavingexpert.com

  24. Special Support Grant If you get or qualify for Income Support or Housing Benefit you may get the Special Support Grant instead of the Maintenance Grant. The amount you can get through the Special Support Grant is the same as that available through the Maintenance Grant but it won’t reduce how much you get for your Maintenance Loan. You are likely to qualify for the Special Support Grant if: • you’re a single parent • your partner is also a student • you have certain disabilities The Special Support Grant doesn’t count as income when working out if you’re entitled to income-related benefits or tax credits.

More Related