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Student Finance 2012/2013

Student Finance 2012/2013. Contents. Full Time Higher Education - Eligibility Criteria - Financial Support Available - Exceptions Part Time Higher Education How to apply What happens next? Repayments Further Education Awards. Eligibility Criteria.

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Student Finance 2012/2013

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  1. Student Finance 2012/2013

  2. Contents • Full Time Higher Education - Eligibility Criteria - Financial Support Available - Exceptions • Part Time Higher Education • How to apply • What happens next? • Repayments • Further Education Awards

  3. Eligibility Criteria There are three main conditions you must meet: • Be personally eligible – have lived in the UK and Islands for at least 3 years before the start of your course and living in Northern Ireland on the first day of the academic year in which your course begins • Must attend an approved college – a University or College in the UK or ROI that is maintained out of public funds, CAFRE, certain private colleges • Must attend an approved course – degree, HNC, HND, Dip HE, Foundation degree

  4. Financial support available Tuition fee loan • All eligible students can take out a loanfor the amount charged by the institution (NI institutions £3465 per year, remainder of the UK max £9000 per year) • Amount charged depends on your country of residence, not on a passport • Fees paid direct to your institution by SLC • No income assessment involved • Pay back only when you are earning more than £15,795 per year

  5. Financial support available Maintenance Loan • Max £6,780 if living away from parents’ home and studying in London • Max £4,840 if living away from parents’home and studying outside London • Max £3,750 if living at home • Maintenance loan is means-tested The loan is reduced if you receive a Maintenance Grant or Special Support Grant

  6. Financial support available Maintenance Grant/Special Support Grant • Non-repayable grant for students from low income households (< £41,065) • Full grant where household income < £19,203 • Worth up to £3,475a year – depending on household income • SSG is available to students who are eligible for income support or housing benefit (benefits not reduced) • Not available for students studying in ROI

  7. Financial support available Studying in the ROI • No Tuition Fees. Flat rate charge of €2250 paid to institution for you by local SFni office. • If required to pay €2250 on enrolment day, ensure PN1 application is returned to local SFni office to enable this fee to be refunded by your institution. • Eligible for a means tested bursary of up to £2000 where income < £23,605 and maintenance loan. • Transfer or repeat students will be charged full tuition fees (not payable by SFni)

  8. Financial support available Extra Help with Living Expenses • Parents’ Learning Allowance • Childcare Grant • Adult Dependants’ Grant See Application form or contact Student Finance for further details

  9. Financial support available Disabled Students’ Allowance A range of help available which is not means tested on household income • Specialist equipment allowance of up to £5,266 for the whole course • Non-medical helpers’ allowance of up to £20,938 per year • General allowance of up to £1,759 per year • Extra travel costs as a result of the disability Contact the Disability Adviser at your institution for an assessment of what support you will require.

  10. Financial support available Help from your Institution Access Bursary – NI institutions • Extra (non-repayable) grant for students who are in receipt of full (or in some cases partial) Maintenance Grant or Special Support Grant • No separate application involved – eligibility determined through your Student Finance application • Each institution offers different amounts of support Similar support throughout the UK – contact institution for details.

  11. Assessment process Student Finance NI assesses householdincome based on: Your gross taxable income (excluding any earnings during institution term-time and holidays); PLUS Gross taxable income of parent(s) / partners / step-parents; LESS Deductions for payments into pensionfunds and £1,153 for each other dependentchild in the household This does not apply to Independent students

  12. Living cost support 2012/13

  13. Exceptions • Health Professional degrees in NI – income assessed bursary of £2355 (2011/12 rate), reduced loan of £2370 and Tuition fees paid in full • Health Professional degrees elsewhere in UK – reduced loan and NHS bursary • Nursing degrees / diplomas in NI, Scotland and Wales – not eligible for any funding from SFni • Nursing degrees in England – reduced loan and NHS bursary. Diplomas in England – no support • Social Work degrees in NI – additional funding from DHSSPS of non-means tested grant and contribution towards work based learning expenses

  14. Part-time HE Courses HE part time courses must be at least one year’s duration and at least 50% of a full time course. Support for eligible students will consist of: • A means tested Tuition fee grant of up to £1,230 • A means tested grant of up to £265 • Disabled Students’ Allowance

  15. How to apply • Paper application forms available from school or your local Student Finance NI office or download an application form at www.studentfinanceni.co.uk • Complete form fully and return to your local Student Finance NI office • Pay correct postage (1st class not sufficient) • Apply as soon as possible and check your application online • EU Students should apply to the EU Team in Darlington

  16. How to apply Information required You must provide the following information with your application form – • Original UK Birth certificate or valid Passport. A Birth certificate mustbe accompanied by an identity confirmation form • National Insurance Number • Your bank account details • Details of your income and that of your household

  17. What happens next? Application acknowledged and you receive Customer Reference Number (EMA students retain same number) ↓ SFni determines whether you are eligible for support and amount due ↓ SLC sends notification of how much support you will receive and when ↓ Take your notification to University at enrolment stage ↓ Your University confirms enrolment ↓ SLC pays your support each term by BACS

  18. What you must do Tell SFni of any change in your circumstances as this may affect your entitlement e.g. • Name / marital status • Address (home / lodging) • Transfer / Suspension / Withdrawal from course / college. • Absence • Drop in parents’ income

  19. Things you need to know • If you withdraw from your course during the year you may not be eligible for a Tuition fee loan, but some institutions may still charge you fees which you will have to pay • If you are on a placement / abroad as part of your course you may not receive any support other than a reduced loan (check first with SFni) • If you follow an HND/Dip HE course and move on to year 1 of a degree course you will not receive a Tuition fee loan or a maintenance grant for year 1 of the degree • If you change course/repeat a year more than once you may have to self-fund part of your course. • If you receive a grant and your entitlement is reassessed to a smaller grant/no grant at all – the SLC will demand repayment from you immediately • You must reapply each year to get support

  20. Repayments • You only repay Student Loans (Fees and maintenance) once you have left your course and are earning over £15,795 a year. • Repayments are based on what is earned, e.g. earnings at £25,000 pay back £69 a month • Current interest rate is 1.5% • You do not repay any grants received unless you withdraw from your course or a re-assessment is required

  21. How to contact us By telephone on: 0845 6000 662 By post or personal visit: Student Finance NI 3 Charlemont Place The Mall Armagh, BT61 9AX Visit our web site at: www.studentfinanceni.co.uk

  22. Further Education Awards • For certain lower level courses • Payment of approved Tuition fees • A grant (maximum £2092) Closing Dates: • Full time - 31 August 2012 • Part time - 28 September 2012 • Guaranteed funding where fully completed applications are received by 30 June. Apply to: Student Finance NI Further Education Awards Section 1 Hospital Road Omagh Telephone: 028 8225 4546 Email: feawards@welbni.org

  23. Further Guidance Student Finance NI has endeavoured to detail every aspect of the application process and possible funding available to students entering Further/ Higher Education. If you have any questions that are not covered in this presentation please read the ‘Guide to Financial support booklet’, check out the web-site or contact the Customer Services Office on 0845 6000 662 for further assistance.

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