£

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Student Financial Support for2012 higher education entrants

Finding out about funding your time

at university

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2) You receive grant and loan payments…

Student finance: how much do YOU know? (Quiz)

3) If you work part-time work during your course…

1) You apply for student finance…

a) Every termb) Only in your first yearc) For each year of your course

a) It will make no difference to your supportb) It will reduce what you’re entitled toc) It will mean you can’t get any support

a) As a lump sum at the start of each yearb) In termly instalmentsc) Every week

a) Every termb) Only in your first yearc) For each year of your course

a) As a lump sum at the start of each yearb) In termly instalmentsc) Every week

a) It will make no difference to your supportb) It will reduce what you’re entitled toc) It will mean you can’t get any support

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What student finance is available?

• Tuition Fee Loan;

• Maintenance Loan;

• Maintenance Grant;

• University or College Bursary / Scholarship;

• Extra support if you have special circumstances.

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Tuition Fee Loan

To help with the cost of tuition fees to a maximum of £9,000:

• Available to all eligible students;

• Not based on household income;

• Paid by Student Finance England direct to university or

college in 3 chunks

• Repayable when you finish your course, and you must

• Apply every year.

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Maintenance Loan

To help with living costs - entitlement depends on:

• Household income (65% not dependent on household

income, 35% dependent on household income);

• Max £5500/£4375

• Paid to student in 3 instalments

• Amount you get dependant on;

Where you live while you are studying, Year of course, household income

• Repayable when you finish or leave your course

• Apply every year.

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Maintenance Grant

To assist students from lower & middle income backgrounds:

• Non-repayable;

• Amount depends on your household income;(below

£42,600)

• Will reduce the amount of Maintenance Loan you can get;

• Maximum £3,250;

• Apply every year.

• Paid to student in 3 instalments

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What is a Special Support Grant?

• Paid instead of Maintenance Grant for some students

• Non-repayable• Depends on household income• Does not reduce amount of Maintenance Loan• Does not count as income for Means tested benefits

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How much Maintenance Loan can you get?

All eligible students can apply for this

Depending on household income you could also get up to

Max. Loan

Living in parents home

£2,843 £1,532 £4,375

Studying outside of London and not living with parents

£3,575 £1,925 £5,500

Studying in London and not living with parents

£4,988 £2,687 £7,675

Living and studying abroad for at least one academic term

£4,247 £2,288 £6,535

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Extra support

Extra support is available for students in special

Circumstances• Students with a disability or with dependants• Childcare grant (85% of costs)• Adult dependants (£2,642)• Parents’ Learning Allowance (!, 508)• Disabled Students Allowance (£ and equipment)• Social Work Bursary (£4,575)• University Bursaries (Compact agreements)• Access to learning funds.

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Do I qualify?

• Dependant/Independent – Aged 24+, Able to show self sufficient for 3+ years

• Full time/Part time – Tuition fee loan up to £6, 750, not dependant on household income, Must be studying at least 25% of equivalent course.

• Your course must be eligible

• Your university or college must also be eligible.

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University or College Bursary / Scholarship

• Paid by the institution, not Student Finance England

• Bursaries and scholarships vary considerably

• National Scholarships available for students with household income below £25,000. Scholarships are different at each institution but can include

• Reduction in fees or fee waiver• Cash award (up to £1,000)• Other benefits, e.g. discounted accommodation• Key part of your research:

check university and college websites

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Bursaries (excl. Social Work students)

National Scholarship Programme

- For priority groups with incomes below £20,000

£6,000 - payable over length of course (fee waivers)

Compact Bursary for students from Compact Schools/Colleges in receipt of the full M/Grant of £3250

£1,000 per year (fee waiver)

UoG Fee Waiver for first year students living away from home and in receipt of the full M/Grant of £3250

£1,000 year 1 (fee waiver)

UoG Scholarship for students whose household income is less than £42,875 and who can demonstrate academic potential

£1,000 (fee waiver)

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• Certain courses attract their own funding, for example NHS

and Social Work courses.• Non Medical: Eg. Physiotherapy, Nursing & Midwifery -

Eligible students will NOT be required to pay tuition fees

• Eligible for a £1,000 grant, means tested bursary up to

£4,395 and non means tested maintenance loan of up to

£2,324

• Extra help for students in special circumstances, for example

students with a disability or who have children; Tuition Fee Loans

for part-time courses.

Other Support

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http://www.direct.gov.uk/studentfinance

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Click on links for full details about what is available

http://www.direct.gov.uk/studentfinance

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Now click on link to Bursaries, scholarships and awards

http://www.direct.gov.uk/studentfinance

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Scroll down for section on National Scholarship

Programme (NSP)

Click List of universities and colleges offering NSP

http://www.direct.gov.uk/studentfinance

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Link takes you to list of links to individual university and college student finance pages

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Student finance: tasks

Visit www.direct.gov.uk/studentfinance

Read the section on Student finance for 2012/13

Then, for each of your UCAS choices, find the university or college

webpage(s) giving information about finance, bursaries & scholarships

Find out the following for all your UCAS choices:

- tuition fees charged for the course

- details about scholarships and bursaries

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More on www.direct.gov.uk/studentfinance

Repayment

How to Apply

How to Get Paid

Timescales

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Student finance: tasks related to this session

Visit www.direct.gov.uk/studentfinance

Read the section on Student finance for 2012/13

Then, for each of your UCAS choices, find the university or college

webpage(s) giving information about finance, bursaries & scholarships

For the next session find out the following for all your UCAS choices:

- tuition fees charged for the course

- details about scholarships and bursaries

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Student finance: tasks for this session

Do you have any questions about the student finance package?

How did you find the www.direct.gov.uk site?

How did you find the university and college sites?

How much support do you expect to receive?

What financial differences were there between courses?

Will these affect your choice of course?

What about repayment?

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a) £15,000b) £18,000c) £21,000

a) From the day you take them out ?b) From the day you graduate ?c) From the day you start work once you’ve got a job ?

a) The size of your debt ?b) How much you earn in your job ?c) Your credit rating ?

a) From the day you take them out ?b) From the day you graduate ?c) From the day you start work once you’ve got a job ?

a) The size of your debt ?b) How much you earn in your job ?c) Your credit rating ?

1) Are repayments based on

Repayments: how much do YOU know? (Quiz)

3) How much do you have to earn before you start repaying?

2) Is interest added to student loans

a) £15,000b) £18,000c) £21,000

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Repayment facts

• Interest is charged from when loans are taken out until

they are repaid in full;

• Repayment begins the April after you finish or leave

your course (as long as earnings are above £1,750 a

month or £21,000 a year);

• Repaid through tax system;

• Any outstanding balance written off by government

after 30 years.

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Loan Repayment

Income each year before tax

Monthly salary before tax

Approximate monthly repayment

Up to £21,000 Below £1,750 £0

£24,000 £2000 £23

£27,000 £2,250 £45

£30,000 £2,500 £68

£33,000 £2,750 £90

£36,000 £3,000 £113

£40,000 £3,333 £143

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Click on link Paying back your student loan 2012/13

http://www.direct.gov.uk/studentfinance

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http://www.direct.gov.uk/studentfinance

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Applying for Student Finance: Top Tips

• Apply as early as possible – you don’t have to have a

confirmed place;

• It’s quickest and easiest to apply online; you can also track

your application and change details like course, bank

account number etc. online;

• Before submitting an application, check all information and

evidence thoroughly to avoid subsequent delays.

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How do I apply?

• Gross household income 10/11

• - £1200 per dependant in FT education = Residual income

• Re Assessment if household income has dropped by 15%

• Evidence from Tax year 10/11

• Valid UK passport /Original Birth Certificate with signed declaration form

• Original overseas Passport with signed declaration

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How to apply & get paid... Part One [IN 2012]

Go to SFE website, select “Register and apply

for student finance” then complete application

Complete declaration form

Submit all info and evidence requested

SFE assesses application;

Requests any missing info or evidence

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payments to student & university

SFE approves application;

Sends Notification letter to student

Take Notification letter to university

when you register on your course

How to apply & get paid... Part Two [IN 2012]

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Student finance timescales for Year 13s in 2011/12

Autumn Term

Use www.direct.gov.uk and university & college sites to research financial support & repayment

Spring Term

Apply for student finance – Now; you should receive notification letter within 6 to 8 weeks

Summer Term

Application deadline – 31st May 2012

Higher Education – Term 1

Register at university, receive student finance

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• Use the direct.gov website and university & college websites to help you make informed choices

• Apply as early as possible – well before 31st May deadline

• Apply online & use online functions post-application

• Check your application and evidence really carefully

• Take your Notification letter when you register

Student finance – Key Messages

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– www.wiltshire.ac.uk/support_services

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Money pages

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My Career Online

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Customer Support line 0845 300 5090