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Financing Higher Education
Aims and objectives
By the end of this session you will have;
• An understanding of why it is important that you begin to
thinking about student finance
• An overview of the main costs associated to university life
• An overview of the support available
• An overview as to how to apply for Student Finance and
how to pay it back
• www.exeter.ac.uk
Tuition Fees
• Universities and college can charge
between £6,000 and £9,000 per year
• The majority charge the full fees of £9,000
• You do not need to pay upfront
• www.exeter.ac.uk
Living costs
• www.exeter.ac.uk
Reason for spend Amount
Accommodation (catered) £5,760
Books and equipment £300
Food – lunches, coffees etc. £640
Clubs and societies £270
Clothing £270
TV licence £145
Travel home £150
Toiletries and haircuts £150
Telephone £270
Social life £1,120
House deposit for next year £370
Total £9,445
Available finance
• Tuition fee loan
• Living cost support
• Maintenance Loan
• Maintenance Grant
• Institutional support
• Other support
• www.exeter.ac.uk
Sources of income
• www.exeter.ac.uk
Type of funding
Maintenance grant
Maintenance loan
Maintenance loan
£3,387 (max)
Amount RepayableNon-
repayableMeans tested
Non-means tested
Full value up to
£9,000Tuition fee loan
£3,610to
£5,555
Support for living costs
• www.exeter.ac.uk
Household Income
Maintenance grant
Maintenance loan Total
£25,000 or less £3,387 £3,862 £7,249£30,000 £2,441 £4,335 £6,776£35,000 £1,494 £4,808 £6,302£40,000 £547 £5,282 £5,829£50,000 £0 £4,836 £4,836£60,000 £0 £3,826 £3,826£62,500 £0 £3,610 £3,610
Sources of income:
• www.exeter.ac.uk
Type of funding Repayable Non-repayable
Means tested
Non-means tested
Fee waivers and bursaries (Including National Scholarship
Programmes)
Scholarships for academic excellence
Scholarships for music and sport
Scholarships for specific schemes
University support
• www.exeter.ac.uk
Support Household income Bursary amount
Access to Exeter bursaries <£16,000 £2,000 for year 1 £1,500 for subsequent years
£16,001 - £25,000 £1000 for year 1 £1000 for subsequent years
Care leavers will receive a full fee waiver for all years of study and support for additional accommodation costs
Other support
• Disabled Students Allowance (DSA)
• Access to Learning Fund
• Dependence allowance
• Parental contribution
• Part-time employment
• www.exeter.ac.uk
Paying back your loan
• You do not pay until you are earning over £21,000
• If your earnings change, your repayments change
• You start replaying April after graduation
• Interest is variable and is a lot less than normal loans
• After 30 year, your remaining loan will be written off
• www.exeter.ac.uk
Paying back your loans
• www.exeter.ac.uk
Annual Salary TOTAL MONTHLY REPAYMENT
<£21,000 £0.00£25,000 £30.00£30,000 £67.50£25,000 £105.00£40,000 £142.50£50,000 £217.50£60,000 £292.50
How do I apply?
• Visit the student finance website
• Complete the online application
• You will need to provide evidence of your
household income
• You can apply in early spring of the year of
entry
• Make sure you apply by the set deadline
• www.exeter.ac.uk
Finding out more
Search online for…
• University of Exeter
• Student Finance Calculator 2014
• Student Loans Company
• Student Application Demo
• University scholarships
• www.exeter.ac.uk
www.exeter.ac.uk01392 [email protected]