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 think 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

Tuition fees

• Universities and colleges 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

Living costs

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

Sources of Income: Government

Type of funding

Maintenance loan

Amount Repayable Non-repayable

Means tested

Non-means tested

Full value up to

£9,000Tuition fee loan

Up to£8,200

Sources of Income:

Type of funding Repayable Non-repayable

Means tested

Non-means tested

Fee waivers and bursaries

Scholarships for academic excellence

Scholarships for music and sport

Scholarships for specific schemes

University support

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 £1,000 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

*available for 2015/16 entry

Other support

• Disabled Students Allowance (DSA)

• Hardship Funds

• Dependence allowance

• Parental contribution

• Savings

• Part-time employment

• Charities and Trusts

Paying back your loan

• You do not pay until you are earning over £21,000

• If your earnings change, your repayments change

• You start repaying April after graduation

• Interest is variable and is a lot less than normal loans

• After 30 years, the balance of loan will be written off

How do I apply?

• Visit the student finance website (www.gov.uk/studentfinance)

• Complete the online application

• You will need to provide evidence of your household income

• The online process is normally open between:

• December - May

• Make sure you apply by the set deadline

• May 2015 for 2015/16 entry

Finding out more

Search online for…

• University of Exeter

• Student Finance Calculator 2015

• Student Loans Company

• Student Application Demo

• University scholarships

Any question?

Contact:

Tel: 01392 xxxxxx

Xxxxxx@exeter.ac.uk

www.exeter.ac.uk

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