STUDENT FINANCE 2016/17A PRACTITIONER’S INTRODUCTION

SESSION CONTENTS

• The student finance package

• Part-time package

• Additional support

• NHS courses

• Student loan repayment

• Application information

• Resources

THE STUDENT FINANCE PACKAGE 2016/17

THE STUDENT FINANCE PACKAGESUPPORT AVAILABLE TO STUDENTS INCLUDES:

Bursaries & scholarships

Tuition fee support

Maintenance (living cost) support

Additional support

The

Student Finance

Package

Figures in this section may change, subject to 2016/17 policy approval.

THE STUDENT FINANCE PACKAGE 2016/17MAINTENANCE SUPPORT

TUITION FEESOVERVIEWTUITION FEESOVERVIEW

• Currently capped at £9,000 per year.

• The tuition fee will be decided by the university or college including if it charges different amounts for different courses.

• The average tuition fee for new students in 2015 was about £8,703.

• Students at private universities or colleges offering designated courses will be able to borrow up to £6,000* towards tuition costs.

*Students will have to self-fund any additional fee charged.

TUITION FEESTUITION FEE SUPPORT

Tuition Fee Loan• a non means-tested fee loan of up to £3,900

Tuition Fee Grant• non means-tested Tuition Fee Grant to cover the difference between the

maximum Tuition Fee Loan available and the tuition fee actually charged by the university or college

• a maximum grant of £5,100 is available if a tuition fee of £9,000 is charged – non repayable

• grant and loan paid directly to university or college

For eligible Welsh students attending a full-time course at a publicly-funded UK university.

THE STUDENT FINANCE PACKAGE 2016/17MAINTENANCE SUPPORT

MAINTENANCE SUPPORTMAINTENANCE LOAN

• The majority of the repayable Maintenance Loan will be available to all eligible students. 75% of the total loan is non means tested (not based on household income).

• The amount of Maintenance Loan available will be linked to where a student lives and studies while in higher education.

MAINTENANCE SUPPORTMAINTENANCE LOAN 2016/17 MAXIMUM RATES

Full-year student (*) 75% non means tested

25% means tested

Maximum loan

Parental home £3,590 £1,196 £4,786

Elsewhere £4,637 £1,546 £6,183

London £6,497 £2,165 £8,662

Overseas £5,529 £1,843 £7,372

(*) Slightly lower rates of support apply to final year students.!

An additional means-tested loan is available for each extra weekof study for students attending their course beyond 30 weeks.!

MAINTENANCE SUPPORTWELSH GOVERNMENT LEARNING GRANT

• Non-repayable grant for 2016/17 is up to £5,161 (max).

• 100% means tested.

• Students from households with income of up to £18,370 will be entitled to the maximum £5,161

• Students from households with incomes of up to £50,020 will be entitled to a partial grant.

MAINTENANCE SUPPORTCOMBINED SUPPORT:

Household income £ Welsh Gov Learning Grant Maintenance Loan Total

£18,370 & under £5,161 £3,603 £8,764

£20,000 £4,715 £3,826 £8,541

£25,000 £3,347 £4,510 £7,857

£26,500 £2,936 £4,715 £7,651

£30,000 £2,099 £5,134 £7,233

£34,000 £1,142 £5,612 £6,754

£40,000 £734 £5,816 £6,550

£45,000 £393 £5,987 £6,380

£50,020 £50 £6,158 £6,208

£50,753 £0 £6,183 £6,183

£58,484 (+) £0 £4,637 (+) £4,637

Students living away from home, outside London 2016/17

MAINTENANCE SUPPORTFEE SUPPORT FOR OTHER COURSES

Course type(*)

Max Tuition Fee Loan

entitlement(publicly-funded uni or college)

Max Tuition Fee Grant

entitlement(publicly-funded uni

or college)

Max Tuition Fee Loan entitlement

(privately funded uni or college)

Max Maintenance

Loan

Sandwich Placement Year £1,800 £900 £1,200

Reduced Loan Sandwich Year

ERASMUS+ Scheme £1,350 £675 £900 Overseas Rate

Overseas Placement £1,350 £675 £900 Overseas Rate

ADDITIONAL SUPPORT

ADDITIONAL SUPPORTOVERVIEW

Extra money or support may be available to students if they:

• have children or adults dependent on them

• have a disability, including a mental-health condition or specific learning difficulty

ADDITIONAL SUPPORTDISABLED STUDENTS’ ALLOWANCES (DSAs)

• Help towards the additional costs that a student may face as a result of their disability, including a mental-health condition or specific learning difficulty.

DSAs support:

• is available in addition to the standard student finance package

• Doesn’t have to be repaid

• is not affected by household income

• looks at the specific needs of the individual in relation to their disability and how it affects their studies

ADDITIONAL SUPPORTDISABLED STUDENTS’ ALLOWANCES (DSA)

AllowancePart-time maximum support

Full-time maximum Support

Frequency of payment

Non-medical personal helper £15,885 £21,181 Annual

Specialist equipment £5,332 £5,332Duration of

course

Other disability-related expenditure £1,338 £1,785 Annual

Disability-related travelNo limit – reasonable spending can be

claimed

DSA rates 2016/17

THE STUDENT FINANCE PACKAGESTUDENTS WITH DEPENDANTS’Childcare Grant

Based on 85% of actual registered/approved childcare costs up to maximum of:

£161.50 per week for one child£274.55 per week for two or more children

If no childcare provider details are provided a maximum cap of £115 p/w will apply to the

first installment.

Parents’ Learning Allowance

Help with course-related costs for students with dependent children.

Amount received will be between £50 and £1,557.

Adult Dependants’ Grant

For students with a partner or another adult who is financially dependent

on them (cannot be an adult child). Maximum grant is £2,732.

! Dependants’ Grants are income related. Universities may offer additional support to students with childcare/caring responsibilities.

ADDITIONAL SUPPORTSCHOLARSHIPS AND BURSARIES

SCHOLARSHIPS AND BURSARIES

• Extra help for many students is available from universities.

• Each university has its own scheme – students need to research these.

• Students are more likely to get help if...- their family has a low income- they are the first person in their family to go to university- they study a particular subject (depending on university)- they get good grades at school/college- they study locally

!Students should check university websites and ask at open daysand UCAS conventions for information on bursaries and scholarships:

what is available and how/when to apply.

ADDITIONAL SUPPORT

PART-TIME SUPPORT

WELSH PART-TIME SUPPORT PACKAGE

• New eligible students who start a part-time course on or after 1 September 2014 at a publicly-funded university or college or on behalf of a publicly-funded university or college in Wales will be able to apply for a non-income assessed Tuition Fee Loan up to £2,625.

• New eligible students who start a part-time course on or after 1 September 2014 at a wholly private university or college will be able to apply for a non-income assessed Tuition Fee Loan up to £2,625 (the fee charged may exceed £2,625; in this case, the student must pay the difference.)

• New eligible Welsh domiciled students who start a part-time course on or after 1 September 2014 can apply for the existing income assessed part-time course grant, part-time dependants’ Grants (ADG, PLA and CCG and if the intensity is over 50%) and part-time DSAs only (if the intensity is over 25%).

• EU students are eligible for fee support only and are therefore not eligible to apply for part-time course grant, Dependants’ Grants or DSAs.

NHS COURSES

NHS COURSESFUNDING

Eligible courses

Students must be accepted for an NHS-funded place on a full or part-time course which leads to professional registration as a:

• doctor or dentist (they will be eligible for an NHS bursary after the fourth year of their course)

• chiropodist (including podiatrist), dietitian, occupational therapist, physiotherapist, radiographer, healthcare scientist, paramedic, speech and language therapist

• dental hygienist or dental therapist

• nurse or midwife

OTHER COURSESNHS COURSES

NHS support

• Students on eligible courses may be able to get a bursary from the NHS. A bursary is a yearly payment to help with living costs and tuition fees. It’s paid each month and doesn’t have to be paid back.

• More detailed information is available at http://www.nwsspstudentfinance.wales.nhs.uk/home

• Full-time students on NHS degrees can also apply for a fixed grant of £1,000 per year.

SFW support

• Full-time NHS students can also apply to Student Finance Wales for a reduced rate Maintenance Loan which is not dependent on income.

OTHER SUPPORTNHS COURSES

Non means-tested grant

Means tested bursary

Non means-tested loan

London £1,000 £3,191 £4,259

Elsewhere £1,000 £2, 643 £3,030

With Parents £1,000 £2,207 £2,272

Non means-tested grant

Means tested Bursary

Non means-tested Loan

London £1,000 £5,460 £4,259

Elsewhere £1,000 £4,395 £3.030

With Parents £1,000 £3,351 £2,272

NHS Degrees up to 45 weeks (15/16 figures)

NHS degrees up to 30 weeks (15/16 figures)

OTHER SUPPORTNHS COURSES

Fees• NHS pays non-medical course fees• Medicine and dentistry:

– Arrangements differ depending on year of study and pathway.– Tuition Fee Loan will be available.– NHS usually pays final year.

Additional support• Allowances for disabled students and students with dependent adults

and children are available from the NHS.

• Students can also claim help with travel costs to their placements, if they have additional costs to those incurred when travelling to their university.

STUDENT LOAN REPAYMENT

STUDENT LOAN REPAYMENT

STUDENT LOAN REPAYMENTOVERVIEW

• Repayment contributions will not be made until students have finished their course and their income is over £21,000 (£1,750 pm) gross.

• Full-time students will begin to repay in the April after graduating/leaving their course.

• Part-time students can begin to repay in the April four years after they have started their course. (If their income is over £21,000.)

• Repayments will be 9% of income over £21,000 and will be deducted automatically from pay through the HMRC tax system for most students.

• If income falls to £21,000 or below repayments will stop.

STUDENT LOAN REPAYMENTTHE FIGURES

Income each year before tax Income from which 9% will be deducted

Approximate monthly repayment

£21,000 £0 £0

£25,000 £4,000 £30

£30,000 £9,000 £67

£35,000 £14,000 £105

£40,000 £19,000 £142

£45,000 £24,000 £180

£50,000 £29,000 £217

£60,000 £39,000 £292

! Any outstanding loan balance will be cleared 30 years afterentering repayment.

STUDENT LOAN REPAYMENTINTEREST RATES

During study until

entering repayment

Interest rate is: Retail Price Index (RPI) plus3%

Earnings:

Below £21,000Interest rate is:

RPI Only

Earnings Between:

£21,000 - £41,000RPI plus up to 3%

Earnings:

Above £41,000Interest rate is:

Retail Price Index (RPI) plus 3%

There will be a variation in the interest rate attached to a student’s loan during study and when earning following graduation:

STUDENT LOAN REPAYMENTDEDICATED WEBSITE

STUDENT LOAN REPAYMENTPARTIAL CANCELLATION OF LOANS

• Eligibility will be automatic once the student starts repaying their student loan, either voluntarily or when they are required to do so.

• Partial cancellation of up to £1,500.

• If they have a Maintenance Loan of £300 and the amount of their first repayment is £10, they will receive a partial cancellation of £290.

• If they have a Maintenance Loan of £3,000 and the amount of their first repayment is £50, they will receive a partial cancellation of £1,500.

APPLICATION INFORMATION

APPLICATION INFORMATION

APPLICATION INFORMATIONKEY MESSAGES

• Apply online at www.studentfinancewales.co.uk as soon as possible once the application opens to make sure student finance is in place for the start of their course.

• Register on UCAS and we can let students know when it’s time to apply.

• They do not need a confirmed place at university or college to apply.

• Make a note of their account log-in details and keep them safe.

• Agree to share information from their application, this helps apply for many bursaries and some scholarships.

• Students will be assessed for non means-tested support if there areany delays in receiving household income information.

APPLICATION INFORMATIONCOMPLETING AN APPLICATION

Before starting an application, students should have the following to hand:

• passport - SFW can check identity using valid UK passport details • university and course details• bank account details and National Insurance number

If parents or other sponsors will be supporting a student’s application, theywill need their own account on studentfinancewales.co.uk to provide informationincluding:

• National Insurance number(s)• Household income information• Details of other child dependants

If sponsors can’t submit income details online, they can complete a paper form.

APPLICATION INFORMATIONSTUDENTFINANCEWALES.CO.UK

APPLICATION INFORMATIONNEW LOOK ‘MY ACCOUNT’

Making it easier to navigate and understand

APPLICATION INFORMATIONEVIDENCE AND HOUSEHOLD INCOME

STUDENT FINANCE APPLICATIONSIDENTITY EVIDENCESTUDENT FINANCE APPLICATIONSIDENTITY EVIDENCE

SFW require all students to provide identity evidence in order for theirapplication to progress. The following list details acceptable identification (ID)evidence:

UK students – identity evidenceStudents confirm identity by providing valid passport details in their online application.

If they haven't included passport details in their online application they will need to send one of the following:

• a completed UK Passport Details Form (if holding a valid passport)• original UK birth or adoption certificate along with a countersigned

Birth/Adoption Certificate Form (ADIF)

STUDENT FINANCE APPLICATIONSIDENTITY EVIDENCE – NON UK STUDENTS

SFW require one of the following documents to be sent as proof of identity:

• EU National Identity Card (must be in date) • original non-UK passport (must be in date) • Biometric Residence Permit cards

Non-UK students may also need to submit the following evidence:

• original Home Office documents – to prove refugee status or leave to enter or remain status

• photocopies of P60, Contract of Employment, Tax Returns or a P45 – to prove European Economic Area (EEA) or UK work details

• a letter confirming addresses for the last three years prior to the start of their course – to confirm residency details

SUPPORTING AN APPLICATIONHOUSEHOLD INCOMESUPPORTING AN APPLICATIONHOUSEHOLD INCOME

If supporting an application for means-tested student finance, SFW will need to see details of parents’, partner’s or other sponsor’s household (taxable earned and unearned) income and National Insurance number(s).

Earned income includes:• wages, salaries, tips, and other taxable employee pay• long-term disability benefits received prior to minimum retirement age• net earnings from self employment

Unearned income includes:• interest from savings (only the annual summary is required)• benefits and pensions• rent from property or a room

2016/17 RESOURCES

RESOURCES

• Guides

• Quick guides

• Short films

• Website

• Practitioner site

QUESTIONS?

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