STUDENT FINANCE

Georgie SmithSchools and Colleges Liaison

MAIN TOPICS

What are the costs?

How will students pay for it?

What are the repayments?

WHAT ARE THE COSTS?

Two main costs:

Tuition Fees

Living Costs

TUITION FEES

£6,000 - £9,000 per year - 2013 entry(Check individual universities and courses for details)

Oxford Brookes University

£9,000 per yearUndergraduate degrees taught at Oxford Brookes

FOUNDATION DEGREES

Foundation degree costs may differ to onsite degrees

Oxford Brookes University

£6,000 per year / £7,000 per year for top up year(Foundation/Bachelor degrees taught in

Further Education Colleges)

LIVING COSTS

HOW WILL STUDENTS PAY FOR IT ALL?

LOANS NON-REPAYABLESOURCES

Tuition fee loan

Maintenance loan

Maintenance Grant

Bursaries

Scholarships

TUITION FEE LOAN

£6,000 - £9,000 per year - 2013 entry

Tuition fee available to all

Fees are paid directly to the

university

MAXIMUM MAINTENANCE LOAN ALLOWANCE

Students living at home with parents

Up to £4,375

Students living away from home(Outside of London)

Up to £5,500

Students living away from home(Studying in London)

Up to £7,675

HOW DO THE LOANS WORK?

Loans combined into one amountRepayments start:

• April after the course finishes

• Student earning at least £21,000 per year

Inland Revenue

Interest Rates

Loan wiped after 30 years

REPAYMENTS

Repay tuition fee and maintenance loan at:

9% of income over £21,000

Salary Repayment

Up to £21,000 No repayment

£25,000 £30 per month

£30,000 £68 per month

£40,000 £143 per month

PAYSLIP    

       

Name Mr. A. Non Pay Date 28th April

NI number NI12345A Tax Code AB12

       

Earnings Deductions

Salary £2,083.33 Tax £292.08

    National Insurance £177.72

    Student Loan £30.00       

Total Pay £2,083.33 Total Reductions £499.80

Net Pay £1,583.53

HOW WILL STUDENTS PAY FOR IT ALL?

LOANS Non-RepayableSources

Tuition fee loan

Maintenance loan

Maintenance Grant

Bursaries

Scholarships

MAINTENANCE GRANT

Payment up to £3,354 per year(means-tested – not all are eligible)

Household Income Grant allowance

Up to £25,000 Full Grant

£25,000 - £42,600 Partial Grant

£42,600 + No grant

Household Income

Maintenance Loan

Maintenance Grant

Total Available

£25,000 or less £3,823 £3,354 £7,177

£30,000 £4,292 £2,416 £6,708

£35,000 £4,761 £1,478 £6,239

£40,000 £5,230 £540 £5,525

£42,600 £5,475 £50 (min) £5,525

£42,875 £5,500 (max) £0 £5,500

£45,000 £5,288 £0 £5,288

£50,000 £4,788 £0 £4,788

£55,000 £4,288 £0 £4,288

£60,000 £3,788 £0 £3,788

Over £62,125 £3,575 £0 £3,575

APPLYING FOR STUDENT FINANCE

1

2

3

Fill in and send application online:www.direct.gov.uk/studentfinance

Application assessed

Financial Notification letter sent

BURSARIES AND SCHOLARSHIPS

National Scholarship Programme

Free foundation

year

Hallsdiscount

Fee waivers

Cash bursaries

University specific financial packages

Check university websites for details

BURSARIES AND SCHOLARSHIPS

Oxford Brookes Bursary Up to £2,000

Fee Waiver Up to £2,500

Community Scholarship £1,000 (1st year only) (for Oxfordshire state schools and colleges only) Transition from Care Bursary Up to £2,000

NHS AND SOCIAL CARE COURSES

Tuition paid in full (Nursing, Midwifery, Occupational Therapy, Operating Department Practice and Physiotherapy)

Grant and Loan (non-means tested)

Bursary (means tested)

Social Care

Bursary being reformed for 2013. Consultation will take place in the new year.

OTHER HELP

Access to Learning Fund(One off-payment)

Disabled Student Allowance

www.direct.gov.uk/studentfinance

Processed by Student Finance England

Student Services can help

Support available for dyslexic students

USEFUL WEBSITES

FINANCE:www.direct.gov.uk/studentfinance

www.brookes.ac.uk/studying/finance

www.nhsbsa.nhs.uk/students(NHS and Social Care courses)

BROOKES: www.brookes.ac.uk