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
