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NHS Student Finance for full time undergraduates starting in September 2012 Student Services. What we will discuss. Bursary explained Types of bursary Support for BSc Degree level students Basic bursary Student loan Additional grants Additional support Practice placement expenses - PowerPoint PPT Presentation
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NHS Student Finance
for full time undergraduates starting in September 2012
Student Services
What we will discuss
• Bursary explained• Types of bursary• Support for BSc Degree level students• Basic bursary• Student loan• Additional grants• Additional support• Practice placement expenses• How to apply
Bursary
• Funding for living costs• Paid monthly• None repayable• Not subject to Income Tax or
National Insurance• Eligibility criteria applies
Types of NHS bursary
• None income assessed grant
• Income assessed bursary• Dependant students• Independant students
Support for BSc Students
• None income assessed grant of £1,000
• Maximum income assessed bursary of £4,395 for a 45 week or more course
• Based on household income• Number of weeks of course• And where you live (with parents or not)
Support for BSc Students
Length of academic year
Non-means tested grant
Income assessed bursary.
Students living away from home
Income assessed bursary.
Students living in parental home
30 Weeks £1,000 £2,591 £2,163
Over 45 Weeks £1,000 £4,395 £3,351
The actual amount of bursary is dependent on your household income
Student Loans
• Reduced rate student loan available• Amount available depends on where you are
living• Not means tested• Repayable once graduated and earning more
than £21,000• Interest on loan of 3% plus inflation
Student living elsewhere Student living at home
£2,324 £1,744
Additional Grants• Parents’ Learning Allowance
• Up to £1,303
• Dependants allowance • Up to £2,640 for first child or adult dependant• Up to £539 for additional dependant children
• Childcare Grant• Up to 85% of the cost of registered childcare• Maximum of £126.65 per week for one child or
£187.75 per week for two or more children
Additional Support
• Council Tax exemption
• Additional bursaries for Foyer residents or care leavers
• Disabled Students Allowance• Specialist equipment – up to £5,161 for course• Non medical helper – up to £20,520 per year• Other medical related expenses – up to £1,724
Practical Placement Expenses
You can claim costs within the UK for travel to and from your placement site involving;
• Public transport• Essential use of your own motor vehicle• Use of your own bicycle• Car parking, tolls and ferries
Claim costs must be in excess of your normal daily travel costs from your term time residence to your University
Repayment terms on loan• Loans are repayable from the April after graduation
and earnings are above £21,000. • From the April after you leave university if you are
earning below £21,000, interest will reduce to just the rate of inflation
• Graduates earning between £21,000 and £41,000 will be charged interest at the full rate of inflation plus interest on a sliding scale up to 3 per cent.
• Graduates earning above £41,000, will be charged interest at the full rate of inflation plus 3 per cent.
Repayment examples
How to apply
• Explore all funding you are eligible for• Apply in plenty of time• Application forms – NHS Grants Unit• Forms can also be downloaded from
www.nhsbsa.nhs.uk/students, or telephone 0845 358 6655
• For Student loan apply at; www.direct.gov.uk/studentfinance
• Think about part time work
Telephone:0121 331 5588
Email: [email protected]
Web: www.bcu.ac.uk/studentserviceswww.facebook.com/bcussvwww.twitter.com/bbcussv
We have dedicated staff whocan help you with:
• Budgeting• Money Management• Debt Counselling• Alternative sources of
funding• Access to Learning Fund
Student Services