Student Funding2012/13 entrants

Aim of presentation:

• What are the costs of going to university?

• What support is available to meet these costs?

• What you need to do to access the support?

Tuition Fees 2012/13

Cardiff University will be charging £9,000 pa for all Undergraduate courses from

September 2012

Will students have to pay the fees up front?

Students will not have to pay Tuition Fees up-front while they study

• Tuition fee loans are available to all eligible students

• Covers whole of the tuition fee

• Not income assessed

• Paid directly to the university

• Student repays after they have graduated

The New Tuition Fee Grant

• Welsh domicile

• Liable for the first £3,465

• Fees over £3,465 (£5535) will be covered by the Welsh Government

• Can study anywhere in the UK

• Not means tested

• Not repayable

Financial support to help students with their living costs

• Assembly Learning Grant (Wales)

Maintenance Grant (England)

• Maintenance Loan (both)

• Income assessed

• Tax year 2010/11

• 3 instalments over the academic year

Figures for 2012 entrantswho normally live in Wales

Household Income

Assembly Learning Grant – Max grant £5000

Maintenance Loan – Max loan £4745*

Total each year

Up to £18,370 £5000 £1901 £6901

£25,000 £3242 £2800 £6042

£34,000 £1106 £4082 £5188

£50,778 £0 £4745 £4745

£56, 708+ £0 £3559 £3559* non means tested 75% of max

Figures for 2012 entrantswho normally live in England

Household Income

Maintenance Grant – Max grant £3250

Maintenance Loan – Max loan £5500*

Total Each year

Up to £25,000 £3250 £3875 £7124

£35,000 £1432 £4784 £6216

£45,000 £0 £5288 £5288

£62,500+ £0 £3575 £3575* non means tested 65% of max

Repayments

• Tuition fee & maintenance loan repaid together• Repayment is linked to earnings not how much

they have borrowed • RPI + up to 3% max • Repay 9% of income over £21,000 (Wales - £1500 written off maintenance loan debt at

repayment)

• The amount of monthly repayment will be the same no matter how much is borrowed

Income Minimum monthly repayments

Up to £21,000 Nil

£25,000 £30.00

£30,000 £67.50

£35,000 £105.00

£40,000 £142.50

Repayment Calculator

Should taking out a Student Loan affect credit rating and taking out a mortgage?

• Student Loans not commercial loans • Not noted on credit report so should not affect credit

rating.

• Unlikely to affect ability to get a mortgage • Mortgage Calculations should relate to disposable

income

• New system graduates have higher disposable income than current system

Additional fundingNon Income assessed -

Disabled Students’ Allowances to help with extra costs of studying related to disability or dyslexia

Income assessed -

Allowances if you have childrenChild Care AllowanceAdult Dependent’s Grant

Awards are in the form of a grant & do not have to be re-paid

Students have to apply for funding each year of their course

English domicile Welsh domicile

PN1 Form PN1 Form

Download form or apply on line Download form or apply on line

www.direct.gov.uk/studentfinance www.studentfinancewales.co.uk

Applications open – deadline for new students 31 May 2012.

Applications available 21st March – deadline new students

4th May 2012

Cardiff University Bursaries

– Means tested support if household income is lower than £42,600

– Household income under £30,000 top statutory support* up to £7,500

– Household income between £30,001 to £42,600 top statutory support* up to £6,750

– Assessed with statutory funding so no need to apply separately

*based on student funding for non-final yr student living away from home

Bursary Example

Based on the household income of a Welsh domiciled student at £29,990

Loan payment:     £2,033Grant payment:     £3,526Total payment:    £5,559

Cardiff University Bursary = 

£7,500 - £5,559 = £1,941

Additional Grants• Communities First Award

– Students from a Communities First Area and household income under £42,600

– Either £1000 discount in residence fees or £500 travel grant

• Care Leaver Bursary– £1000 in 1st yr, £750 in subsequent yrs and £500 in

final term• Step Up Bursary– Household income under £42, 600 and already part of University programme

Scholarships

• £3,000 for students who achieve grades AAA at A-level (or alternative qualification equivalent) and satisfy all aspects of their offer.

• must have accepted the offer of a place to study from Cardiff on a firm basis by 31st July 2012

• Archaeology, Biosciences (Ecology, Genetics, Microbiology, Molecular Biology, Zoology) Chemistry, Computer Science, Earth and Ocean Sciences, Engineering (Integrated Engineering, Electronic & Communications Engineering, Electrical & Electronic Engineering, Computer Systems Engineering, Medical Engineering) German, Italian, Physics, Welsh.

Useful web addresses

www.direct.gov.uk/studentfinance

www.studentfinancewales.co.uk

www.delni.gov.uk/studentfinance

www.saas.gov.uk

Check for updates on student funding and apply online

Financial Capability

Money Doctors

“The Money Doctor’s initiative at Cardiff University is part of a national project aiming to improve students' financial capability”

Money Doctor’s Initiatives

• Cardiff University Student Support iApp

• Budgeting Sessions

• Taste Test

• Basket Challenge

• Energy Efficiency

• Recycle Christmas

• Swap shop

Where will my money go?

£5

• Hall–SC en-suite £75• Food £30• Toiletries/laundry £6• Books/course £10• Travel (inc. travel home) £8• Phone, T.V, Insurance £10• Social/leisure £28• Clothes £10

• Total £177 p/w

£182Weekly amount of Loan and Grant for Living Costs

Total left over per week:

Maximising income

Part time work

Choosing the right bank account

Rail cards

BOGOF offers

Student discount in shops,

cinemas & pubs

Buy Second hand books

Keep updated

www.cf.ac.uk

Current students

↓Student support

Contact us

50 Park Place, Cathays Park Campus

029 2087 4844

2nd Floor, Cardigan House, Heath Park Campus

029 2074 2070

studentsupportcentre@cardiff.ac.uk

www.cardiff.ac.uk/studentsupport