Student Funding2013/14 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

Cardiff University will be charging

£9,000 pa for all Undergraduate

courses from September 2012

Tuition Fees for 2013/14 are to be confirmed

• Tuition fee loans are available to all eligible students

• Covers whole of the tuition fee

• Not dependant on household income

• Paid directly to the university

• Student repays after they have graduated

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

they study

The New Tuition Fee Grant 2012/13

For those students resident in Wales before thestart of their course:

• Tuition Fees in 2012/13 are £9000 • Tuition Fee Loan available up to £3465• New Tuition Fee Grant to cover remaining fees of £5535• Paid by the Welsh Government• These students can study anywhere in the UK and

receive the tuition fee grant• Does not depend on household income• Is non-repayable as it is a grant

Keep checking www.studentfinancewales.co.uk for information about funding for students starting in 2013/14.

Financial support to help students with their living costs

Types of funding:

• Amount available depends on household income• Assessed on tax year 2011/12 for 13-14 entrants• Paid to the student in 3 instalments during the

academic year

Normally resident in

Wales before

start of the course

Normally Resident in

England before

start of the course

Maintenance Loan Maintenance Loan

Assembly Learning Grant Maintenance Grant

Students who normally live in Wales (12-13 figures – check www.studentfinancewales.co.uk for updates soon. The figures may increase slightly with the rate of inflation)

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

Students who normally live in England(13-14 figs subject to parliamentary approval)

Household Income

Maintenance Grant – Max grant £3250

Maintenance Loan – Max loan £5500*

Total Each year

Up to £25,000 £3354 £3823 £7177

£35,000 £1478 £4761 £6239

£42,875 £0 £5500 £5288

£45,000 £0 £5288 £5288

£62,125+ £0 £3575 £3575* non income tested 65% of max.

Repayments

• Tuition Fee Loan & Maintenance Loan are added together for total amount of student to be repaid

• Interest rate is RPI + up to 3% max • Repayment depends on level of earnings, not the

amount borrowed• Repay 9% of income over £21,000

• Wales - £1500 written off maintenance loan debt at repayment

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

COMMON QUESTION: Does taking out a Student Loan affect credit rating

and applying for a mortgage?• Student Loans are 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’ Allowance (DSA) 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 repaid

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 normally open January.

Check nearer the time

Applications normally

open March.

Check nearer the time

Cardiff University Bursaries – 2012/13

• Depends on household income• Must be eligible for UK statutory funding• Assessed with statutory funding application, so no need to apply

separately.

For more information, please see:

http://www.cardiff.ac.uk/for/prospective/ug/scholarships

*Based on student funding for non-final yr student, living away from home. Please note

these figures are bursaries on offer for 12-13 entrants. Please check the web

from summer 2013 onwards for details for 13-14 entrants

Household Income Cardiff University Bursary

Under £30,000 Top up statutory support* to £7500

£30,001 - £42,600 Top up statutory support* to £6750

Bursary ExampleBased on the household income of a Welsh

domiciled student at £29,990:Eligible for Maintenance Loan of:     £2,033Eligible for Assembly Learning Grant of:   £3,526Total statutory funding for year :    £5,559

As household income is under £30,000, the Cardiff University bursary

will top up statutory funding to £7500.

£7,500 - £5,559

= £1,941 Cardiff University Bursary

Additional Cardiff University Grants 2012/13*

Communities First Award• Students from a Communities First Area (Wales), household income under

£42,600, will receive either £1000 discount in University residence fees or £500 travel grant.

• There is a post code checker at www.artswales.org.uk/postcode-lookup-tool or contact communities.first@wales.gsi.gov.uk

Care Leaver Bursary• £1000 in 1st year, £750 in subsequent years and £500 in final term.• If declare on UCAS application that you have been in care, the university

mentor will contact you. Otherwise, please contact Einir Evans in the Student Support Centre.

Next Step Bursary • £1000 in 1st yr if household income is under £42, 600 and already part of the University Step Up Programme

*please check www.cardiff.ac.uk/for/prospective/ug/ for 13-14 updateslater

Scholarships - 2012/13

• £3,000 over whole course – gain AAA at A-level (or equivalent) and satisfy all aspects of their offer.

• Must accept offer from Cardiff on firm basis by end July before start of course.

• Don’t need to formally apply as will automatically be considered for a scholarship once A level results are released

Scholarships - 2012/13* Current courses with scholarship: Archaeology

Biosciences (Ecology, Genetics, Microbiology, Molecular Biology, Zoology) ChemistryComputer ScienceEarth and Ocean SciencesEngineering (Integrated Engineering, Electronic & Communications Engineering, Electrical & Electronic Engineering, Computer Systems Engineering, Medical Engineering) GermanItalianPhysicsWelsh

*For more information and updates please check: www.cardiff.ac.uk/for/prospective/ug/scholarships/

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

Initiative with the aim to improve students financial capability

• Cardiff University Student Support iApp

• Budgeting Sessions

• Taste Test

• Basket Challenge

• Energy Efficiency

• Recycle Christmas

• Swap shop

Where will my money go?

Accommodation Fees

Food

Socialising

Books & Photocopying

Clothing

Travel

BudgetWeekly costs

• Halls (incl bills) £87• Food £33• Toiletries/laundry £5• Books/copying £8.75• Travel (inc. travel home) £9• Phone, T.V, Insurance £8.50• Social/leisure £30• Clothes £7.50 Total £188.75

Maximising income

Part time work

Choosing the right bank

account, eg, for their overdraft facilities

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