Student funding
Same arrangements
for courses included
within HEFCE & DfE
contracts
Tuition fees payable
Tuition fee and
maintenance loans
available from Student
Loans Company
Includes Medicine and
Social Work, but NHS
also provide funding
NHS funded courses
have different
arrangements
Higher Education funding
• Tuition fees of up to £9,000 per year
• Tuition fees do not have to be paid up front whilst studying, full or part-time
• Tuition fees and maintenance loans still available – repayments based on what students earn, not what they owe
• Maintenance grants up to £3,354 will be available - £25,001 - £42,611 – partial grant
• Special support grants replace maintenance grants for students in receipt of income support or housing benefit
• Disabled Student Allowance
• £150m National Scholarship Programme – universities make individual decisions about bursaries
Maintenance grants available for UK students with family income below £42,611
Living Cost loan dependent on incomeMax. living at home: £4,375Max. Studying outside London: £5,500Max. studying in London: £7,675
Government funding for full-time UK undergraduates 2013 entry
Household income
Living away from home and studying outside London
Package of support for 2013/14
Maintenance Loan
Non repayableMaintenance Grant
Total
£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 £5,770
£42,600 £5,457 £50 (minimum grant)
£5,525
£42,875 £5,500 £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
Part-time work whilst studying
Important that students balance study and work commitments
• No more than 15 hours work per week recommended
• Flexible working hours
• Opportunities: transfer from home town or visit the university job shop
• Consider working for the Student Union or the university, as a student ambassador
NB: students from lower income families may also be eligible for university bursaries – maximum cash payout of £1,000 per year, fee discounts may also be available
Examples of possible weekly term-time income - based on 39 week accommodation contract periodHousehold income
£25,000
£30,000
£40,000
£50,000
£62,125
plusMaintenance grant 3,354 2,416 540 Nil Nil
Student loan for maintenance
3,823 4,292 5,230 4,788 3,575
Part-time work£6.50 x 15 hrs/pw = £97.50 pw
3,802 3,802 3,802 3,802 3,802
Total 10,979 10,510 9,572 8,590 7,377
Weekly income 39 weeks
281 269 245 220 189
Weekly outgoings Living in Halls£
Living off campus£
Rent 123 -150 85-115Utilities 0 8Phone 2 - 7 2 - 7TV licence 0-4 4Contents insurance 0 2
Food, domestic items
10-40 30 - 40
Travel 0-15 0-15Clothing 5 - 10 5 - 10Laundry 2 - 5 2 - 5Study materials 5 5Entertainment 10-100 10-100Totals £177 - 336 £153-311
Average weekly cost of living:
Brighton - £210Eastbourne - £190
The cost of living (based on 2012 figures)
Student loans DO NOT go on credit files
Differential rates of interest - RPI to RPI plus 3%
Repayments made on 9% of income above £21,000
Monthly repayments same whether loan for £6,000 or £9,000 per year.
Debt cleared after 30 years
Early repayments - no penalties
RepaymentsAnnualIncome Before Tax
Graduates, Current &11-12 entrants
2012-13 entrants
Annual Monthly Annual Monthly
£15,000 £0 £0 £0 £0
£16,000 £90 £7.50 £0 £0
£21,000 £540 £45 £0 £0
£22,000 £630 £52.50 £90 £7.50
£24,000 £810 £67.50 £270 £22.50
£30,000 £1,350 £112.50 £810 £67.50
£35,000 £1,800 £150 £1,260 £105
£40,000 £2,250 £187.50 £1,710 £142.50
£45,000 £2,700 £225 £2,160 £180
£50,000 £3,150 £262.50 £2,610 £217.50
Source: National Association of Student Money Advisers
Other funding
Scholarships - No national system – research with each university – very popular - awarded for various things
Merit Means tested Sporting abilities local students
Sponsorship Charities
some charities and trusts offer financial help, but their eligibility rules vary. The Educational Grants Advisory Service (EGAS) provides information and advice on sources of funding through their Directory, helpline and website.
Applying for funding
Once the student has completed their UCAS from they register on line at:
www.direct.gov.uk/studentfinance
One application to assess eligibility for grants and loans national insurance and passport (if they have one) number
required
Apply spring of entry year Linked to UCAS application and gives useful information about
bursaries at chosen universities Deadline for completion - end of May to guarantee money
available for start of term.
Applying for funding
Student registers in person at beginning of term: University confirms to SFE that student has enrolled
Money transferred to student bank account via BACS
Money paid in 3 instalments
Funding for NHS courses
• NHS will fully fund: Dietetics; Dental hygiene or Dental Therapy; Occupational Therapy; Operating Department Practitioner; Orthoptics; Physiotherapy; Podiatry; Prosthetics and Orthotics; Radiography; Speech and Language Therapy
• Check funding arrangements for: Audiology and Paramedic Practice/Science
• All students eligible for up to £3,263 non-means tested reduced maintenance loan through SFE
• All students eligible for £1,000 non-means tested grant through NHS Bursaries
• Some students eligible for up to £5,460 means tested bursary through NHS Bursaries