Fees & Funding for 2015-16

Key Words

Tuition Fees – Amount charged to study on the course. Generally apply to all undergraduate degrees with some exceptions for health courses. Paid per year of study

Student loans – Taken out to cover tuition fees and living costs. Need to be paid back gradually once earning a certain amount

Grants – Money from the government which doesn’t have to be paid back. Amount received generally dependent upon income

Living costs – Food, accommodation, bills, course costs…

Interest – The fee charged to you for the use of borrowed money

Means-test – assessment of residual household income

Residual household income - This is effectively the household income BEFORE tax and AFTER any pension contributions or allowances for dependant children.

How much will it cost?

Annual Tuition Fees for 2015-16

York St John University tuition fees are £9,000

Accommodation - approx. £4,000-£7,300 Pay termly, in advance, by cheque or direct debit

Living costs - approx. £4,000 (but varies!)Food , books, course costs, clothes, laundry, entertainment, travel home

Financial help is available

Tuition Fees

Do not have to pay up front or whilst studying

Tuition Fee Loan available from the Student Loans Company

Loan also available for eligible part-time, first-degree students who complete minimum of 25% of full time course load

Some exemptions to fees– NHS courses e.g. Physiotherapy and Occupational Therapy

Financial help available from York

St John

York St John Bursary

Paid by YSJ to UK/EU students starting in September 2015, enrolled on a programme charging the maximum fee of £9,000.

• Non-repayable

• Don’t have to apply as it is an automated assessment

• Paid in 2 instalments

The Bursary will be awarded to qualifying students with a residual household income as below:

Residual family income

YSJ Bursary 2015-16

<£25,000 £1,000

Financial help is available from

the government

Living Cost Loan (Maintenance Loan)

Available for all eligible full-time students

All students are eligible for 65% of the loan, further 35% is means-tested on residual household income

In 2015/16 the maximum annual loan available if you live with your parents will be £4,565, if you live away from home £5,740

Paid in three instalments at the beginning of each term (Sep/Jan/Apr)

This loan is repayable

Financial help is available from

the government

Living Cost Grant (Maintenance Grant)

The amount of the grant is dependant on residual household income

Available for eligible full-time students

Paid in three instalments at the beginning of each term (Sep/Jan/Apr)

This help does not have to be repaid

Apply for all funding via www.gov.uk

Residual household income

Maintenance Grant (annual amount)

Below £25,000 £3,387

£25,000 - £42,620 Partial grant

Above £42,620 £0

Care Leavers

Extra help if you're leaving local authority care

Extra funding from your Local Authority, please visit www.gov.uk for more information.

Care Leaver & Foyer Allowance

• Available to students who have been in care or a Foyer Foundation for at least 3 months within 3 previous years before study

• The awards will be granted on an individual

basis

Repayment of loans

Salary Amount of salary from which 9%

will be deducted

Monthly repayment

< £21,000 £0 £0

£21,500 £500 £4.00

£25,000 £4,000 £30.00

£30,000 £9,000 £67.50

£35,000 £14,000 £105.00

£40,000 £19,000 £142.50

£45,000 £24,000 £180.00

£50,000 £29,000 £217.50

£55,000 £34,000 £255.00

£60,000 £39,000 £292.50

www.studentloanrepayment.co.uk

Interest RatesDuring study until

entering repaymentRetail Price Index (RPI)

+3%

Income: Below £21,000

RPI Only

Income Between:

£21,000 - £41,000RPI plus some amount

between 0% and 3%

Income:

Above £41,000Retail Price Index (RPI)

+3%

www.studentloanrepayment.co.uk

Accommodation

• Will undoubtedly be your biggest spend• Be realistic• Do you NEED an en-suite?• What is included?• Remember your TV licence! • Sharing your flat = sharing the cost• Visit the accommodation • Check contracts from private landlords• Parking – additional permit charge?

Saving Money

• Don't be a supermarket snob!• Do not use local convenience stores / corners shops

very often • Be sensible when it comes to special offers• Don’t go shopping after a big night out or when you

are hungry!• Sign up for a loyalty / reward card • Visit local produce markets – fresh and cheap! And

you may be able to haggle! • Visit supermarkets about an hour before they close• Get a bag for life! • Plan ahead what you need for the week• Ask parents for help

Saving money

• Do you really need to bring a car to University? • If it is off-road for most of the year – SORN it!• Don’t use taxi’s unnecessarily• Use public transport• Student Rail cards = 1/3 off all fares!• Buy weekly / monthly bus passes• Use park and ride services • Buy a bicycle!

Saving Money

• Return your library books on time • Don’t eat in the canteen / dining hall everyday • Be careful of what you print • Buy second hand books from amazon where possible• Check out noticeboards / forums for graduates selling

off items especially books and other useful resources• Look out for part time job opportunities around campus

that fit well around your studies• Keep an eye out for events and opportunities within the

university that could be a cheap way to socialise or could lead to employment

Top Tips

• Spend time making a budget planner.

• Accommodation will be your biggest spend. So be realistic. Do you NEED an en-suite?

• Open a Student Bank Account. Check for charges. Many Banks offer an Interest Free Overdraft

• Watch out for discounts. Use your NUS Card

• Part-Time Jobs:o Transfer Employmento Access the Careers and Employability Team

• Work and Save Now

Don’t struggle alone… speak up!

There are many points of contact throughout the university if you are having money worries, but start with the Student Funding Advice Team.

Many universities have hardship funds available in extreme circumstances.

Visit the money saving expert website for specific advice and tips for students, including: • Council tax discounts• Student bank accounts• Overpayment of tax• TV licence refunds• Student insurance

http://www.moneysavingexpert.com/students/student-guide

Contacts

Student Funding Advice Team

01904 876939

fundingadvice@yorksj.ac.uk

Useful websites:• www.yorksj.ac.uk

• www.gov.uk/studentfinance

• www.nhsbsa.nhs.uk

• www.studentloanrepayment.co.uk

• www.studentfinanceengland.co.uk

Have a great day!