Finance july 2001

04/08/2023 Student Services

Student Financial Support

April 8, 2023 Student Services

Student Financial Support Team• Welcome to Edge Hill University from

The Money Doctors

• We are here to;– Translate financial regulations & changes to government funding into easily understandable and accessible formats– Keep abreast of any changes so that we can keep students, parents and staff fully informed– Administer Access to Learning Fund and Short-term loans– Advise on benefits available to individual groups of students.– Refer students to other agencies

Where We Are Based

• The Student Financial Support Team are based in the Student information Centre, Ormskirk Campus and appointments with the Finance and Welfare Rights Advisers can be made at the Information Desk or over the telephone.

• The Student Information Centre is open during term-time between 8.30am -7.30pm Monday to Thursday and 8.30 – 5.00pm Friday. The Centre closes at 5.00pm in the vacations.


What will my financial package be as a FT student in 2011?

• Fee loan • Maintenance loan• Grants for eligible students• Edge Hill Bursary for eligible students• Scholarship for successful applicants• Government benefits for eligible students


Finance Arrangements

• All assessment for fee loans, maintenance grants and maintenance loans are made online at www.direct.gov.uk/studentfinance

• Early application is advised to ensure funding is available at start of term.

• Assessment based on household income.

• Payments are made via the Student Loan Company.


http://www.direct.gov.uk/studentfinance


Tuition Fees Full-Time Students

Annual fees for new FT students commencing courses in 2011;

• £3,375 pa for full time Foundation Degree students

Choice of Payment Methods

• Direct to the University ( standing order, cheque, debit & credit card )• Via Tuition Fee Loan (Student Loan Company pays the University, student pays back after graduation)


Maintenance loans• Designed to assist with living costs such as food, accommodation and travel

20011/12 Full Year Rates Non-income assessed (72%)

Living at parental home

(up to)£3,838

(up to )£2,763

Living away from parental home (outside of London)

(up to)£4,950

(up to)£3,564


Maintenance Grants or Special Support Grant

• Non –repayable• Dependant on household income • If household income is less than £25,000 they you may qualify for the full grant of £2,906(subject to previous study rules)• If household income is between £25,001 and £50,020 you may qualify for part of the grant• If are eligible for a Maintenance Grant, then the amount you can borrow through a Maintenance loan will be reduced• This means that if you come from a lower income household, you’ll have a smaller loan to repay when you finish studying and start work• Range of additional benefits for those with disabilities, dependant children or an adult dependant.

Maintenance Grants (cont.)

Student living away from parental home (studying outside of London)

Income Maintenance Grant

Maintenance Loan

Total Grant Plus Loan

£25,000 £2,906 £3,497 £6,403

£30,000 £1,906 £3,997 £5,903

£40,000 £711 £4,595 £5,306

£45,000 £381 £4,760 £5,141


Payback Time!

• Loans have to be repaid• Won’t have to start repaying until the April after you have

finished your course.• Only start repayments when earning over £15,000pa• Monthly payments calculated on how much you earn, not

how much you owe


Salary Monthly Repayments

£15,000 0

£18,000 £22

£24,000 £67

Council Tax Exemption

• Full time students are classed as being ‘invisible’ for council tax purposes.

• If you are the only adult living in the house then you should become exempt for council tax purposes

• If you live with another adult then you may qualify for a 25% reduction

• If there are two or more adults then no reduction will be made



Tuition Fees 11/12Annual Fees:• Up to £1,345 pa for part time courses

Choice of payment methods:• Direct to University (standing order, cheque, debit & credit card)• Via Fee Grant for eligible students

PT Funding

• Students commencing PT courses from 2011 may be eligible for the part time student support package from SFE

• The course intensity must be at least 50% of an equivalent full time course

• Students will be assessed for a course grant and a fee grant but no help with living costs

• The amount of fee grant a student may be entitled to receive will depend on the intensity of study and household income

• Students can only apply for this support once registered on a course

• None of this support is repayable


Application process…

• Apply to Student Finance England (SFE) for assessment

• Download form PTG1- www.direct.gov.uk/studnetfinance

• Edge Hill will need to stamp the form to confirm you are on the course

• Send proof of your yours and partners income, if relevant, with your application

• Application needs to be made within 6 months

http://www.direct.gov.uk/studnetfinance

Automatic Entitlement

• Students will receive the maximum course grant and fee grant if in receipt of any of the following benefits Income SupportHousing Benefit /Local Housing Allowance Income related Employment and Support Allowance

(ESA)Council Tax Benefit Income based Jobseekers AllowanceNew Deal Allowance


Fee Grant and Course Grant Rates for 2011/12Household Income

Fee Grant Course Grant

Course Intensity 50-59%

Course intensity 60-74%

Course intensity 75% or more

Less than £16,845

Up to £820 Up to £985 Up to £1,230 Full course grant - £265

£16,845 Up to £770 Up to £935 Up to £1,230 Full course grant - £265

£16,846 to £25,420

Partial fee grant of at least £50 Full course grant - £265

£25,421 to £26,029

No fee grant Full course grant - £265

£26,030 to £28,065

No fee grant Partial course grant

£28,066 No fee grant No course grant

Five minute break


2012 Funding

• 2012 fees, loans & grants • National Scholarship Programme • Additional Support • 2012 part-time study • Information to be confirmed


Tuition Fees 2012

• Tuition Fees

• Tuition Fee Loans

• Loan Repayments

• Deferrals


Supporting Living Costs 2012

• 2012 Maintenance Loans

• Living away from parental home & studying in London £7,675

• Living away from parental home & studying outside London £5,500

• Living at your parent’s home £4,375

20

Supporting Living Costs 2012

• 2012 Maintenance Grants & Special Support Grants

• Students with a household income of £42,600 or less will be assessed for a non repayable grant

• Worth up to £3,250 if your household income is less than £25,000

• Partial grants if your household income is less than £42,600

21

Maintenance GrantsStudent living away from parental home (studying outside of

London)

Income Living Costs Grant

Living Costs Loan

Total Grant Plus Loan

£25,000 £3,250 £3,875 £7,125

£30,000 £2,341 £4,330 £6,671

£40,000 £523 £5,239 £5,762

£50,000 £0 £4,788 £4,788

£62,500 £0 £3,575 £3,575

Loan repayments 2012• Students start to repay loans in the April after they have graduated, when they are earning over £21,000 pa

• Repayments calculated at 9% of any income over £21,000

• Any outstanding loan amount will be written off after 30 years.

Repayment Comparison

Income each year before tax

Approximate monthly repayment

Current students & 11/12 HE entrants

2012/13 HE entrants

£15,000 £0 £0

£16,000 £8 £0

£18,000 £23 £0

£21,000 £45 £0

£24,000 £68 £23

£27,000 £90 £45

£30,000 £113 £68

£33,000 £135 £90

£36,000 £158 £113

£40,000 £188 £143


Additional Support

• Disabled Students Allowances• Child Care Grant• Parents Learning Allowance• Adult Dependant Grant• Access to Learning Funds


Part-Time Study 2012

• Tuition Fee Loan – Not means-tested

• Limits on part-time tuition costs

• Loan Repayments

• Additional Support


NSP 2012

• Government Contribution • Match Funding • Not less than £3,000 in tuition discounts &

other benefits • Full implementation 2014-15


April 8, 2023 Student Services

RED ALERT…• Interactive budget sheet

• How much income will I have?

• How much will I spend?

• Let’s now use RED ALERT to see if you will be in the red or in the black at the end of the year!


USEFUL SOURCES OF INFORMATION AND ADVICE

• Student Financial Support Team at Edge HillThe following websites:• www.edgehill.ac.uk• www.direct.gov.uk/studentfinance• www.tda.gov.uk/Recruit

http://www.edgehill.ac.uk/

http://www.direct.gov.uk/studentfinance

http://www.tda.gov.uk/Recruit


Student Financial Support Team• Student Financial Support Team 01695 584452• [email protected]

• Finance and Welfare Rights Advisors– Shahida Ahmed 01695 584502– Janice Barnes 01695584186– Helen Long 01695 584186

Any Questions?

Thank you for Listening and enjoy your course


Finance july 2001

Business

Transcript of Finance july 2001