Financing Higher Education

2012 Entry

Tuition Fees£ Universities are charging between £6,000

to £9,000 per year tuition fees.£ Students do not have to pay tuition fees ‘up

front’.£ Students can defer paying the tuition fees

by taking a Tuition Fee Loan. £ Loan is paid back once finished course,

and earning over £21,000 pa.

What do students spendtheir money on?

Living CostsPOTENTIAL EXPENDITURE - First Year: Average Costs (2011/12)

Accommodation Books & EquipmentFood and Drink Clubs, Societies & SportsClothingTV licenceTravel home Toiletries and haircutsTelephone and Internet Presents Social Life Housing/Damage Deposit for next year

TOTAL

Living CostsPOTENTIAL EXPENDITURE - First Year: Average Costs (2011/12)

Accommodation (average~ £156 p/wk – 31 wks, catered) 4830Books & Equipment 300Food and Drink (lunch etc at £20 p/wk – 31 wks) 620Clubs, Societies & Sports 275 Clothing 270 TV licence 145Travel home 150 Toiletries and haircuts 150Telephone and Internet (approx £100 internet in halls) 300 Social Life (approx. £35 per week) 1085Housing/Damage Deposit for next year 375

TOTAL £8,500

Student SupportLiving Cost Grant (non-repayable)

Means tested on parental incomeUp to £3,250 for all new students from lower income households

(under £25k full grant, under £42,600 partial grant).

Living Cost Loan (repayable)Means tested on parental incomeAmount will depend on

• how much grant you get • whether you live at home or not • whether you study in London or not

* Up to £5,500 living away from home, study outside London

Student Support

Institutional – Bursaries (non-repayable)

Depends on the University…

Access to Exeter Bursary - 2012

Household Income Exeter BursaryUp to £25,000 £1,500

£25,001 to £35,000 £1,000£35,001 to £42,600 £500

Student SupportInstitutional –Fee Waivers National Scholarship Fee Waivers

vary between institution

* Full Fee Waiver for all years of study for Care leavers under the age of 25

University of Exeter * Partial Fee Waiver Below £16,000 £3,000k (£2K fee waiver/

£1k accommodation waiver)£16,001 to £20,000 £2,000

£20,001 to £25,000 £1,000

Repaying loansFee loan and maintenance loan

When? - After leaving course & earning £21,000+ pa

How? - Deductions directly from wages, like tax & NI 

How much? - 9% of earnings over £21,000 pae.g. (£67.50 per month @ £30,000)

(£30.00 per month @ £25,000) (£7.50 per month @ £22,000)

- Can pay more- If earnings fall, contributions fall- Outstanding debts written off after 30 years

How to make up the difference • Vacation and term time earnings/savings • Scholarships/trusts/charities• Bank overdraft• Extra parental contribution• Additional support is also available for

students with additional needs – e.g. students with disabilities or dependents

• Hardship funds

How and when to apply

How – www.direct.gov.uk/studentfinance

download or print off form

When – in the early spring in the year of entry

Any Questions?