Student Finance 2012/2013
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Transcript of Student Finance 2012/2013
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Student Finance2012/2013
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• Full Time Higher Education
- Eligibility Criteria
- Financial Support Available
- Exceptions
• Part Time Higher Education
• How to apply
• What happens next?
• Repayments
• Further Education Awards
Contents
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Eligibility Criteria
There are three main conditions you must meet:
•Be personally eligible – have lived in the UK and Islands for at least 3 years before the start of your course and living in Northern Ireland on the first day of the academic year in which your course begins•Must attend an approved college – a University or College in the UK or ROI that is maintained out of public funds, CAFRE, certain private colleges
•Must attend an approved course – degree, HNC, HND, Dip HE, Foundation degree
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Tuition fee loan
• All eligible students can take out a loan for the amount charged by the institution (NI institutions £3465 per year, remainder of the UK max £9000 per year)
• Amount charged depends on your country of residence, not on a passport
• Fees paid direct to your institution by SLC• No income assessment involved• Pay back only when you are earning more than
£15,795 per year
Financial support available
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Maintenance Loan
• Max £6,780 if living away from parents’ home and studying in London
• Max £4,840 if living away from parents’ home and studying outside London
• Max £3,750 if living at home• Maintenance loan is means-tested
The loan is reduced if you receive a Maintenance Grant or
Special Support Grant
Financial support available
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Maintenance Grant/Special Support Grant
• Non-repayable grant for students from low income households (< £41,065)
• Full grant where household income < £19,203• Worth up to £3,475 a year – depending on household
income• SSG is available to students who are eligible for
income support or housing benefit (benefits not reduced)
• Not available for students studying in ROI
Financial support available
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Studying in the ROI
• No Tuition Fees. Flat rate charge of €2250 paid to institution for you by local SFni office.
• If required to pay €2250 on enrolment day, ensure PN1 application is returned to local SFni office to enable this fee to be refunded by your institution.
• Eligible for a means tested bursary of up to £2000 where income < £23,605 and maintenance loan.
• Transfer or repeat students will be charged full tuition fees (not payable by SFni)
Financial support available
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Extra Help with Living Expenses
• Parents’ Learning Allowance• Childcare Grant• Adult Dependants’ Grant
See Application form or contact Student Finance for further details
Financial support available
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Disabled Students’ Allowance
A range of help available which is not means tested on
household income
• Specialist equipment allowance of up to £5,266 for the whole course
• Non-medical helpers’ allowance of up to £20,938 per year
• General allowance of up to £1,759 per year• Extra travel costs as a result of the disability
Contact the Disability Adviser at your institution for an assessment of what support you will require.
Financial support available
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Help from your Institution
Access Bursary – NI institutions•Extra (non-repayable) grant for students who are in receipt of full (or in some cases partial) Maintenance Grant or Special Support Grant•No separate application involved – eligibility determined through your Student Finance application•Each institution offers different amounts of support
Similar support throughout the UK – contact institution for details.
Financial support available
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Student Finance NI assesses household income based on:
Your gross taxable income (excluding any earnings during institution term-time and holidays);
PLUS Gross taxable income of parent(s) / partners / step-parents;
LESS Deductions for payments into pension funds and £1,153 for each other dependent child in the household
This does not apply to Independent students
Assessment process
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Living cost support 2012/13
IncomeIncomeMaintenanceMaintenance
Grant Grant Lodging Rate Lodging Rate
of Loanof LoanMaint Grant Maint Grant Plus LoanPlus Loan
£19,203£19,203 £3,475£3,475 £2,953£2,953 £6,428£6,428
£25,000£25,000 £2,201£2,201 £3,289£3,289 £5,490£5,490
£35,000£35,000 £689£689 £4,151£4,151 £4,840£4,840
£41,065£41,065 £50£50 £4,790£4,790 £4,840£4,840
£53,035£53,035 £0£0 £3,630£3,630 £3,630£3,630
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• Health Professional degrees in NI – income assessed bursary of £2355 (2011/12 rate), reduced loan of £2370 and Tuition fees paid in full
• Health Professional degrees elsewhere in UK – reduced loan and NHS bursary
• Nursing degrees / diplomas in NI, Scotland and Wales – not eligible for any funding from SFni
• Nursing degrees in England – reduced loan and NHS bursary. Diplomas in England – no support
• Social Work degrees in NI – additional funding from DHSSPS of non-means tested grant and contribution towards work based learning expenses
Exceptions
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HE part time courses must be at least one year’s duration
and at least 50% of a full time course.
Support for eligible students will consist of:• A means tested Tuition fee grant of up to £1,230• A means tested grant of up to £265 • Disabled Students’ Allowance
Part-time HE Courses
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• Paper application forms available from school or your local Student Finance NI office or download an application form at www.studentfinanceni.co.ukwww.studentfinanceni.co.uk
• Complete form fully and return to your local Student Finance NI office
• Pay correct postage (1st class not sufficient)• Apply as soon as possible and check your application
online• EU Students should apply to the EU Team in Darlington
How to apply
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Information required
You must provide the following information with your application form –• Original UK Birth certificate or valid Passport. A Birth certificate must be accompanied by an identity confirmation form• National Insurance Number• Your bank account details• Details of your income and that of your household
How to apply
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Application acknowledged and you receive Customer Reference Number
(EMA students retain same number) ↓SFni determines whether you are eligible for support and amount
due ↓SLC sends notification of how much support you will receive and
when ↓Take your notification to University at enrolment stage ↓Your University confirms enrolment ↓SLC pays your support each term by BACS
What happens next?
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Tell SFni of any change in your circumstances as this may affect
your entitlement e.g.
• Name / marital status• Address (home / lodging)• Transfer / Suspension / Withdrawal from course / college.• Absence• Drop in parents’ income
What you must do
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• If you withdraw from your course during the year you may not be eligible for a Tuition fee loan, but some institutions may still charge you fees which you will have to pay
• If you are on a placement / abroad as part of your course you may not receive any support other than a reduced loan (check first with SFni)
• If you follow an HND/Dip HE course and move on to year 1 of a degree course you will not receive a Tuition fee loan or a maintenance grant for year 1 of the degree
• If you change course/repeat a year more than once you may have to self-fund part of your course.
• If you receive a grant and your entitlement is reassessed to a smaller grant/no grant at all – the SLC will demand repayment from you immediately
• You must reapply each year to get support
Things you need to know
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• You only repay Student Loans (Fees and maintenance) once you have left your course and are earning over £15,795 a year.
• Repayments are based on what is earned, e.g. earnings at £25,000 pay back £69 a month
• Current interest rate is 1.5%
• You do not repay any grants received unless you withdraw from your course or a re-assessment is required
Repayments
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How to contact us
By telephone on: 0845 6000 662
By post or personal visit:Student Finance NI3 Charlemont PlaceThe MallArmagh, BT61 9AX
Visit our web site at:www.studentfinanceni.co.uk
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• For certain lower level courses• Payment of approved Tuition fees• A grant (maximum £2092)Closing Dates: • Full time - 31 August 2012• Part time - 28 September 2012 • Guaranteed funding where fully completed applications
are received by 30 June.
Apply to: Student Finance NI Further Education Awards Section 1 Hospital Road Omagh Telephone: 028 8225 4546
Email: [email protected]
Further Education Awards
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Student Finance NI has endeavoured to detail every aspect of the application process and possible funding available to students entering Further/ Higher Education.
If you have any questions that are not covered in this presentation please read the ‘Guide to Financial support booklet’, check out the web-site or contact the CustomerServices Office on 0845 6000 662 for further assistance.
Further Guidance