Academic excellence for business and the professions

Student Finance 2014/2015

Saturday 29 June 2013

What is Student Finance?

This is the money available to

you from the Government to

help you fund your studies

Tuition fees Course materials Living expenses

Tuition Fees

Course type Maximum tuition fee

and loan rate

Full-time undergraduate course £9,000

Part-time undergraduate course £6,750

Foundation course £4,500

• £9,000 for full-time undergraduate courses

• Payable by non-means tested tuition fee loan

• Available to all UK and EU students

• Paid directly to the university

Course materials and expenses • Books

• Printing, portfolios

• Internet access

• Laptop, printer, scanner

• Specialist equipment

• Study abroad programmes

Weekly living expenses

Expense Away from home At home

Accommodation/contribution £186 £35

Food £40 £25

Travel £21 (zones 1-2) £30 (zones 1-4)

Course materials £7 £7

Mobile £8 £8

Entertainment £15 £25

Miscellaneous £10 £10

Total per week £287 £140

Maintenance Loan

Where you will live Max loan rate

Away from home, studying in London £7,751

At home £4,418

Study abroad year £6,600

•Towards accommodation, food, travel and course materials

•Available to full-time UK Home students

•65% non-means tested - up to £5,038

•35% means tested – up to a further £2,713

•Paid at the start of each term

Student loan repayment •Tuition fee and maintenance loans are combined

•Repayment begins April after graduation

•9% of salary above £21,000

•Interest is charged at 3% plus inflation

•All loans written off after 30 years Annual Salary Amount of salary from

which 9% will be deducted

Monthly repayment

£21,000 £0 £0

£25,000 £4,000 £30

£30,000 £9,000 £67.50

£40,000 £19,000 £142.50

Maintenance Grant

Where you are living Maximum

Maintenance

Grant

Maximum

loan

entitlement

Total

funding

Away from home,

studying in London

£3,387 £6,058 £9,445

At home £3,387 £2,725

£6,112

•Household income ≤ £42,611

•Full grant ≤ £25,000

•Partial grant £25,001 to £42,611

•Loan substitution - Maintenance Grant only

•Special Support Grant - students with children and/or disability

Dependent Allowances

Allowance/Grant Amount

Childcare Grant £257.55 max per week

Parents Learning Allowance £1,523 per year

Adult Dependants’ Grant £2,668 per year

Child Tax Credits Variable (£60 per week)

Disabled Students’ Allowances (DSAs)

• Mental health conditions and specific learning difficulties

• Additional study related expenses

• Needs based

• Full and part time students are eligible

Allowance type Max amount per year

General disabled student allowance £1,741

Specialist equipment allowance £5,212

Non-medical helper's allowance £20,725

Extra travel costs Variable

Learning Success Team: specialist support - Disabilities,

Dyslexia, Mental Health and Wellbeing, Academic Learning

Support

Application process

National Scholarship Programme 2014/15 • £1.2M

• 200+ awards available worth £6,000 each

• Paid as £3,000 tuition fee waiver and £3,000 student choice

• Eligibility criteria:

• Home/UK students ordinarily a resident in England;

• Household income equal to/less than £16,000;

• New undergraduates starting in 2014/15.

• Application:

• UCAS application

• Student Finance application

• Consent to Share

Scholarships

Scholarship Eligibility criteria Amount

Lord Mayor of London

Scholarships for

Academic Excellence

UK/EU

ABB+

Up to £3,000

per academic

year

City Undergraduate

Accommodation Bursary

New UK/Home 2014/15

In receipt of Maintenance Grant

City nominated Halls

£2,000

per academic

year

Sir John Cass's

Foundation Lord Mayor's

Scholarship Programme

UK resident

Under 25 years

Inner London boroughs

Specific subjects

Up to £7,000

per academic

year

More scholarships…

• School scholarships

• External sponsors

• Paid towards tuition fees or maintenance costs

• Based on financial need and/or academic merit

• www.city.ac.uk/scholarships

Case study 1

Income Per

academic year

Per

week

Loan £6,058 £155

Grant £3,387 £86

Part-time job £1,870 £48

Total £11,315 £289

Weekly expenses Amount

Accommodation

(Liberty Court)

£185

Food

£40

Travel

(zones 1-2)

£21

Course materials

£7

Mobile

£7

Entertainment

£10

Miscellaneous

£15

Total £285

Andrew Living in halls

Case study 2

Rachel Living at home

Weekly

expenses

Amount

Contribution

at home

£30

Food

£25

Travel

(zones 1-4)

£31

Course

materials

£7

Mobile

£8

Entertainment

£25

Miscellaneous

£15

Total £141

Income Per

academic year

Per

week

Loan £2,725 £69

Grant £3,387 £86

Total £6,112 £155

NUS Discounts

Money Management Tips

• Keep a budget

• Find cheaper alternatives second-hand books, packed lunches, cycle/walk

• Student bank account with an interest-free overdraft

• Find part-time employment

• Minimise excessive spending

City University London Hardship Fund

• Discretionary financial assistance

• Financial hardship

• Unexpected financial emergencies

• Priority for vulnerable groups

• Maximum award around £1,000

Further information

• Student Finance England (SFE)

www.direct.gov.uk/studentfinance

• Online Student Calculator

www.studentcalculator.org.uk

• Money Advice

www.moneysavingexpert.com

• Mobile Apps

www.play.google.com

Questions

fundsservice@city.ac.uk www.city.ac.uk/studentcentre