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StudentFinance

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Student Finance England…

• Are part of the Student Loans Company

• Administer financial support for higher education students who normally live in England

• Students apply to us for funding

• We pay their university or college the fees, and pay them their support

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Student Finance Package

Tuition FeeLoan

Maintenance

Support

Scholarships

& Bursaries

AdditionalSupport

Student FinancePackage

£

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TuitionFee Loan

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Tuition fees

• HE institutions can charge up to £9,000 per year

• The fee levels set will be decided by the university

• The average for 2012 is thought to be around £8,657

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Paying the tuition fee

• No upfront payments

• The non means tested tuition fee loan (not dependent on household income) is available to cover tuition fees

• Tuition fee loan is not compulsory

£

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Maintenance Support

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Maintenance Loan

All eligible students are entitled to a Maintenance Loan, with 65% of the total loan amount being Non Means Tested (not based on household income)

The amount of Maintenance Loan available will be linked to where a student lives and studies

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Maintenance Grant

• 100% means-tested and non-repayable

• Students from households with income of up to £25,000 will be entitled to the maximum £3,354

• Students from households with incomes of up to £42,600 will be entitled to a partial grant

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Combined supportStudent living away from home, outside London

Household Income

Maintenance Grant

Maintenance Loan Total

£25,000 & under £3,354 £3,875 £7,229

£30,000 £2,341 £4,330 £6,671

£35,000 £1,432 £4,784 £6,216

£40,000 £523 £5,239 £5,762

£45,000 £0 £5,288 £5,288

£50,000 £0 £4,788 £4,788

£55,000 £0 £4,288 £4,288

£60,000 £0 £3,788 £3,788

£62,500 & over £0 £3,575 £3,575

£

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Scholarships and Bursaries

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Scholarships and bursaries

HEI Bursaries:• Depend on circumstances• Vary by institution

HEI Scholarships:• Academic, sport or music• Vary by institution

National Scholarship Programme:• Fee waiver or discount• Discounted accommodation or other service• Scholarship/bursary – capped as a cash award

at £1,000.

£

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Additionalsupport

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Disabled Students Allowance

• Help towards the additional costs that a student may face as a result of their impairment, health condition or specific learning difficulty

• In addition to the standard student finance package.

• Does not have to be repaid

• Is not affected by the household income

• Looks at the specific needs of the individual in relation to their studies.

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Disabled Students Allowance

AllowancePart-time maximum support

Full-time maximum Support

Frequency of Payment

Non-medical personal helper

£15,390 £20,520 Annual

Specialist equipment £5,161 £5,161Duration of

course

Other disability-related expenditure

£1,293 £1,724 Annual

Disability-related travel No Limit – reasonable spending can be claimed

DSA Allowance rates

Full and part-time disabled postgraduate students can receive up to £10,260 a year

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Dependants Grants (means tested)

Adult Dependants’ Grant (application on-line through directgov)For students with a partner or another adult who is financially dependent on them (cannot be an adult child). Maximum grant £2,642.

Students with children:Childcare Grant (application by completing form)Based on 85% of actual childcare costs up to maximum of: £148.75 per week for one child£255 per week for two or more childrenStudents apply by completing form

Parents’ Learning Allowance (application on-line through directgov)Help with course-related costs for students with dependent children. Amount received will be between £50 and £1,508.

£

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StudentLoan Repayment

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Student Loan Repayment

• You are eligible for repayment:

– the April after you leave/graduate if full-time– the April 4 years after starting if part-time

• No repayments until earning over £21,000 pa (£1,750 per month) gross

• Repayments collected by HMRC, at a rate of 9% of what you earn above £21,000

• Any outstanding debt written off after 30 years

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Student Loan Repayment

Income each year before tax

Approximate monthly repayment

Current Students Future Students

£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

Income each year before tax

Approximate monthly repayment

Current Students Future Students

£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

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Student Loan interest rates

While at university if taking out Maintenance / Tuition Fee Loan(interest starts accruing as soon as loans are taken out)

Retail Price Index + 3%

Once in repayment system: not working or earning below £21,000

Retail Price Index

Once in repayment system: earning £21,000 - £41,000

Retail Price Index + up to 3% (sliding scale)

Once in repayment system: earning more than £41,000

Retail Price Index + 3%

£

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Resources for

students & parents

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Clearly Worded Checklists for Students

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www.facebook.com/SFEngland

www.twitter.com/SF_England

• Announcements on key dates, turnaround times etc.• Links to information and guidance materials

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Customer Helpline (for students & sponsors)

Help with applications

Info on student finance

But check website first!

8am to 8pm Monday to Friday9am to 5:30pm Saturday & Sunday

0845 300 5090

£

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Resources for you

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www.practitioners.slc.co.uk

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Resources for you to use with students

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Resources for use with parents

Developed following partner survey & consultation

Suite of resources including myth buster, FAQ & video

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Lesson Plans linked to IAG Quality Standards

Two fully scripted 45 minute lesson plans

Developed & trialled with IAG partners, updated for 12/13

Interactive & encourage research

Fully mapped to IAG Quality Standards

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Resources to help with applications

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Resources to use in your prospectus

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Practitioner Team Helpline

Regulations

Complex Queries

Designated Courses

Expert Advice

10am to 4pm Monday to Friday

0845 602 0583 or ssin_queries@slc.co.uk