Student Funding

Gino GrazianoWidening Participation Outreach Manager

Student funding

Same arrangements

for courses included

within HEFCE & DfE

contracts

Tuition fees payable

Tuition fee and

maintenance loans

available from Student

Loans Company

Includes Medicine and

Social Work, but NHS

also provide funding

NHS funded courses

have different

arrangements

Higher Education funding

• Tuition fees of up to £9,000 per year

• Tuition fees do not have to be paid up front whilst studying, full or part-time

• Tuition fees and maintenance loans still available – repayments based on what students earn, not what they owe

• Maintenance grants up to £3,354 will be available - £25,001 - £42,611 – partial grant

• Special support grants replace maintenance grants for students in receipt of income support or housing benefit

• Disabled Student Allowance

• £150m National Scholarship Programme – universities make individual decisions about bursaries

Maintenance grants available for UK students with family income below £42,611

Living Cost loan dependent on incomeMax. living at home: £4,375Max. Studying outside London: £5,500Max. studying in London: £7,675

Government funding for full-time UK undergraduates 2013 entry

Household income

Living away from home and studying outside London

Package of support for 2013/14

Maintenance Loan

Non repayableMaintenance Grant

Total

£25,000 or less £3,823 £3,354 £7,177

£30,000 £4,292 £2,416 £6,708

£35,000 £4,761 £1,478 £6,239

£40,000 £5,230 £540 £5,770

£42,600 £5,457 £50 (minimum grant)

£5,525

£42,875 £5,500 £0 £5,500

£45,000 £5,288 £0 £5,288

£50,000 £4,788 £0 £4,788

£55,000 £4,288 £0 £4,288

£60,000 £3,788 £0 £3,788

Over £62,125 £3,575 £0 £3,575

Part-time work whilst studying

Important that students balance study and work commitments

• No more than 15 hours work per week recommended

• Flexible working hours

• Opportunities: transfer from home town or visit the university job shop

• Consider working for the Student Union or the university, as a student ambassador

NB: students from lower income families may also be eligible for university bursaries – maximum cash payout of £1,000 per year, fee discounts may also be available

Examples of possible weekly term-time income - based on 39 week accommodation contract periodHousehold income

£25,000

£30,000

£40,000

£50,000

£62,125

plusMaintenance grant 3,354 2,416 540 Nil Nil

Student loan for maintenance

3,823 4,292 5,230 4,788 3,575

Part-time work£6.50 x 15 hrs/pw = £97.50 pw

3,802 3,802 3,802 3,802 3,802

Total 10,979 10,510 9,572 8,590 7,377

Weekly income 39 weeks

281 269 245 220 189

Weekly outgoings Living in Halls£

Living off campus£

Rent 123 -150 85-115Utilities 0 8Phone 2 - 7 2 - 7TV licence 0-4 4Contents insurance 0 2

Food, domestic items

10-40 30 - 40

Travel 0-15 0-15Clothing 5 - 10 5 - 10Laundry 2 - 5 2 - 5Study materials 5 5Entertainment 10-100 10-100Totals £177 - 336 £153-311

Average weekly cost of living:

Brighton - £210Eastbourne - £190

The cost of living (based on 2012 figures)

Student loans DO NOT go on credit files

Differential rates of interest - RPI to RPI plus 3%

Repayments made on 9% of income above £21,000

Monthly repayments same whether loan for £6,000 or £9,000 per year.

Debt cleared after 30 years

Early repayments - no penalties

RepaymentsAnnualIncome Before Tax

Graduates, Current &11-12 entrants

2012-13 entrants

Annual Monthly Annual Monthly

£15,000 £0 £0 £0 £0

£16,000 £90 £7.50 £0 £0

£21,000 £540 £45 £0 £0

£22,000 £630 £52.50 £90 £7.50

£24,000 £810 £67.50 £270 £22.50

£30,000 £1,350 £112.50 £810 £67.50

£35,000 £1,800 £150 £1,260 £105

£40,000 £2,250 £187.50 £1,710 £142.50

£45,000 £2,700 £225 £2,160 £180

£50,000 £3,150 £262.50 £2,610 £217.50

Source: National Association of Student Money Advisers

Other funding

Scholarships - No national system – research with each university – very popular - awarded for various things

Merit Means tested Sporting abilities local students

Sponsorship Charities

some charities and trusts offer financial help, but their eligibility rules vary. The Educational Grants Advisory Service (EGAS) provides information and advice on sources of funding through their Directory, helpline and website.

Applying for funding

Once the student has completed their UCAS from they register on line at:

www.direct.gov.uk/studentfinance

One application to assess eligibility for grants and loans national insurance and passport (if they have one) number

required

Apply spring of entry year Linked to UCAS application and gives useful information about

bursaries at chosen universities Deadline for completion - end of May to guarantee money

available for start of term.

Applying for funding

Student registers in person at beginning of term: University confirms to SFE that student has enrolled

Money transferred to student bank account via BACS

Money paid in 3 instalments

Funding for NHS courses

• NHS will fully fund: Dietetics; Dental hygiene or Dental Therapy; Occupational Therapy; Operating Department Practitioner; Orthoptics; Physiotherapy; Podiatry; Prosthetics and Orthotics; Radiography; Speech and Language Therapy

• Check funding arrangements for: Audiology and Paramedic Practice/Science

• All students eligible for up to £3,263 non-means tested reduced maintenance loan through SFE

• All students eligible for £1,000 non-means tested grant through NHS Bursaries

• Some students eligible for up to £5,460 means tested bursary through NHS Bursaries

Useful websites

• www.brighton.ac.uk/money

• www.gov.uk/student-finance

• www.gov.uk/student-finance-calculator

• www.moneysavingexpert.com/family/student-loans-tuitionfees-changes

• www.studentloanrepayment.co.uk

• www.nhsbsa.nhs.uk/816.aspx