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Student Finance

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Student Finance. Changes to fees in 2012 What finance is available Applying for finance. Government changes to Higher Education. Teaching budgets to be cut by 82% - from £4billion to £700million over 4 years. For some courses, public funding is being removed entirely.

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Presentation Transcript
slide1
Student Finance
  • Changes to fees in 2012
  • What finance is available
  • Applying for finance
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Government changes to Higher Education

  • Teaching budgets to be cut by 82% - from £4billion to £700million over 4 years.
  • For some courses, public funding is being removed entirely.
  • New £150m National Scholarships Scheme for “bright potential students from poor backgrounds”.
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Proposed changes

- Tuition Fees

  • Universities can charge a basic threshold of £6,000 per year for tuition fees (current max. = £3,375)
  • In “exceptional cases”, some universities will be able to charge up to £9,000, on approval by the Office For Fair Access (OFFA).

by 19 April deadline of the 80 universities that had confirmed their 2012 planned fees, nearly 70% want to charge the full £9,000 for all or some courses

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Proposed changes - repayments

  • No repayments until after you are earning £21,000 (currently £15,000)
  • Repayment = 9% of income above £21,000
  • All outstanding repayments written off after 30 years.

Interest rates: RPI (inflation) + 3% during study

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How to apply

Logon to www.direct.gov.uk/sf-apply and register

When to apply

Registration opens in March

When you receive your money

Payments are made after you have started your university course not before - so make contingencies !

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