Financial Support for Undergraduate Students

1. Financial Support for Undergraduate Students

2. Financial Support for Undergraduate Students Student Assistance Humphrey Booth House The Crescent Salford 0161 295 0467 sao-acd@salford.ac.uk

3. Costs of Higher Education 2007- New Students • Tuition fees (up to £3070 per year in England) • Accommodation (£50 - £100 per week) • Maintenance (£50 - £100 per week) • Additional costs: field trips accommodation deposits

4. Criteria for all Support Funds • Conditions for all support funds therefore check with your LEA to be sure of eligibility • The following is for students who normally live and will study in England

5. Financial Support for Undergraduate Students • Student loan for fees • Student loan for maintenance • Higher Education Maintenance Grant • University bursaries • Support for students with dependants • Disabled students allowances • Access to Learning Fund (ALF)

6. Student Loans for Fees - 2006 • Repayable • Not means tested • Borrow up to costs of course fees (£3070)

7. Fees for Placement Periods - 2007 • Students do not pay for the period of the placement • relevant work experience • relevant study away from the University of Salford • Minimum of 1 semester (12 weeks)

8. Student Loans for Maintenance - 2007 • Repayable • 25% of loan is means-tested: 75% available to all. • Up to £4510 per year living away • Up to £3495 living at home • But students on HEMG will lose up to £1230 of their loan for maintenance

9. Higher Education Maintenance Grant (HEMG) • Not repayable • Up to £2765 • Income £17910 or less, full amount of grant • Income between £17910 and £38330, partial grant • Income over £38330 no grant

10. University Bursaries • Not repayable • Means-tested • Vary between Universities • Salford will pay £660 in non-repayable funding • Additional support for overseas travel

11. Students with Children • Childcare Grant • Up to 85% or childcare costs up to a maximum • Means tested • Parents’ Learning Allowance • Between £50 and £1435 • Means tested

12. Students with Adult Dependants • Adult Dependants’ Grant • Financially dependant partner or family member • Max grant £2510 • If not a partner the adult must have a net income of £3610 or less

13. How to Apply • New students need to fill in a PN1 form • These are not yet available • www.studentsupportdirect.co.uk • This must be sent to your Local Education Authority (LEA)

14. Information to Include • National Insurance Number • Birth certification or valid passport or other evidence • Details of student’s income and that of their household (previous financial year) • Student bank account details

15. Repaying Loans (2006 figures) • Low interest rate • 9% of income above £15,000 per year • Examples: • income of £18000 repayment £22 per month • income of £20000 repayment £37 per month • income of £25000 repayment £75 per month • 2007 loans not repaid after 25 years written off

16. Examples of support Living at Home – income £16000, taking fee loan Money to live on £5680

17. Examples of support Living at Home – income £16000, NOTtaking fee loan Money to live on £2605

18. Examples of support Living at Home – income £40000, taking fee loan Money to live on £3370

19. Examples of support Living at Home – income £40000, NOT taking fee loan Money to live on £300

20. Further Information on Fees and Bursaries • Salford University Website www.salford.ac.uk • Student Support Website (government) www.dfes.gov.uk/studentsupport

21. Further Information on Funding • Student Finance Direct www.studentsupportdirect.co.uk • Student Assistance http://www.academic.salford.ac.uk/finance/ 0161 295 0475 sao-acd@salford.ac.uk

22. Conclusion • Costs of higher education • Sources of support • Higher education is affordable and an excellent investment for the future • Graduate Prospects found that University graduates earn on average around 50% more than those who did not go to University.