Post 18 Options and Student Finance

1. Post 18 Options and Student Finance cmoore619@c2kni.net

2. What are the options after Year 14? • University • Regional Colleges • Vocational education • School Leaver Schemes • Apprenticeships • Employment • Gap Year • Part-time work/Part-time studies

3. Regional Colleges Higher National Diplomas or Foundation Degrees are either: • A stepping stone into a degree • A respected stand-alone qualification Offered at Belfast Metropolitan College or South Eastern Regional College Links with universities and industry Usually require 1 or 2 passes at A Level (or more for 2013 entry…some specific course requirements) Apply DIRECTLY to the college in the Jan – March period Interviews in May, June or August

4. Vocational Education or Apprenticeships • Vocational Education is specific to an employment area, i.e. Diploma in Personal Training • Fulltime vocational education is free • Apprenticeships at the age of 18 are the same as those at 16 • Young people find the employer themselves, then the training organisation • Paid to work 4 days a week and study 1 day a week • 3 years to complete NVQ 2 and 3

5. School Leaver Schemes • Advertised January – August • Usually Business Services or Finance • Retail • ICT or Computing • Apply directly • Very competitive • A great alternative to full-time university

6. Employment • Not easy to find at the age of 18 • Main employers: - Call centres - Banks - Retail - Insurance companies - Public services - Hospitality and Tourism Industry • Work experience and employability skills are important

7. Gap Year • Can be beneficial but needs careful planning • Sometimes taken from necessity rather than preference (A Level grades) • Can defer a university place for a year if already offered • Need a new UCAS application if left without a university place in August • Companies can help with travel or volunteering abroad: http://www.yearoutgroup.org/

8. Student Finance for 2014 Entry • Universities in the NI charge students tuition fees of up to £3575 per year. • Universities in England and Wales charge students tuition fees of up to £9000 per year • Scottish universities might charge students up to £9000 per year (some undecided, Scottish govt consultation) • NI students WILL receive student loans for higher fees in the rest of the UK • NI students going to RoI universities do notcontinue to have the €2500 registration fee paid but students can apply for a student finance NI loan

9. Applicants to Scottish higher education institutions with dual nationality - from 2013 entry For 2013 entry onwards, any new applicant who is a 'dual national' (a national of both another EU member state and the UK) will not be entitled to the regulated rate of fees ('home fees') at a Scottish institution and a tuition fee award from the Student Awards Agency For Scotland (SAAS), simply because of their 'other EU member state' nationality. Rather, in order to qualify for home fees and a tuition fee award as an EU student, the individual will have had to have exercised their right of residence in the EEA/Switzerland or have been resident in the non-UK EU member state of which they are also a national for at least three months.

10. Means-tested grants are available from the local Education and Library Board (ELB). You do NOT have to pay these back. • Student loans are available from the Student Loans Company via your local ELB. These do not need to be immediately repaid and the rate of interest is very low. • Extra financial help could be available from the university or college in the form of special bursaries – you find this out from the university in advance.

11. You can apply for a student grant and/or loan. This is done through ONE application form. PN1 Grants are divided into: • Maintenance Grants • Special Support Grants (SSG’s) A Maintenance Grant will depend on your household income

12. What this means for studentson EMA • £30 – you should be entitled to the full grant • £20 – most will be entitled to the full grant, however some might get just a very little less • £10 – this is a guess, but most would probably get at least £2,000 grant

13. Student Loans • Student Loans - Available to all Higher Education students, regardless of household income Loans are divided into: • Tuition Fee Loans • Maintenance Loans • You may borrow the full amount of the fees you are charged.

14. Maintenance Loan You may also take out a student loan for maintenance to help with living costs such as accommodation, food, clothes, travel and so on. Interest on the loan is linked to inflation and you do not need to pay anything back until you are earning over £15,795 a year.

15. Repayment of Loans • Tuition Fee Loans and Maintenance Loans added together • Repayments start upon leaving course and earning over £16,365* per year • Repayments are collected through PAYE • Repayment rate is 9% of earnings above £16,365 a year * • Loans are written off after 30 years

16. Repayment Example • Student who has finished University and is earning £19,365 pa. • Will pay 9% of £3,000 in a year = £270 • Monthly = £22.50 • Weekly = £5.19 • (Take home pay after Tax and NI = £280 a week)

17. How does the system work? http://www.studentfinanceni.co.uk • Parents’ section and Entitlement Calculator • Students can apply online or using the PN1 from Easter 2014 • PN1 available in school, with help to complete • Student Finance NI send a representative to schools in April • Deadline ismid April 2014 • Proof of ID and of income will need to be posted

18. http://www.studentfinanceni.co.uk

19. Confused Dot Com? Money Saving Expert Martin Lewis explains new tuition fees, loans and debt. The 20 key facts on fees, loans & grants everyone should know http://www.moneysavingexpert.com/family/student-loans-tuition-fees-changes

20. DON’T FORGET YOUR UCAS PARENTS’ GUIDE! http://www.parentadviser.co.uk/

21. Questions?