Investing in your future
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Investing in your future. An overview of the outgoings and income support available. Aimee Ellis Student Finance Outreach Officer. Increase of 7.8% across the sector Including a 12.6% increase in mature students Graduates have a higher earning potential.

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Investing in your future

Investing in your future.

An overview of the outgoings and income support available

Aimee EllisStudent Finance Outreach Officer


Investing in your future

  • Increase of 7.8% across the sector

  • Including a 12.6% increase in mature students

  • Graduates have a higher earning potential

Graduates earn over £100,000 more than those who enter work straight from A Levels

School Leaver - £11,000

Graduate - £20,000


Student finance england

Student Finance England


Nhs bursaries

NHS Bursaries

  • Some healthcare courses do not carry fees and have large NHS bursaries available.

  • Over £7,000 available in some areas

  • Contact the Student Grants Unit of NHS for more details on 01253 856123


What happens next

What happens next?

Enter UCAS application

Push these details

through to Student

Finance England

Receive final HE finance offer

Confirm final course choice

Complete Student Finance

application

Receive provisional offer


Student finance information

Student Finance Information


Overview of finances

Overview of finances

Incoming

Tuition Fee Loan

Maintenance Loan

Maintenance Grant

Bursaries

Scholarships

Wages & Parental Support

Outgoing

Tuition Fees

Accommodation

Living Costs

Course Resources


Tuition fees

Tuition Fees

Up to £3,290 per year*

  • UK and EU students

  • Does not have to be paid prior to study

  • All students can apply for a Tuition Fee Loan

* Some courses are sponsored


Tuition fee loan

Tuition Fee Loan

  • Non-Means Tested

  • Paid directly to the University

  • Low interest rate, set at rate of inflation

  • Repayable after graduation and when earning at least £15,000

  • 9% repayment of your annual income


Overview of finances1

Overview of finances

Incoming

Tuition Fee Loan

Maintenance Loan

Maintenance Grant

Bursaries

Scholarships

Wages & Parental Support

Outgoing

Tuition Fees

Accommodation

Living Costs

Course Resources


Typical accommodation costs

Typical Accommodation Costs

Average UK rent for university owned accommodation = £81 per week

£3159 per year (bills included)

Average UK rent for privately owned accommodation = £60 per week

£2340 per year (bills not included)

*Figures from NUS and Accommodation for Students

14


Typical accommodation costs1

Typical Accommodation Costs

Scotland = £73 pw

Edinburgh = £ 68 St. Andrews = £82

North East= £40 pw

Sunderland = £44 Durham = £67

North = £58 pw

Liverpool = £50 Leeds = £62

South East= £72 pw

Southampton = £62 Brighton = £72

London = £102 pw

15

*Figures from NUS and Accommodation for Students


Investing in your future

A basic room in our Wessex Lanes Halls costs £65.45 pw

£2552.55 per year

16


Investing in your future

An en-suite room in our Glen Eyre Halls costs £96.95 pw

£3781.05 per year

17


Investing in your future

The Galley Restaurant – Connaught Hall

Most halls are self-catered with shared kitchens

Self-catered kitchen in halls

You can have catered facilities. These are typically £30-£40 a week in addition to your rent

18


Maintenance grants non repayable

Maintenance Grants – non repayable

Income over £50,021:

n/a

No maintenance grant payable

£1,292 to £50

Income between £35,000 and £50,020:

Receive some grant

£2,824 to £1,292

Income between £25,001 and £34,999:

Receive some grant

Income up to £25,000:

£2,906

Receive full grant


Maintenance loan

Maintenance Loan

An additional loan to help with living costs

  • Available to home students

  • Paid into your bank account in three instalments

  • How much you can borrow depends upon:

  • How much Maintenance Grant you receive

  • Assessed household income (28% income assessed)

£4,988

£2,763

£3,564


Studying outside of london not in parental home

Studying outside of London, not in parental home


Investing in your future

Minimum Support

£4,950

Minimum Loan (£3,564)

+

Parental Contribution (£1,386)

39 weeks

=

£127 per week

Maximum Loan


Overview of finances2

Overview of finances

Incoming

Tuition Fee Loan

Maintenance Loan

Maintenance Grant

Bursaries

Scholarships

Wages & Parental Support

Outgoing

Tuition Fees

Accommodation

Living Costs

Course Resources


Bursaries

Bursaries

All HEIs charging full tuition fees (£3,290) and all students entitled to the full Maintenance Grant (£2,906) will get a bursary of at least £329.

http://bursarymap.direct.gov.uk


Bursaries1

Bursaries

University of Southampton UK Bursary

  • Household income below £25,000 or less = £1,200 bursary

  • Household income £25,001 - £35,000 = £600 bursary


Hampshire and isle of wight bursary 1 000

Hampshire and Isle of Wight Bursary - £1,000

  • A new, full-time UK undergraduate student

  • Living in or studying at a sixth form or further education college with a Hampshire/Isle of Wight postcode

  • A UK resident (excluding the Channel Islands and the Isle of Man)

  • Living in a household with a total income of less than £35,000

  • Not already receiving an NHS bursary


Scholarships

Scholarships

Each University offers different rewards in the form of Scholarships.

The University of Southampton offer over £1 million to the most talented students in all subject areas.

For example:

Sports Scholarships of up to £3,000 are offered for entrants with outstanding sporting abilities.

Art – All first years students given £100 to purchase art materials. A £500 progression scholarship is granted to those that show the most outstanding improvement in their development.

Biological Sciences - 15 scholarships of £2,000 to new students based on pre-university qualifications


Disabled students allowances dsas

Disabled Students’ Allowances (DSAs)

Stef Webb

CELT Partnership Co-ordinator

Tel: 023 8059 9026

Email: [email protected]

Website: www.southampton.ac.uk/studentsupport

Dyslexia

Depression

Mental Health

  • Non-means tested allowances to meet ADDITIONAL costs

  • £5,161 for specialist equipment: £20,520 for non-medical help

  • Requires a full eligibility assessment

Autism

Physical Disabilities

Aspergers Syndrome

Complete DSA 1

form

Get a copy of any

medical evidence

and send to SFE

Await reply from SFE

relating to your

eligibility

Book appointment with

Stef for a needs

assessment


Repayment in real terms

Repayment in real terms

Average Graduate salary = £20,000

Monthly repayment = £37.50

  • 10-15 years to repay

  • Graduates can take up to 5 years worth of loan breaks

  • Interest linked to inflation

  • After 25 years, all debt is wiped clean


Top tips

Top tips

  • Go shopping!

  • Visit the bank!


Student bank accounts

Student Bank Accounts

£2,000

Buffer: not a target!

One year to repay after graduation

£2,000

£2,000

£3,000


Top tips1

Top tips

  • Go shopping!

  • Visit the bank!

  • Check your contents insurance!

  • Get a TV License


Investing in your future

Remember if you’re going to take a television you’ll need to pay for a licence. A colour license is £142.50 for a year.

£1,000

You can claim back the cost for the summer months you won’t be using the license for. Visit www.tvlicensing.co.uk


Other outgoings contents insurance

Other Outgoings – Contents Insurance

A real essential. This can be as little as £2 per week to protect all your possessions.

Some Halls of Residence fees include basic cover which you should consider topping up.

Parents/guardian to check their home insurance policy as some policies can insure family members living away from home.

34


Summary

Summary

  • All students can take a full tuition fee loan

  • Tuition Fee Loan and Maintenance Loan are the only sums to be repaid

  • Loans only repaid after graduation and in employment earning at least £15,000

  • Grants, bursaries and scholarships are non-repayable


Aimee ellis student finance outreach officer a r ellis@southampton ac uk tel 023 8059 9670

Aimee EllisStudent Finance Outreach [email protected]: 023 8059 9670


Interesting statistics

Interesting statistics

87% of all students take student loans (NUS)

50% of all students benefit from grants (NUS)

42% of all students benefit from bursaries or scholarships (OFFA)

45% students not worried about the loan (NUS)

61% see student finance as a normal part of the student experience


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