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Student Funding

Student Funding. Gino Graziano Widening 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

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Student Funding

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  1. Student Funding Gino Graziano Widening Participation Outreach Manager

  2. 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

  3. 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

  4. Government funding for full-time UK undergraduates 2013 entry Maintenance grants available for UK students with family income below £42,611Living Cost loan dependent on incomeMax. living at home: £4,375Max. Studying outside London: £5,500Max. studying in London: £7,675

  5. 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

  6. Examples of possible weekly term-time income- based on 39 week accommodation contract period 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

  7. The cost of living (based on 2012 figures) Average weekly cost of living: Brighton -£210 Eastbourne - £190

  8. 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 Source: National Association of Student Money Advisers

  9. 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.

  10. 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.

  11. 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

  12. 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

  13. 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

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