Presentation Transcript

1. Student Finance 2014/2015
2. Contents Full-time Higher Education Eligibility Financial Support Exceptions How to apply for support What happens next? Repayments Part -time Higher Education support Further Education support
3. Eligibility There are three main criteria: Be personally eligible – have lived in the UK and Islands for at least 3 years before the start of your course and living in Northern Ireland on the first day of the academic year in which your course begins Must attend an approved college – a publicly funded University or College in the UK or ROI or certain private colleges Must attend an approved full-time course – degree, HNC, HND, Foundation degree
4. Financial support Tuition fee loan All eligible students can take out a loanfor the amount charged by a public institution (NI institutions £3685 per year, remainder of the UK max £9000 peryear) Courses at private institutions in England, Scotland or Wales will only attract £3685 fee loan and balance of amount charged is payable by the student Fees paid direct to your institution by SLC No income assessment involved Pay back when you are earning more than £16,910 per year
5. Financial support Maintenance Loan Max £6,780 if living in London (NMT £5085) Max £4,840 if living away from parents’home and studying outside London (NMT £3630) Max £3,750 if living at home (NMT £2812) Maintenance loan is means-tested The loan is reduced if you receive a Maintenance Grant or Special Support Grant
6. Financial support Maintenance Grant/Special Support Grant Non-repayable grant for students from low income households (< £41,065) Full grant where household income < £19,203 Worth up to £3,475a year – depending on household income SSG is available to students who are eligible for income support or housing benefit (benefits not reduced)
7. Financial support Study in the ROI There is a student contribution charge of €2750 instead of payment of fees by Student Finance. Students must complete a SCL form (available on request) to access a student contribution loan to cover this amount No reduction in fees if a student leaves before the end of the year Eligible for the standard living cost support of means tested maintenance grant and loan Transfer or repeat students may be charged full tuition fees (no loan available)
8. Financial support Extra Help with Living Expenses Parents’ Learning Allowance Childcare Grant Adult Dependants’ Grant See application form or contact Student Finance for further details
9. Financial support Disabled Students’ Allowance A range of help available which is not means-tested on household income Specialist equipment allowance of up to £5,266 for the whole course Non-medical helpers’ allowance of up to £20,938 per year General allowance of up to £1,759 per year Extra travel costs as a result of the disability Contact the Disability Adviser at your institution for an assessment of what support you will require.
10. Financial support Help from your Institution Bursary – NI institutions Non-repayable grant for students who are in receipt of full (or in some cases partial) Maintenance Grant or Special Support Grant No separate application involved – eligibility determined through your Student Finance application Parents must give consent to share on application form Each institution offers different amounts of support Similar support throughout the UK – contact institution for details.
11. Financial support Student Finance NI assesses householdincome based on: Your gross taxable income (excluding any earnings during term-time and holidays); PLUS Gross taxable income of parent(s) / partners / step-parents; LESS Deductions for payments into pensionfunds and £1,153 for each other dependentchild in the household This does not apply to Independent students
12. Financial support
13. Exceptions Health Professional degrees in NI – income assessed bursary of £2355, reduced loan of £2370 and Tuition fees paid in full Health Professional degrees elsewhere in UK – reduced loan and NHS bursary (amount may be small) Nursing degrees in NI and Scotland– not eligible for any funding from SFni Nursing degrees in England and Wales – reduced loan and NHS bursary Nursing diploma students - not eligible for support Social Work degrees in NI – additional funding from DHSSPS of non-means tested grant and contribution towards work based learning expenses
14. How to apply Application forms available from school or your local Student Finance NI office or download an application form at www.studentfinanceni.co.uk Complete form fully and return to your local Student Finance NI office Pay correct postage (1st class not sufficient) Apply as soon as possible and check your application online EU Students should apply to the EU Team in Darlington
15. How to apply Information required You must provide the following information with your application form – Original UK Birth certificate or valid Passport. A Birth certificate mustbe accompanied by an identity confirmation form National Insurance Number Your bank account details Details of your income and that of your household
16. What happens next? Application acknowledged and you receive Customer Reference Number (EMA students retain same number –contact SLC for password to access on-line services) ↓ SFni determines whether you are eligible for support and amount due ↓ SLC sends notification of how much support you will receive and when ↓ Take your notification to University at enrolment stage ↓ Your University confirms enrolment ↓ SLC pays your support each term by BACS
17. What you must do Tell SFni of any change in your circumstances as this may affect your entitlement e.g. Name / marital status Address (home / lodging) Course transfer / Suspension / Withdrawal from course / college. Absence / sickness Reduction in parents’ income (Changes can be made on-line) Inform your institution of absences / sickness / proposed change of course
18. Things you need to know If you leave your course during the year you will still be required to pay fees. The amount depends on when you leave If you are on a placement / abroad as part of your course you may not receive any support other than a reduced loan (ask SFni) If you follow a full-time HND/Foundation degree course and move on to year 1 of a degree course you will not receive a Tuition fee loan or a maintenance grant for year 1 of the degree If you change course/repeat a year more than once you may have to self-fund part of your course If you need to repeat a year due to illness you may be eligible for an extra year’s support If you receive a grant and your entitlement is reassessed to a smaller grant/no grant at all – the SLC will demand repayment from you immediately You must reapply each year to get support If there is a drop in household income your support may be reassessed
19. Repayments Repay You only repay Student Loans (Fees and maintenance) once you have left your course and are earning over £16,910 a year Repayments are based on what is earned, e.g. earnings at £25,000 pay back £61 a month Loans incur interest charges (current interest rate is 1.5%) Balance is cancelled after 25 years Keep You do not repay any grants received unless you withdraw from your course or a re-assessment is required
20. Additional information By telephone on: 0300 100 0077 By post or personal visit: Student Finance NI 3 Charlemont Place The Mall, Armagh, BT61 9AX Visit our web site at: www.studentfinanceni.co.uk A Guide to financial support booklet
21. Part-time support HE part-time courses must be at least one year’s duration and at least 50% of a full-time course. Support for eligible students will consist of: A means-tested Tuition fee grant of up to £1,230 A means-tested grant of up to £265 Disabled Students’ Allowance
22. FE Awards For certain lower level courses Payment of approved Tuition fees A means-tested maintenance grant Closing Dates: Full time - 1 September 2014 Part time - 30 September 2014 Guaranteed funding where fully completed applications are received by 30 June 2014. Apply to: Student Finance NI Further Education Awards Section 1 Hospital Road Omagh Telephone: 028 8225 4546 Email: feawards@welbni.org
23. Further information Student Finance NI has endeavoured to detail every aspect of the application process and possible funding available to students entering Further/ Higher Education. If you have any questions that are not covered in this presentation please ask!