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Student Funding arrangements for 2012/13. Tuition Fees and Tuition Fee Loans Living Costs Loans and Grants Bursaries / National Scholarship Programme . Tuition Costs. Tuition fees are different at each University, usually between £6,000 - £9,000 per year.

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slide2

Tuition Fees and Tuition Fee Loans

  • Living Costs Loans and Grants
  • Bursaries / National Scholarship Programme
slide3

Tuition Costs

  • Tuition fees are different at each University, usually between £6,000 - £9,000 per year.
  • Fees will rise each year in line with inflation.
  • University of Portsmouth £8,500
  • University of Southampton £9,000
  • Winchester University £8,500
  • University of Surrey £9,000
slide4

Tuition Fee Loan

  • Tuition fees do not have to be paid upfront. Eligible Home (UK) and EU students can apply for a loan to cover these costs, whether they study part or full time.
  • Eligibility depends on residency status in the UK, and any previous study students may have done (either in the UK or elsewhere).
  • Loans are repaid after graduation, depending on income.
slide5

Living Costs Loans

  • Loans for living costs will be available for all eligible English full-time students.
  • Loans are partially income assessed.
  • Repayment terms are the same as the Tuition Fee Loan.
  • Different support for living costs will be available to students from Scotland, Wales and Northern Ireland.
slide6

Living Costs Grant

  • An income assessed grant for living costs will be available for all eligible English full-time students.
  • If you receive a grant you will receive a lower rate of living cost loan
slide7

National Scholarship Programme

  • For students from low-income households
  • Scholarships will be worth at least £3,000 and given to students in the form of tuition fee discounts and other benefits.
  • Each university will design its own scholarship scheme so you’ll need to check to see what the university you’re interested in attending is offering.
  • Institutions may have a limited number of scholarships available and may apply additional eligibility criteria.
slide8

University of Portsmouth Bursary

  • For full-time, English students
  • Numbers are not limited
slide9

Basic Student Support 2012/13 Summary

Students living away from home studying at Portsmouth

* Due to Tuition Costs discount in first year, £8,500 in all other years

studying outside england
Studying outside England
  • Wales
    • Tuition fees up to £9,000 depending on institution (loan available)
    • Living costs loan and grant available from SFE (if eligible)
    • Institutional support / bursaries unlikely
  • Scotland
    • Tuition fees up to £9,000 depending on institution (loan available)
    • Living costs loan and grant available from SFE (if eligible)
    • Institutional support / bursaries unlikely
  • Northern Ireland
    • Tuition fees up to £9,000 depending on institution (loan available)
    • Living costs loan and grant available from SFE (if eligible)
    • Institutional support / bursaries unlikely
studying outside england1
Studying outside England
  • Other EU countries
    • Tuition fees that match students from that country – i.e. if no fee charged to them, no fee charged to UK student
    • No living costs support from either country
  • Rest of the world (US, Australia...)
    • No support at all for fees or living costs
additional support
Additional Support
  • Disabled Student’s Allowance – helps with costs associated with disabilities or learning difficulties.

- up to £20,520 for a non-medical helper

- up to £5,161 for equipment

- up to £1,724 for general costs

  • Parent’s Learning Allowance – for students with children, up to £1,508
  • Childcare Grant – can cover up to 85% of childcare costs.
  • Adult Dependents Grant – for students with an adult child or partner who is wholly financially dependent on them, up to £2,642
slide13

Assessed household income

  • Students under 25 years old are classed as DEPENDENT
    • The income of both parents will be used for the assessment (10/11 tax year)
    • If parents have separated, the income of the parent that the student ordinarily resides with will be used
    • If that parent lives with a partner then their income will also be included.
slide14

NHS funded courses

  • BSc Radiography
  • BSc Dental Hygiene & Therapy
  • DipHE Operating Department Practice
  • CertHe Dental Nursing
  • Tuition fees will be paid by the NHS
  • Students can apply for:
    • A Living Costs Loan of £2,324
    • A non-means tested NHS Grant of £1,000
    • A means tested NHS bursary of up to £4,395 – depending on household income and number of weeks studied.
slide15

Estimated weekly living costs

based on current costs

Halls of residence £75 - £119

Private accommodation £70 - £75

Food and housekeeping £30 - £35

Utility bills £10 - £15

Other variable costs include:

Travel £5 - £10

Phone £5 - £10

Contents insurance £2- £3

Books and study equipment £350 (average per year)

TV Licence £145.50 (per year)

Social and leisure costs £25 - £35

You will also need to pay towards your accommodation before you get your student funding paid. This could be £200 advance rent for a room in halls, or a deposit plus possible fees for a room in a shared house, so try and save over the summer

slide16

When and how to apply

  • Apply online at www.direct.gov.uk/studentfinance
  • Or, fill in a paper application form, available on-line or from Student Finance England – 0845 300 50 90
  • Recommended application deadline is likely to be 31 May 2012
slide17

Loan Repayments

  • Loan repayments start the April after the student has left the course, only if they are earning over £21,000.
  • Graduates repay 9% of their income over £21,000.
  • Any outstanding balance is written off 30 years after entering repayment.
  • Interest rate will vary depending on earnings, between RPI and RPI+3%.
slide18

Loan Repayments

  • Repayment examples:
  • Earnings up to £21,000 – no repayments
  • Earnings £25,000 = £30 per month
  • Earnings £30,000 = £67.50 per month
  • Repayments are only based on graduates income (and are taken directly from salary)
  • Interest charges will vary based on income level – maximum = RPI + 3%
slide19

Case study: Josh

  • Josh starts work as an Administrator in London on a starting salary of £25,000
  • His take home pay is £1,613.50 a month
  • His initial repayments are £30 a month
  • He receives an annual pay rise of 3%
  • 29 years after graduation his salary is £58,914 and his monthly repayments are £284
  • After 30 years his outstanding balance is written off
  • The total Josh has repaid is £50,345
  • The total Josh borrowed was £47,500.
slide20

Case study: Paul

  • Paul starts work at a salary of £19,000 so he does not make repayments initially.
  • After 4 years his salary has risen to £21,320 so he starts to make monthly payments at £2.40 a month.
  • After 6 years he gets a new unpaid job a charity, so his repayments stop.
  • He goes back to paid employment 17 years after graduation, on a part-time basis. He earns £10,508 a year initially, so still does not have to make any repayments.
  • When Paul is 42 he starts working full-time again, with a salary of £21,653, making his repayments £4.90 a month.
  • After 30 years his outstanding balance is written off.
  • The total Paul has repaid is £3,701
  • The total Paul borrowed was £42,214.
slide21

Further information

  • www.direct.gov.uk/studentfinance
  • www.yourfuture.direct.gov.uk
  • www.direct.gov.uk/studentfinancecalculator
  • www.bis.gov.uk/studentfinance
slide22

Getting in touch

  • Drop in: Second Floor, Nuffield Centre, St Michael’s Road
  • Phone: (023) 9284 3014
  • Email us: student.finance@port.ac.uk
  • Web: www.port.ac.uk/money
slide23

Any

Questions?