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Student Funding 2011 and beyond

Student Funding 2011 and beyond. By the end of this session you will…. Know how full time undergraduate students apply for their funding Know where to refer students who may have queries Know where the main problems occur in relation to funding and finance

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Student Funding 2011 and beyond

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  1. Student Funding2011 and beyond

  2. By the end of this session you will…. Know how full time undergraduate students apply for their funding Know where to refer students who may have queries Know where the main problems occur in relation to funding and finance Know where to get more advice yourselves Know what’s new for 2011,2012 and beyond

  3. A helping hand You are not expected to know anything other than the basics – the University employs a team of specialist advisors and administrators – with insurance We cant see or speak to everyone!!! We need to make sure we are signposting appropriately and that everyone can give basic information

  4. eligibility Not straightforward but is roughly based on:- • Age – under 60 but only for maintenance loans Students under 18 must ‘ratify’ the loan once they become 18 • Residency – VERY COMPLICATED SO REFER! Broadly based on where students have lived before their course and if they have any restrictions on their stay in the UK • The course – all of our UG courses are eligible • If students have studied previously – regardless of where in the world that study was undertaken

  5. How to apply There is a drive to get all applicants to apply for their funding on line www.direct.gov.uk/studentfinance For 2011 returning students can apply from Feb 14th onwards – they will be reminded New students from 16th March Paper forms available on request – but there are benefits to the on line application process

  6. Tuition fees In 2011 FT UG fees are £3,375 – a fee is paid for each year Exception to this will be if student has studied previously Home and EU students can have a non means tested loan to cover all or part of their tuition fees if they choose This will be paid to LJMU direct – not the student

  7. Maintenance Loans £4,950 maximum for students living away from home £3,838 if living in parental home 28% means tested on household income Reduced by 50p for every £1 of Maintenance grant up to £1,453 – not SSG Paid to student in three instalments by Student Loans Company via BACS

  8. Maintenance Grant £2,906 for students with a Household income below £25,000 Partial grant if income between £25,001 and £50,020 Paid to students in three instalments by the SLC Loan substitution applies

  9. LJMU bursaries (don't confuse with NHS bursaries) LJMU will give a non repayable bursary to any student with an income below £25,000 Don't have to apply Can do what they want with it Can have one each year if eligible In 2011 the bursary will be £500

  10. NHS funding • No news about 2011 bursary rates yet • No news about changes after the longest review in history! • Move to an on line funding application process (like SFE) • Diploma courses being phased out • Degree funding • Half Student Loan (elsewhere) - £2,324 • Means tested NHS bursary (30 weeks elsewhere) £2,810 • £82 per week for any extra weeks • No parental contribution if income below £24,279

  11. LJMU Funds/support

  12. Access to Learning Fund (ALF) • Money from HEFCE to support vulnerable students – students with children, final years, PT, those that cant work due to a disability • Means tested • Non repayable • Can be used for loans if/when student funding is delayed

  13. Support for Care Leavers We are keen to support any Looked After Children (LAC) currently going on to study at university. Quality mark from the Frank Buttle Trust LJMU have a bursary of £1,000 per year for LAC and will provide a mentor and other support Named contact – Phil Bakstad Can arrange visits etc. prior to start On UCAS application Been given money from Yoko Ono

  14. 2012 and beyond.....

  15. Browne review not yet policy However..... • Fees bill has already been passed • HEIs can charge between £6,000 and £9,000 per year • Students can still have a loan to cover the cost of their tuition fees • No obligation for HEIs to pay a bursary • We will be under much closer scrutiny in relation to our provision for students such as contact time, accommodation, retention and progression etc.

  16. Maintenance grants and loans will still be available for the length of the course (revisiting monthly payments) • Repayment terms on loans will be changed – still very favourable but interest will be applied while the student is at university • The Government have plans to introduce a National Scholarship Programme (NSP)and signing up to this scheme will be a requirement of any HEI that wants to charge over £6,000 fees. • A menu of models of this NSP are being considered by the department including free 1st years, reduced accommodation and cash.

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