Aims of workshop. Deliver key finance/funding messages to young people Consider the wider issues around student funding and budgeting Understand some of the terminology Consider the “What if scenarios” Identify the help available so you can provide good IAG (Information, advice and guidance).
Student Funding offices
Access to learning fund
TFL – Non means tested
ML – Means tested
Can you afford to go to University?
Disabled student allowances
Can you afford not to think about going University?
Non-means tested – An award made without looking at household income
Means-tested – An award made following assessment of household income
Household income – The taxable income of the household in the 2013/14 tax year is used to determine how much financial support a student can receive. The figure is based on the financial information provided by a student’s sponsor (parent, husband, wife or civil partner).
Income related benefits – Income Support, income based Job Seekers Allowance, Income related Employment and Support Allowance, Housing Benefit, Council Tax Benefit, Pension Credit, Universal Credit
After 30 years, your loan will be written off, regardless of how much you have repaid.
Applications open in New Year
Apply online www.gov.uk/studentfinance
You will receive your maintenance loan and or grant to your bank account in 3 termly instalments.
Inform Student Finance England of a Change of Circumstances (CoC) redundancy, withdrawal, suspend, repeat, change course – mid-year
(but may not include bills)
Money pressures in an academic year.
Consider the impact of budgeting with only 3 pay days per year.