Financial implications of university

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Financial implications of university University
of Exeter Students Guild Advice Unit
Jo Thomas Michelle Jagger
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Whats this all about

• Expenditure
• - Fees and Living Costs
• Income Student Support
• - Grants
• - Bursaries
• - Loans
• Additional Income Sources

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Expenditure
Potential expenditure First year average costs
Term-time Accommodation (144 p/w average,
catered halls) 4465 Social Life 1085 Tuition
fees 3290 Books equipment 300 Clubs
Societies 190 Clothing 200 Housing/Damage
deposit 320 Lunches, coffees etc. (25 per
week) 775 Presents 150 Telephone Internet
(85 internet connection halls) 300 Toiletries
Haircuts 125 Travel Home 150 TV
Licence 150 ----------------------------------
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----------------------------- TOTAL 11,500
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Income

• Main sources of income
• - Maintenance Grant
• - Bursaries
• - Maintenance Loan
• - Tuition Fees Loan

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Application Assessment

• Loans Grants
• September onwards with UCAS
• Assessment by Student Finance England (SLC)
• On-line application
• Means-test household income
• Bursaries
• University specific

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Maintenance Grant / Special Support Grant

• Up to 2,900 pa
• Full grant household income of 25,000
• or less
• Some support household income of
• up to approx 50,000

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Bursaries

• University specific
• Exeter Specific Bursaries
• UK Access to Exeter bursaries
• - 1500 per year - Household income up to
  25,000
• - 750 per year Household income up to
  35,000

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Maintenance Loan

• 2010/11 approx. between 3,500 - 4,950
• - Per year, living away from home studying
  outside of London
• Or, 2010/11 approx. between 2,400 - 3,850
  
• - Per year, living at home studying in or
  outside London
• Difference depends on
• how much Maintenance Grant you are eligible for
• and how much your household income is

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Tuition Fees Loan

• 2010/11
• - Tuition Fees Up to 3,290 pa
• (with some exceptions, e.g. certain courses,
  institutions
• or studying part-time)
• ALL UK/EU students
• - can take out a tuition fees loan,
• regardless of household income

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Repaying Tuition Fees Maintenance loan

• When?
• After leaving course earning 15,000 pa.
• How?
• Deductions directly from wages, like tax NI
• How much?
• 9 of earnings over 15,000 pa.
• (22.50 per month _at_ 18,000)
• (75 per month _at_ 25,000)
• Interest rate linked to the rate of inflation
  (RPI)

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Additional Income Sources

• Earnings (Vacations Term-time)
• Parental contribution
• Bank overdraft
• Other Savings
• Scholarships/Bursaries
• Sponsorship
• Trusts Charities
• Access to Learning Fund
• Also, benefits available to students with
• other responsibilities

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Additional support for

• Students with disabilities
• - Disabled Student Allowance
• Students with children or dependents
• - Parents Learning Allowance
• - Childcare Grant
• - Adult Dependence Grant
• - Child Tax Credit
• Also, Part-time study grants and grants/bursaries
  for
• students studying particular courses
• (e.g. Teaching Health courses)

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Exeter Scholarships

• Jubilee Science Scholarships - 2000 pa
• Millhayes Science Scholarships - 1000 pa
• Up to 25 scholarships for students in
• - Biosciences
• - Computing
• - Engineering
• - Geography (BSc programmes only)
• - Geology
• - Mathematics
• - Mining Engineering
• - Physics
• - Renewable Energy
• Vice-Chancellors Excellence Scholarships - 5000
  pa
• Up to 10 awards. For students predicted 3 A
  Grades at A-level or equivalent and
• who demonstrate achievement and potential in at
  least one of the following areas
• Volunteering

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Exeter Scholarships continued

• Camborne School of Mines Scholarship Up to
  2000 pa
• Sports Scholarships over 30 awards,
  accommodation or sporting
• Expenses
  up 1000 PA
• Music Scholarships over 40 awards, including
  Choral Organ
• Year Abroad Travel Bursaries 4 year Modern
  Language Students
• Travel Bursaries for field trips Project Work
  (Cornwall campus only)
• Subject Specific Bursaries Inc. Bioscience,
  Engineering,
• Computer Science, Internet Computing,
  mathematics, Geography
• Camborne School of Mines
• Subject specific for international Students
• Including Law, Business Economics,
  Engineering
• Computer Science Mathematics, Sport and
  Health
• Camborne school of Mines

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Thank you for listening
Any Questions? Joanna Thomas Michelle
Jagger University of Exeter Students Guild