MEDICINE STUDENTS: FUNDING 201011

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MEDICINE STUDENTS FUNDING 2010/11

• HOME (UK) STUDENTS

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MEDICINE COURSES

• 5 Year Medicine Undergraduate
• 5 Year Medicine Graduate
• 4 Year Medicine

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WHAT FUNDING IS AVAILABLE ?

• Student Finance England
• NHS Funding
• University support
• Bank
• Part-time work
• Other

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STUDENT FINANCE ENGLANDEligibility

• To be eligible for support you must have
• Settled status
• 3 years ordinary residence in the UK
• Ordinarily resident in the UK

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STUDENT FINANCE ENGLANDWhat support is
available ?

• Tuition Fee Loan
• Maintenance Loan living cost support
• Extra Weeks Loan
• Maintenance or Special Support Grant
• Supplementary Grants Disabled Students
  Allowance/ Childcare Grant etc
• Travel Grant

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STUDENT FINANCE ENGLANDAssessment (2009/10
rules)

• All support except Tuition Fee loan and 72
  Maintenance Loan is income -assessed
• If under 25 normally assessed on parental
  household income
• If gross income less than c50,000 receive an
  element of Maintenance Grant

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STUDENT FINANCE ENGLAND5 Year Medicine
Undergraduate

• Student Finance England provides main funding for
  first four years of study
• Entitled to apply for all support except students
  who have studied for more than one year at
  University before
• After Year 4 receive reduced rate loan only

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STUDENT FINANCE ENGLAND5 Year Medicine Graduate

• Student Finance Direct provides main funding for
  first four years of study
• Not entitled to Tuition Fee loan or Maintenance
  Grant
• Student MUST pay own fees years 1 - 4
• Entitled to Maintenance Loan and Supplementary
  grants ONLY.
• After Year 4 receive reduced rate loan only.

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STUDENT FINANCE ENGLAND4 Year Medicine

• Student Finance England provides main funding for
  first year only
• Not entitled to Tuition Fee loan or Maintenance
  Grant
• Student must pay own fees year 1
• Entitled to Maintenance Loan and supplementary
  grants ONLY
• After Year 1 receive reduced rate loan.

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NHS FUNDINGEligiblity

• To be eligible for support you must have
• Settled status
• 3 years ordinary residence in the UK
• Ordinarily resident in England

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NHS FUNDINGWhat support is available ?

• Fee Grant
• Living Cost Bursary
• Supplementary Grants
• Travel Grant
• Disabled Students Allowance

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NHS FUNDINGAssessment

• Fee grant not means-tested
• Living cost bursary assessed on parental
  household income unless student can prove 3 years
  independent living
• If gross income less than c50,000 receive
  element of NHS Bursary

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NHS FUNDING What support ?

• 5 Year Medicine UG From Year 5
• 5 Year Medicine Graduate entry - From Year 5
• 4 Year Medicine From Year 2

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UNIVERSITY SUPPORTBursary

• Entitled to University Bursary if -
• Student receives an element of Maintenance
  Grant from Student Finance Direct AND
• Assessed income is less than c40,000
• 2009/10 Maximum Bursary 1319
• www.le.ac.uk/fees

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UNIVERSITY SUPPORT Hardship Fund

• Means-tested based upon students income and
  expenditure
• Often medics receive support from Hardship Fund -
  especially in Phase 2
• Non-repayable grant
• No fees must take up max. entitlements
• Application forms from Student Welfare once
  registered

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OTHER FUNDING

• Bank - Overdraft/Loan
• Benefits - Housing Benefit/Tax Credits
• Charities - BMA/EGAS
• You - part-time work/saving
• Family support

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USEFUL CONTACTS

• University of Leicester funding
• www.le.ac.uk/fees
• Student Finance England funding
• www.direct.gov.uk/studentfinance
• NHS Funding
• www.nhsstudentgrants.co.uk
• Student Welfare Service
• www.le.ac.uk/welfare
• email welfare_at_le.ac.uk

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EXAMPLE A-Gross income 30,000

• Years 1- 4
• Student Finance England support
• Tuition Fee loan to pay fees 3,225
• Maintenance Grant 1,906
• Maintenance Loan 3,997
• Years 3 and 4 will receive extra c1950
• University Bursary 400

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EXAMPLE AGross income 30,000

• Year 5
• NHS Funding
• Fee Grant
• Basic Bursary 2739
• Extra weeks allowance 1049
• Student Finance England support
• Reduced rate Maintenance Loan 1811

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EXAMPLE B-Gross income 30,000

• Years 1-4
• Student Finance England support
• Maintenance Loan 4,950
• Years 3 and 4 will receive extra c1955
• NO TUITION FEE LOAN
• NO GRANT
• NO UNIVERSITY BURSARY

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EXAMPLE B-Gross income 30,000

• Year 5
• NHS Funding
• Fee Grant
• Basic Bursary 2739
• Extra weeks allowance 1049
• Student Finance England support
• Reduced rate Maintenance Loan 1811

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EXAMPLE C-Gross income 30,000

• Year 1
• Student Finance England support
• Maintenance Loan 4,950
• NO TUITION FEE LOAN
• NO GRANT
• NO UNIVERSITY BURSARY

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EXAMPLE C-Gross income 30,000

• Year 2 4
• NHS Funding
• Fee Grant
• Basic Bursary 2739
• Extra weeks allowance 1049
• Student Finance Direct support
• Reduced rate Maintenance Loan
• Year 2 3 2324
• Year 4 1811