Student Finance

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Student Finance
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What do you have to pay for?

• Fees
• Living Expenses

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Fees

• What do they cost?
• Universities and colleges of Higher Education can
  now charge up to 3145 a year

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FeesWhat help can I get?

• Student Loan for Tuition Fees

• Scholarships
• Sponsorships
• Bursaries

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Student Loans for Fees

• How is this paid?
• Paid direct to the college/university by Student
  Finance England

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Loan Repayment

• How do I pay the Loan back?
• Repay after you graduate and earn over 15,000

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Repayments

• Repay at 9 of income over 15,000 threshold (for
  example, with a salary of 20,000 you would pay
  back 37.50 per month)

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Repayment Holiday

• Those starting repayments in April, 2012 or later
  will be eligible for a repayment holiday of up to
  5 years.

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Repayment Holiday

• Only the payments will be put on hold, the
  interest (linked to inflation) will continue to
  accrue

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Loan Write Off

• Any student loan balance left unpaid 25 years
  after they have left their course (or maximum of
  30 years where a full repayment holiday has been
  used)

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Bursaries

• Non-repayable support offered by the
  university/college
• Amounts vary typical bursary is 1000

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Bursaries

• Additional to Government support
• www.direct.gov.uk/bursarymap

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University of Manchester - Bursary

• The award 1,000 a year (includes the minimum
  standard bursary of 300 for students who are
  receiving maximum state support)

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• Who is eligible
• All UK students with an annual household income
  of up to 27,120.

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Scholarships

• Scholarships may be awarded by a university or
  college, a business or charitable body.

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Scholarships

• They are generally awarded to students who
  demonstrate or show promise of high achievement
  in certain areas

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Such as

• academics, athletics, music, art or other
  disciplines.
• www.support4learning.co.uk/money/

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University of Kent Scholarships

• Academic Scholarships
• Partner Scholarships

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• Partner scholarships are offered by the
  University to encourage local students to
  continue in Higher Education and are available to
  pupils from Partner schools and colleges.

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• The University of Kent offers 25 academic
  scholarships of 1000 - awarded on the basis of
  academic excellence.

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University of Manchester

• Sports scholarships
• Supports individuals to excel in their sporting
  and academic achievements

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How Much?

• The level of support is dependent on the level of
  performance but ranges from 200 to 2,000.

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Sponsorships

• Assistance with university expenses offered by
  companies

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Sponsorships

• Amounts offered can vary from company to company
• Application is to the company by CV and covering
  letter

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Living Expenses

• What help can I get?
• Maintenance Grant
• Student Loan for Living Expenses

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• Special Support Grant
• Other Grants
• Bursaries

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Maintenance Grant

• Further information
• www.direct.gov.uk/studentfinance

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If your household income is

• 25,000 or less full grant (2835 pa)

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If your household income is

• Between 25,000 and 60,005 partial grant.

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If your household income is

• Over 60,005 no grant, but you will be
  entitled to take out a student loan.

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Student Loan for Living Expenses

• To help with living costs
• Attract low rate of interest (at inflation levels)

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Amount of loan depends on

• Where you are studying
• Whether you will be living at home or not

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Amount of loan depends on

• Your household income
• The amount of Maintenance Grant you receive

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Special Support Grant

• A non-repayable grant of up to 2835 for new
  full-time students eligible to receive Income
  Support and other means-tested benefits

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Special Support Grant

• Based on the households income
• Students eligible for the grant will not be
  eligible for the Maintenance Grant

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Special Support Grant

• Any Maintenance Loan received will not be reduced
  to take account of this Grant

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Childcare Grant

• For full-time students with dependant children in
  registered and accredited childcare

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How much?

• Up to 148.75 per week for your first child and
  255 per week for two or more children

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Childcare Grant

• The amount payable to you depends on your
  household income and actual childcare costs

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Parents Learning Allowance

• Provides help with course-related costs for
  students who have dependant children

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How much?

• Up to 1470 a year depending on household income

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Adult Dependants Grant

• Amount payable depends on your household income
  and the income of your adult dependants

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How much?

• Up to 2575 a year for full-time students with a
  husband, wife, partner or another adult family
  member who depends on you financially

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Travel, Books and Equipment Grant

• For students up to the age of 55 with dependant
  children, you may be entitled to support these
  costs.

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How much?

• Up to 500 to help with these costs. This grant
  will not be counted by Jobcentre Plus when they
  calculate any benefit entitlements.

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Disabled Students Allowances

• For Full or Part-time Students having to meet
  additional costs due to either a disability, a
  mental condition or a specific learning
  difficulty.

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What is available?

• General Disabled Student's Allowance (up to 1680
  per year)

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What is available?

• Specialist Equipment Allowance (up to 5030 for
  the whole course, the money must be spent only on
  equipment)

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What is available?

• A non-medical personal helper allowance (up to
  20,000 per year to pay for a helper)

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What is available?

• Travel costs arising from the student's
  disability.

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Part-time Students

• Fee Grant
• Help with course costs

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Fee Grant

• This non-repayable grant will be up to 1180
  (based on household income). Students must be
  studying at a rate of 50 or more of a full-time
  equivalent course.

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Help with course costs

• A non-repayable grant of up to 255 is available
  (based on household income) to help meet the cost
  of books, travel and course expenditure.

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Access to Learning Funds and Access Bursaries

• Who?
• What?
• How?

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• Available directly from universities to help
  students from lower income households with little
  financial support who face financial difficulty
  during their study.

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• Full-time students and part-time students whose
  study equals 50 per cent or more of full-time
  study can apply.
• Payment may be as a (non-repayable) grant or a
  short-term repayable loan.

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Hardship Funds and Hardship Loans

• Who?
• What?
• How?

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• Hardship Loans of up to 500 (available direct
  from the University/College) are only available
  to students who have already received the first
  instalment of their student loan and then find
  themselves in difficulties.

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• Hardship Funds are for students who have higher
  than expected costs and have usually already
  received a Hardship Loan.
• Payments from the Hardship Fund can range from
  100 to 3500.

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Getting this money

• PN1 form
• Apply online at www.studentfinancedirect.co.uk

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PN1 Forms Continued

• send in a paper form
• Large print forms also available on request
• Deadline

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Further Information

• www.ucas.com
• www.studentfinancedirect.co.uk
• www.aimhigher.ac.uk

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• www.direct.gov.uk/educationandlearning
• www.direct.gov.uk/studentfinance
• www.direct.gov.uk/bursarymap

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Further Information

• Dawn Chapman
• Janet Reynolds
• Victoria Perks
• aimhigher_at_cant-col.ac.uk

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College Surgeries

• Every Tuesday 12.30 p.m. 1.30 p.m. LRC top
  floor