Tuition Fees and Bursaries 200607

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Tuition Fees and Bursaries2006-07
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Types of Financial Support
Tuition Fee Loans Maintenance Grants Student
Loan for living costs University of Essex Bursary
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Tuition Fee Loans
Eligible full-time undergraduates will not have
to pay fees before they start, or whilst they
are studying. Students will be able to
apply for a Tuition Fee Loan for up to the cost
of the course, per annum. The fees will be paid
direct to the University, on their behalf.
Students will repay these loans once they have
left university and are earning over 15k.
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Loans also available to existing students,
towards their maximum fee amount of
1200 Systems Admin and MIS will receive
information about how much money is due to the
University from Tuition Fee Loans and record the
amounts in each students record. If the
Tuition Fee Loan is for less than 3k, the
student will be invoiced by Finance for the
remainder during the Autumn term.
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Maintenance Grant
Non-repayable, means-tested Maintenance Grant
worth up to 2700 a year If household income
is - 17,500 or less they will receive the full
2700 grant - 17,501 TO 37,425 a partial grant
is payable   Approx 50 of new students are
likely to be eligible for a grant Grants are
payable in 3 instalments - at the start of each
term.
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The University does not administer any aspect of
the Maintenance Grant. Data files from SLC will
state whether a student is in receipt of a
grant, or not.
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Student Loans for Living Costs
Loan amount for Maintenance Grant holders will be
reduced by up to 1200 as part of the Maintenance
Grant is paid in substitution for part of a loan
reducing the debt for lower income students by
up to 1200 p.a.  The loan is repayable after
graduation when earnings reach more than 15k a
year. Repayments are linked to earnings. A
graduate earning 20k p.a. would repay 37.50 a
month.
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Systems Admin confirms registered status to the
SLC at the start of each year. Payments are
released three working days after the date of
Registration. The Student Enquiry Screen shows
that a students registration details were
returned to the SLC at the start of the year.
Remaining instalments depend on the students
continuing status.
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University of Essex Bursary
Bursary provision is required if we wish to
charge 3000 fees To minimise deterrent from
fees, students in receipt of maximum Maintenance
Grant of 2700 will receive a statutory non
repayable bursary of 300. The University is
offering discretionary bursaries to students
From low income households in addition to
awarding the statutory 300 bursaries.
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Bursary Amounts
Where household income lt 25k p.a. the University
provides a cash bursary to complement the
Maintenance Grant to provide total support
equivalent to 3000 p.a. Where household income
between 25k - 37,426 p.a. Both the Maintenance
Grant and University Bursary taper off on a
sliding scale. The maximum Bursary value is
1550.
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Bursary Administration
SLC provides a service to calculate bursary
amounts and make payments to students on our
behalf. University pays 3.75 per eligible
student per year. Bursary amounts are calculated
during the application cycle and notified to
applicants via SLC on joint SLC/Essex
paper. Systems Admin and Admissions can approve
and monitor bursary awards through an SLC portal.
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Bursary Administration
There will be a n audit of registered students
prior to the payment of bursary instalments.
The Bursary is paid in 2 instalments, in
February and May. Systems Admin will create a
file of eligible students for SLC to release
payments.
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Contacts
Bursary policy and rules Tom Barlow, Customer
Services Manager, Finance Section Tuition
Fees Lee Burton, Head of Income Payments,
Finance Section Student records Nicola Jackson,
Systems Administration