Student Finance

1
Student Finance

• Higher Education
• 2006/7

2
Whats Involved

• Eligibility
• Financial assistance available
• The student loan/ repaying the loan
• How to apply
• Contact details

3
Do I Qualify?

• You must have been ordinarily resident for 3
  years in the UK before the start of the course,
  and have settled status.
• You must be studying on a designated full-time
  course (e.g. HND,BA,BSc etc)
• You must be studying at a publicly funded
  institution or a specifically designated
  institution.

4
What assistance is available?

• Tuition Fees
• Higher Education Grant
• The Student Loan
• Disabled Students Allowance (DSAs)

5
Income Assessment

• All elements of financial support are income
  assessed except 75 of the loan and DSAs.
• Household income for previous tax year (ending)
  March 2006, and any unearned income you have may
  be included.
• Allowances made for other children in family.
• Ready Reckoner available on Student Finance
  Direct website.

6
Tuition Fees

• Maximum Tuition Fees 3,000
• A tuition fee loan is available to all students
  regardless od household income.

7
The Student Loan
8
Repaying the Student Loan
9
Advantages of going to University

• New Skills/ Independence
• Gain a good qualification
• Better prospects
• Less likely to be unemployed

• Typical starting salary for graduate recruit is
  20,000.
• Having a degree increases the lifetime salary
  expectation by an average of 400,000

10
How to apply

• You will be able to apply online from April 2004
  via the website www.studentfinancedirect.co.uk
  Or
• Your Local Education Authority (LEA) will have
  application forms available from March 2007.

11
Application Process (1)

• Submit application with birth certificate and
  proof of household income or
• Apply on-line. A summary sheet will be sent for
  signature and return with birth certificate and
  income proof.
• Apply by July 2007.

12
Application Process (2)

• LEA approves assesses application.
• Customer Support Office, sends out letters and
  payment schedules by April
• Higher Education institution registers student
  and notifies Student Loan Company (SLC).
• SLC makes the first payment by BACS transfer.

13
Disabled Student Allowances

• This allows students with a disability to receive
  additional financial support
• Each University has a Disability Officer or
  Access Centre, who will assess needs.
• Typical assistance may be a PC printer and
  dyslexia support lessons for a dyslexic student
• To apply tick the box on the student finance
  application form
• DSAs are not means tested

14
Access to Learning Fund

• Additional help is available through your
  institution to assist students in financial
  difficulties.
• Emergency payments can be made.
• Access to Learning Funds are not repayable.

15
NHS Bursary

• Students on paramedical courses e.g
  Physiotherapy, Chiropody can receive a bursary
  from the NHS covering Fees and living costs.
• Means-tested bursaries can be supplemented by a
  reduced rate loan (50) not means-tested.
• Apply for the loan through the LEA.

16
Contact details

• Student Finance Section
• Sheffield City Council
• Education Directorate
• Floor 3, Howden House
• 1 Union Street
• Sheffield S1 2SH
• Tel [phone] or 2735796
• E-mail studentfinance_at_sheffield.gov.uk
• Website www.sheffield.gov.uk