Student Finance Matt Wetherill Schools and Colleges Liaison

STUDENT FINANCE What's available? Key Facts Budgeting

INTRODUCTION Tuition Fee Loan Repayment Maintenance Loan

TUITION FEES Key facts Students can get Tuition Fees paid.* Not all HE coursescost the same. Gets paiddirectly to your Uni.

TUITION FEES Q What’s the maximum tuition fee universities or colleges can currently charge new students? Q How much of this would you need to pay up front before going to uni or college? A £9,000 A £0 Q Where does your Tuition Fee go? A To your University

MAINTENANCE LOAN Key Facts All students get some support. The amountget dependson whereyou live andstudy. Gets paiddirectly to you.

MAINTENANCE LOAN Accommodation Food shopping Socialising Course materials Helping you cover your living costs as a student Amount received depends on household income

MAXIMUM LEVELS FOR 2016/17 London Live away from home & study in London Up to £10,702 £ Elsewhere Live away from home & study outside London Up to £8,200 £ Parental home Live at home while you study Up to £6,904 0

HOUSEHOLD INCOME SFE will need details of your taxable income and National Insurance number. Parent of a student and live with your partner, they’ll also have to give us details of their taxable income and National Insurance Number. Taxable earned income includes*: wages, salaries, tips, and other taxable employee pay long-term disability benefits received prior to minimum retirement age net earnings from self-employment Taxable unearned income includes*: interest from savings (only the annual summary is required) benefits and pensions rent from property or a room

REPAYMENTS Key Facts No repayments until youve finished You pay 9%of anythingover £21K Must be earning over £21,000

REPAYMENTS Key Facts Any drop under £21K repayments stop Outstandingbalancewritten offafter 30years Comes directly out of your wage

REPAYMENTS Income each year before tax 9% will be deducted from Monthly repayment (Approx) £21,000£0 £30,000£9,000£67 £40,000£19,000£142 £50,000£29,000£217 £60,000£39,000£292

STUDENT LOAN REPAYMENTS Q What will your student loan repayments be based on? Q How much do you need to earn before you start to repay? A a) Your future income A b) £21,000 a year

BURSARIES Linked to personal circumstances Awards can bemoney offTuition,accommodationor cash! For example household income and WP background

SCHOLARSHIPS Can be linked to academic results These can besubject specificand are usuallylimited innumbers Or possibly excellence in certain s areas such as sport or music

DEPENDANTS, DISABILITIES AND NHS BURSARIES Other financial help and support may also be available if you: have children or an adult dependent on you have a disability, including a mental-health condition or specific learning difficulty study an NHS or Social Work course NHS courses include: nursing, midwifery, physiotherapy, speech and language therapy, dietetics, radiography, the later stages of medicine and dentistry up to students starting 2017

STUDENT FINANCE APPLICATIONS A b) Q When should you apply for your student finance? Q What is the easiest way to apply for your student finance? A c) As soon as possible

KEY MESSAGES Apply early You applyevery yearyou are atUniversity You don't need a confirmed place at University

MANAGING YOUR MONEY HOW MUCH? New £36.14 Used £26.24 ? ?

MANAGING YOUR MONEY HOW MUCH? Q What is the average weekly cost of student accommodation? University-owned accommodation (Figures from NUS) £ including privately-owned student accommodation £ ?

KEY POINTS TO REMEMBER We hope you will take away and remember a few of the key points from this session... It’s important you make the right university/college and course choice. Tuition Fee Loans are available to all eligible students. Research all finance available – especially bursaries & scholarships. Apply online & on time – no need to wait for a confirmed place.

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