Student Finance Louise Carr School and College Services University of Leicester

Student Finance How it works & what you can get Case studies Budgeting and money management

Funding Student Finance Tuition Fee Loan Maintenance Loan Additional Support University of Leicester Scholarships

How to apply Apply through Student Finance England online – Means testing based on previous tax year (i.e. April April 2015) Can apply for “Current Income Assessment” if income changes (more than 15%) Link to UCAS application

Tuition Fees Will vary according to institution up to £9,000 per year Student Finance will provide full Tuition Fee Loans for eligible students Fees go directly to the university Students/parents do not pay fees – Graduates do

Tuition Fees at Leicester The standard tuition fee for all undergraduate courses at Leicester is £9,000 per year Foundation year - £6,000 Erasmus year - £1,250 Other year abroad - £1,000 Year in industry - £1,000 M Level degree final year - £7,000

Maintenance Support Maintenance loan Paid by Student Finance England to the student Means-tested based on household income Influenced by where the student studies –London –Staying at home –Elsewhere

Maintenance Loans/Grants Household Income GrantLoanTOTAL £25,000 or lessStopped in 2016£3,862£7,249 £30,000£0£4,335£6,776 £35,000£0£4,808£6,302 £40,000£0£5,282£5,829 £42,620£0£5,530£5,580 £45,000£0£5,343 £50,000£0£4,843 £55,000£0£4,343 £60,000£0£3,843 Over £62,132£0£3,610

Additional support Disabled Students’ Allowances –Additional grant Help for students with children –Childcare grant –Parents’ Learning Allowance Adult Dependants’ Grant Access to Learning Fund –Financial hardship

Recap on funding Student Finance Tuition Fee Loan Maintenance Loan Additional Support University of Leicester Scholarships

Scholarships at Leicester Chancellor’s Scholarship –£1,000 annual fee waiver –AAB at A-level (or equivalent) –Not including Medicine

Scholarships at Leicester – cont. Leicester National Scholarship Programme –£2,000 fee waiver in first year –£1,000 annual cash award Students from England who have academic ability and whose household income falls below £25,000 Latest scholarship information:

Loan Repayments Eligible to start repaying the April after graduation No repayments until you are earning above £21,000 Repayment = 9% of income above £21,000 Any outstanding repayments will be written off after 30 years

Loan Repayments - Examples There will be no penalty fees for early repayment SalaryAmount above £21,000Monthly repayment £21,000£0 £22,000£1,000£7.50 £25,000£4,000£30.00 £30,000£9,000£67.50 £40,000£19,000£142.50

Budgeting VariableFixed RENT/bills Academic Transport Food SOCIAL Clothing Toiletries Stuff

Budgeting

Will students have enough money? Part time job Full time job during the summer Parents/family/savings Student bank account Credit card?

Useful Websites University of Leicester funding & welfare pages: – NHS Bursaries: Student Finance England: Uni Aid (budgeting): Uni profiles + cost of living info: Martin Lewis: tuition-fees-changes tuition-fees-changes Careers advice and statistics:

Any questions?