Funding your part-time studies

A quick disclaimer… The information and figures from Student Finance are based on what we know for 2017 entry. The current system has only been confirmed for this year.

The Cost of Higher Education There are two main costs associated with studying in Higher Education: Tuition Fees Maintenance Costs

Student Finance England

Tuition fee loan - The tuition fee loan will cover however much the tuition fee is for that year - P/T – £4,625 - Available to all home and EU students - Can’t already hold a qualification equal to or higher than the one you wish to study for - Must be studying at a course intensity of at least 25%

Maintenance loans - Maintenance loans are due to be introduced for part-time students in September 2018 - We expect further details to be confirmed early in 2018

Applying for loans and grants FT/PT Applying for loans and grants Apply online from April/May

FT/PT Repaying the loans - Repayments start: - The April 4 years after you have started your course AND - When you are earning over £25,000 - Interest is charged - Anything unpaid after 30 years is written off - Repayments are based on what you earn not what you owe £25,000 household income threshold set to be confirmed in Autumn 2018

FT/PT Repaying the loans - You pay back 9% of anything you earn over £25,000. - Therefore if you earn £26,000; you repay 9% of £1,000 - £90 per year or £7.50 per month Your salary You pay back 9% of Monthly Pay (Net.) Monthly repayments £30,000 £5,000 £1,973 £37.50 £40,000 £15,000 £2,540 £112.50 £50,000 £25,000 £3,065 £187.50

Support from the University - This support is specific to the University of Sheffield - None of these awards have to be repaid - Awards will vary depending on your course

Sheffield Part-Time Bursary Scheme University Bursary on a pro rata basis – you must be studying a FTE of at least 50% within DLL

FT/PT Enhanced Bursaries All care leavers, student carers & students estranged from their families can apply for an enhanced bursary - Part-time students: £2,250

FT/PT Budgeting www.shef.ac.uk/moneytools

Benefits – part time students PT Benefits – part time students - As a part time student you can usually still claim benefits which depend on your household income (means-tested benefits), such as income-based Jobseekers Allowance, Housing Benefit and Local Housing Allowance - Your fee loan will not be treated as income when assessing any means-tested benefit

Further support Student advice centre advice@sheffield.ac.uk /0114 222 8660 Financial support team Financialhelp@sheffield.ac.uk /0114 222 1319

Useful links Support from the government https://www.gov.uk/student-finance Applying for student loans https://www.gov.uk/student-finance-register-login University funding Part-time within DLL https://www.sheffield.ac.uk/ssid/finance/dll/part-time

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