Student Finance for Higher Education Courses

What support is available to undergraduate students? Tuition Fee Loan Maintenance Loan Dependants Grants Disabled Students’ Allowance

Tuition Fee Loan Capped at £9,250 for full-time students Capped at £6,935 for part-times students The payments go directly to your institution – can be either a university or a university centre in a college The loan is non-means tested and the government will cover the full cost of the course, provided it does not exceed the above amounts Undergraduates get 4 years of funding from Student Finance England for their tuition fees For students studying medicine, 4 years are covered by the tuition fee loan, years 5 and 6 are funded by the NHS This loan is repayable

Maintenance Loan Student Finance England provide financial support for students to help with the cost of living The payment is split into 3 instalments The loan amount is dependent on where you live and study The higher amount of student loan is means-tested – they will ask for evidence of your parents income to assess your application This loan is repayable

Maximum loan for courses from August 2017 Maintenance Loan Full-time student Maximum loan for courses from August 2017 Parental home Up to £7,097 Living away from home, outside of London Up to £8,430 Living away from home, in London Up to £11,002 You spend a year of a UK course studying abroad Up to £9,654

Eligibility – Tuition Fee Loan Course: Your course must be one of the following: a first degree; a Foundation Degree; a Certificate of Higher Education; a Diploma of Higher Education; a Higher National Certificate (HNC); a Higher National Diploma (HND); a Postgraduate Certificate of Education (PGCE) or an Initial Teacher Training (ITT) Previous Study: Students usually only get student finance for their first higher education qualification but you may still qualify for limited funding if you change course, or leave your course partway through and then restart. Nationality or Residency Status: Students can apply if they’re a UK national or have ‘settled status, normally live in England and have been living in the UK for 3 years before starting their course. Non-UK nationals may be eligible if they are from an EU country, are under 18 and have lived in the UK for at least 7 years, or aged 18+ and have lived in the UK for at least 20 years (or at least half their life)

Eligibility – Maintenance Loan Course: Same criteria as before. Previous Study: Nationality or Residency Status: To be eligible for help with living costs, you must have been living in the UK for more than 5 years before the first day of the first academic year of your course. Part-time Courses: For the 2018/19 academic year, Student Finance England will be offering maintenance loans to part-time students dependent on the intensity of the course and their household income.

Dependants Grants Childcare Grant Adult Dependants Grant Additional funding to help students with the cost of childcare during their course The funding is paid directly to the student who is then responsible for paying the childcare provider The grant is non-repayable however certain circumstances may result in the student having to make repayments e.g. leaving the course early Adult Dependants Grant Additional funding to help students who are financially responsible for another adult The grant is income assessed

Disabled Students’ Allowance DSAs are additional funding to help students with the extra essential costs which are the result of having a disability Support available is dependent on individual needs and not income There are 4 types of allowances; general allowance, specialist equipment allowance, non-medical helpers allowance and travel allowance Eligible students must meet the definition of disability under the Equality Act 2010 You can apply when you apply for your tuition and maintenance loans but you will be invited to attend a Study Needs Assessment DSAs are paid directly to those supplying the support/equipment

Care Leavers A care leaver is a young person who has been in the care of, or given accommodation by, their local authority for at least 13 weeks before the age of 16. They must not have reconciled with their parents after leaving care Care leavers will be assessed as independent students – the income of their parents will not be taken into account

Repayments All loans are repayable whereas grants are non-repayable, however certain situations may result in students repaying their grants Repayments do not begin until the April after you leave or complete your course Interest is applied to your loan as soon as the first payment is made to you

Current Interest Rates During study until entering repayment Interest Rate: Retail Price Index +3% Income: Under £21,000 Interest Rate: RPI Only Income: £21,000 to £41,000 Interest Rate: RPI + up to 3% Income: Over £41,000 Interest Rate: RPI +3%

Repayments Repayments do not begin until your annual income is £21,000 or above (before tax) You only repay 9% of anything earnt over £21,000 (see table) All outstanding repayments are written off after 30 years Salary Amount above £21,000 Monthly repayment Monthly salary £21,000 £0 £1,750 £22,000 £1,000 £7 £1,833 £25,000 £4,000 £30 £2,083 £30,000 £9,000 £67 £2,500 £35,000 £14,000 £105 £2,916

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