Funding your part-time studies 2019

A quick disclaimer… The information and figures from Student Finance are based on what we know at the moment. The current system has only been confirmed for 2019 entry.

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

Student Finance England (support from the government)

Eligibility Things that may effect your eligibility: If you’ve studied for a higher education qualification before Your nationality or residency status How long you have lived in the UK for If you have concerns about any of the above you should contact Student Finance England

FT/PT Tuition fee loan - The tuition fee loan will cover however much the tuition fee is for that year - F/T – £9,250 - P/T – £4,625 - Available to all eligible home and EU students - Must be studying at a course intensity of at least 25%

Maintenance loans - These are for full-time students only (2018 entry) FT Maintenance loans - These are for full-time students only (2018 entry) Household income Living at home Living away from home £25,000 or less £7,324 £8,700 £30,000 £6,707 £8,076 £35,000 £6,090 £7,452 £40,000 £5,473 £6,828 £45,000 £4,855 £6,204 £50,000 £4,238 £5,579 £55,000 £3,621 £4,955 £60,000 £3,224 £4,331 £65,000 £4,054

Maintenance loans (over 60) FT Maintenance loans (over 60) - These are for full-time students only (2018 entry) Household income Maintenance loan £25,000 or less £3,680 £30,000 £2,710 £35,000 £1,739 £40,000 £768 £43,695 £50 £45,000 £0

Living at home, 50% intensity PT Maintenance loans for part-time students 2018 (at least 25% intensity, living at home) Household income Living at home, 50% intensity £25,000 or less £3,662 £35,000 £3,045 £45,000 £2,428 £55,000 £1,811 £65,000 £1,612 Must be aged under 60 on first day of course.

Applying for loans and grants FT/PT Applying for loans and grants Apply online Feb/March for full-time courses and in May for part-time.

FT/PT Repaying the loans - Repayments start: - The April after you leave university (FT) OR - The April 4 years after you have started your course (PT) 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

Repaying the loans - You pay back 9% of anything you earn over £25,000 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 for 2019 entry. - None of these awards have to be repaid. - Awards will vary depending on your course.

Sheffield Bursary Scheme Full-time courses, outside of DLL FT Sheffield Bursary Scheme Full-time courses, outside of DLL Household income Household income Bursary per year £0 – 25,000 £1,000 £25,001 – 30,000 £500 £30,001 – 40,000 £250

Sheffield Bursary Scheme Full-time courses, outside of DLL FT Sheffield Bursary Scheme Full-time courses, outside of DLL - Students with a household income below £25,000 who live in one of the country’s most deprived areas get an extra £250 - Students who live in a low participation area in Sheffield and the surrounding region and achieve A,B,B or higher at A-Level regardless of household income get an extra £250 Students can get either of these awards but not both

Sheffield Bursary Scheme FT within DLL Sheffield Bursary Scheme Full-time Foundation Programme - Students on full-time, foundation programmes with DLL with a household income of less than £25,000 will receive the maximum bursary (£1,250) regardless of postcode and grades Household income Bursary per year £0 – 25,000 £1,250 £25,001 – 30,000 £500 £30,001 – 40,000 £250 www.sheffield.ac.uk/ssid/finance/dll

Sheffield Part-Time Bursary Scheme PT Sheffield Part-Time Bursary Scheme University Bursary on a pro rata basis – you must be studying a FTE of at least 50% within DLL Household income Bursary per year £0 – 25,000 £625 £25,001 – 30,000 £250 £30,001 – 40,000 £125

FT/PT Enhanced Bursaries All care leavers, student carers & students estranged from their families can apply for an enhanced bursary - Full-time students: £4,500 - Part-time students: £2,250

Full-time students only FT Full-time students only https://www.sheffield.ac.uk/undergraduate/finance/help/student-funding-calculator

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

Benefits – full-time students FT Benefits – full-time students - Most full-time students can not claim benefits - Students with a disability or who are single parents may be able to claim some benefits - Students with dependent children can apply for a Childcare Grant and may also be eligible for a Parent’s Learning Allowance from Student Finance

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 Full-time (outside of DLL) https://www.sheffield.ac.uk/undergraduate/finance Full-time within DLL https://www.sheffield.ac.uk/ssid/finance/dll Part-time within DLL https://www.sheffield.ac.uk/ssid/finance/dll/part-time

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