Quiz time!

Q: How much does this textbook cost? A: £24.99 (Amazon)

Q:How much do these noodles cost? A:10p

Q:How much does a railcard cost? A:£26 for 1 year, £65 for 3 years

Q:What is the average cost of a one of these? A:£1.99 (HMV.com)

Q:What is the approx average cost of accommodation? A:£130 - £250 per week (Zone 1 halls)

Content Who are Student Finance England? What finance is available? How do you apply? How do you repay? Tips and advice…

Student Finance England… Are part of the Student Loans Company Administer financial support for higher education students who normally live in England You apply to SFE for your funding (grants and bursaries which you don’t pay back, and loans which you do) SFE pay any Tuition fee loan directly to the university or college and pay you any maintenance grant or loan.

What support could I get?

Tuition Fee Loan You don’t need to find the money for fees up-front, you can take out a loan from SFE which does not depend on income The amount you get depends on the cost of your fees – up to max £9,000 in 2012 Before applying for a full-time course you should check with your university or college how much your tuition is likely to cost You only pay SFE back once you have graduated, when you are earning.

What support could I get?

Living Cost Support Maintenance Loan Some of the amount you receive depends on your parental/household income, but not all of it. A loan of up to £5,500 will be available if you live away from home and study at a university outside of London A larger loan of up to £7,675 will be available if you live away from home and study at a university in London A loan of up to £4,375 will be available if you stay living at home whilst at university Loans have to be repaid!

Living Cost Support Maintenance Grant / Special Support Grant Extra help with living costs for some students How much you could get depends totally on your parental/household income Maximum grant in 2012 will be £3,250 Households with income below £25k will get it all, households with income up to £42½k will get some Grants don’t have to be paid back!

What support could I get?

Additional Support All universities offer their own scholarships and bursaries Scholarships reward good academic performance, so you may get extra money if you do well at your A Levels Bursaries are based on financial need, so your may get extra money if you come from a lower income household From 2012/13 the government will also be introducing a new National Scholarship Programme to help students from lower income families. This is still to be finalised and approved Scholarships & Bursaries

Additional Support Extra support is available if you are disabled or have a learning difficulty (more to follow) Extra support is available if you have adults or children who are dependent on you This extra support is provided by the government and anything that you are entitled to will be calculated along with your loans and your grants You should also explore trusts, funds, charities, employer sponsorship, Mum, Dad, other family! Other Support

Additional Support Disabled Students Allowance DSAs are grants to help meet the extra course costs students can face as a result of a disability. They help disabled people to study in higher education on an equal basis with other students. They don’t have to be repaid The amount you get depends on the type of extra help you need - not on your household income. Other Support

Additional Support What can DSAs be used for? Specialist equipment you need for studying like computer software Non-medical helpers, such as a note-taker or reader Extra travel costs you have to pay because of your disability Other costs like tapes or Braille paper Other Support

How to apply Online ! It’s the quickest and easiest way to apply : Register and provide personal and course information In most cases you can just provide SFE with your UK passport number and your parent’s or partner’s National Insurance Numbers – they can then automatically check your identity and the household income

When to apply Apply as soon as SFE launch 2012/13 service around February/March 2012 – don’t wait! You don’t need to have a confirmed place, you can apply using your first choice of course! Make sure you complete your application before the deadline to ensure your money is in place in time for starting university You will be prompted to apply when you apply for your course via UCAS

What about repayment? You are eligible for repayment from the April after you leave/graduate from university Repayments are taken automatically from your salary with tax and National Insurance through the UK Tax system You won’t start repaying anything until you earn over £21,000 pa (£1,750 per month) gross You will have to keep repaying if you work overseas You repay 9% of what you earn above £21,000

Income each year before tax Monthly salaryApproximate monthly repayment £18,000£1,500£0 £21,000£1,750£0 £24,000£2,000£23 £27,000£2,250£45 £30,000£2,500£68 £33,000£2,750£90 £36,000£3,000£113 £40,000£3,333£143

Tips and advice

Preparing Benefits: If you receive income based benefits because of a disability, these may be affected by your student loan income while you study. For further information and advice please see the Disability Alliance website:-

Getting things right Start your research early – know when to apply, how much you might get and what information you might need to provide Don’t wait until you have a confirmed place – you can always amend your finance application online at a later date

Think carefully… Student bank account overdrafts Mobile phone contracts People on campus trying to sign you up to things Credit/store cards are best avoided… … but make sure you get an NUS student discount card If it seems too good to be true, it probably is!

For more information… To apply for funding:- Information about benefits while studying:- Information about 2012 funding:- yourfuture.direct.gov.uk/ Martin Lewis, loan repayment calculator and money saving advice:-