UCAS Visit Day Student Support and Finance 2009/10

Student Support Departmental support Support in Accommodation Student Welfare Service Learning Support AccessAbility (disability support) Careers

Money, Money, Money.... How much students have How much parents have to pay How it gets spent

Tuition Fees 2009/2010 Variable (‘top-up’) fees Most Universities charging £3,225 p.a. No up-front fees payable –Most students can take a loan to pay for fees Repayment of all borrowing after graduation

Living Costs Parents or spouse will be means-tested to determine the level of 3 types of support: –Maintenance Grant - max. £2906 (fully means- tested) –Loan (28% means-tested) –University Bursaries (fully means-tested)

Maximum Student Loans 2009/10 Students living away from home and studying: in London £6,928 elsewhere £4,950 Students living at home £3,838

Balancing Grant and Loan Maintenance LOAN entitlement is reduced if students receive a grant 50p less LOAN for every £1 of maintenance GRANT payable E.G. Grant of £1000 = £500 reduction in loan

Example Support (not including University Bursaries/Scholarships) IncomeGrantLoanTotal <£25,000£2,906£3,497£6,403 £50,021£0£4,950£4,950 £57,709+£0£3564£3564 N.B. £1 contribution to student loan for every £5 of income over £50,778 until max. 28% per student reached

University Bursary Students receiving maximum Maintenance Grant of £2,906, and paying maximum fees will qualify for a payment of £319 from their university This will be payable once a student has started their course - payment dates vary Some universities are paying more than the minimum –

Scholarships Some universities will pay scholarships Assistance is likely to be targeted at A level performance and/or subject studied Wide variation between institutions

Repayment of Borrowing Repayments begin in the April after graduation only when the graduate is earning more than £15,000 For example: income £16,000 per year - repayments £7.50 per month income £20,000 per year - repayments £37.50 per month income £55,000 per year - repayments £300 per month

Example Student Budget Income over 30 weeks of the Academic Year (estimated figures) Assessed IncomeStudent Funding Student A<£25,000£6,403 = £213/week Student B £50,021£4,950 = £165/week Student C £ 57,709 +£3,564 = £119/week

Estimated expenditure Catered Halls 126 Food 20 Toiletries 5 Telephone 5 Travel 8 TV licence 2 Sport/societies 5 Laundry 5 Books/equipment 10 Insurance 3 Gifts/birthdays 5 Clothes/shoes 5 TOTAL £199

Which should leave a weekly surplus/shortfall of….. Student A£14 surplus Student B£34shortfall Student C£80 shortfall –But what about entertainment???

How to meet additional needs University Bursary/Scholarship amounts and criteria vary Part-time work £10-£50/week Bank overdraft average £1,000 (£33/week) Family Savings

Further Information University of Leicester funding: – DfES student support information: – Office for Fair Access: – Welfare Centre: – www.le.ac.uk/welfare

Further Information If you normally live in Scotland, Northern Ireland or Wales, contact the relevant authority in your area for full funding information: Northern Ireland – call local ELB or see Scotland Wales

Thank you for listening - any questions?