slide 1 Tuition Fees and Bursaries

slide 2 Types of Financial Support Tuition Fee Loans Maintenance Grants Student Loan for living costs University of Essex Bursary *new*

slide 3 Tuition Fee Loans Eligible full-time undergraduates will not have to pay fees before they start, or whilst they are studying. Students will be able to apply for a Tuition Fee Loan for up to the cost of the course, per annum. The fees will be paid direct to the University, on their behalf. Students will repay these loans once they have left university and are earning over £15k.

slide 4 Loans also available to existing students, towards their maximum fee amount of £1200 Systems Admin and MIS will receive information about how much money is due to the University from Tuition Fee Loans and record the amounts in each student’s record. If the Tuition Fee Loan is for less than £3k, the student will be invoiced by Finance for the remainder during the Autumn term.

slide 5 Maintenance Grant Non-repayable, means-tested Maintenance Grant worth up to £2700 a year If household income is -£17,500 or less they will receive the full £2700 grant -£17,501 TO £37,425 a partial grant is payable Approx 50% of new students are likely to be eligible for a grant Grants are payable in 3 instalments - at the start of each term.

slide 6 The University does not administer any aspect of the Maintenance Grant. Data files from SLC will state whether a student is in receipt of a grant, or not.

slide 7 Student Loans for Living Costs Loan amount for Maintenance Grant holders will be reduced by up to £1200 as part of the Maintenance Grant is paid in substitution for part of a loan: reducing the debt for lower income students by up to £1200 p.a. The loan is repayable after graduation when earnings reach more than £15k a year. Repayments are linked to earnings. A graduate earning £20k p.a. would repay £37.50 a month.

slide 8 Systems Admin confirms registered status to the SLC at the start of each year. Payments are released three working days after the date of Registration. The Student Enquiry Screen shows that a student’s registration details were returned to the SLC at the start of the year. Remaining instalments depend on the student’s continuing status.

slide 9 University of Essex Bursary Bursary provision is required if we wish to charge £3000 fees To minimise deterrent from fees, students in receipt of maximum Maintenance Grant of £2700 will receive a “statutory” non repayable bursary of £300. The University is offering “discretionary” bursaries to students From low income households in addition to awarding the statutory £300 bursaries.

slide 10 Bursary Amounts Where household income < £25k p.a. the University provides a cash bursary to complement the Maintenance Grant to provide total support equivalent to £3000 p.a. Where household income between £25k - £37,426 p.a. Both the Maintenance Grant and University Bursary taper off on a sliding scale. The maximum Bursary value is £1550.

slide 11 Bursary Administration SLC provides a service to calculate bursary amounts and make payments to students on our behalf. University pays £3.75 per eligible student per year. Bursary amounts are calculated during the application cycle and notified to applicants via SLC on joint SLC/Essex paper. Systems Admin and Admissions can approve and monitor bursary awards through an SLC portal.

slide 12 Bursary Administration There will be a n “audit” of registered students prior to the payment of bursary instalments. The Bursary is paid in 2 instalments, in February and May. Systems Admin will create a file of eligible students for SLC to release payments.

slide 13 Contacts Bursary policy and “rules” Tom Barlow, Customer Services Manager, Finance Section Tuition Fees Lee Burton, Head of Income & Payments, Finance Section Student records Nicola Jackson, Systems Administration