Student Finances 2008 Queen Elizabeth’s Grammar School

Fees Tuition Fees –Individually set University fees (“top-up” fees) –£3145 per annum in 2008 (Scotland, £1700) –Fee loan available from SLC –Payable after graduation, when your earnings reach £15,000 –9% of earnings above £15,000

Living Expenses Loan from SLC Maximum amounts –At home£3580 –Away from home£4625 –Away in London£6475 –Based on 30 week academic year

Living Expenses 75% loan entitlement for everyone 25% on sliding scale if residual income –Less than £17,900full loan –More than £38,80575% only –Parents expected to contribute difference –Payable after graduation, when your earnings reach £15,000 –RPI-linked interest

Living Expenses Maintenance Grant Non-repayable Sliding scale –less than £17,900£2765 –more than £38,805£0 –Grant reduces loan £ for £ up to a maximum of £1230

Bursaries University specific finance Not repayable Usually linked to residual income –Nottingham £1050 –Newcastle£1240 –Cambridge£3100 –Sheffield Hallam £700

Bursaries Lincoln –£600 on £17,900 –£1,500 if in LA Care –£1,00) or £500 sports bursaries –£1,000 Science Bursaries –£,1000 EU Bursaries Find out what’s available!

Bursaries QEGS Leaver’s Scholarship High potential for excellence One payment Varies according to number awarded

How much? Accommodation –In halls –Private –Catered –Non-catered –Location (SE premium)

How much? Food Heating Telephone Internet Insurance Travel Laundry Social Books

How much? Rent£3250 (Catered) Food£800 Travel£450 Social£1000 Books£400 Clothes£450 Laundry£150£6500

And the rest? Insurance£125 Telephone£150 Toiletries£50 Contingencies£100 £6955

Other sources of income Earnings –Part-time, holidays Sponsorship –Industrial, commercial Grants and Scholarships –Local charities

Access to funding Complete LA application form They will assess your eligibility and send you a Financial Assessment Form Complete Financial Form Meet the deadlines Delays can cause problems in the Autumn

Access to funding Receive financial notification –One for you –One for institution Apply for loan/grant –Do it straightaway!

Advice Bank accountwhere and which? Credit cardcan you control it? Budgetwill it work? In trouble?Ask for help!!

Useful websites - student loan company - NUS catid=14926&docid=27177http:// catid=14926&docid= LA Learning/UniversityAndHigherEducation/St udentFinance/index.htmhttp:// Learning/UniversityAndHigherEducation/St udentFinance/index.htm - DCSF