1. Student Fees and Financial Support Julie Pink Head, Schools and Colleges Liaison Service

2. Student finance – 2 main areas Tuition fees and tuition fee loans Living cost loans Living cost grants

3. Tuition fees and tuition fee loans What the university charges per year to cover your course costs. £9000 (up to)

4. Tuition fees and tuition fee loans Most students are entitled to a tuition fee loan that covers their fees Apply online in February Paid directly from Student Finance England to your university Repayments begin once you have graduated and are earning £21,000+ a year

5. Living cost loans Means-tested based on household income Maximum of £8,200 if you’re living away from home Maximum of £6,904 if you’re living at home Apply online in February 3 instalments Repayments start once you have graduated and are earning £21,000+

6. Total support available Household income Living at home with parents Away from home (not London) Away from home (London) £25,000 or less£6,904£8,200 £10,702 £30,000£6,322£7,612£10,103 £35,000£5,740£7,023£9,503 £40,000£5,158£6,434£8,904 £45,000£4,576£5,845£8,304 £50,000£3,994£5,256£7,705 £60,000£3,039£4,078£6,506 £65,000£3,039£3,821£5,906 £69,803 and over £3,309£3,821£5,330

8. Repayment Your tuition fee loans and living cost loans are repaid together Repayments are deducted automatically from your monthly salary through the tax system Repayment levels rise with your earnings – you pay back 9% of anything you earn over £21,000

9. Repayment If your salary falls below £21,000 your repayments are suspended Your monthly repayments are based on the level of your salary (earnings), not the amount of loan you received All outstanding repayments are written off after 30 years Interest charged – related to inflation

10. Repayment Salary Amount of salary from which 9% will be deducted Monthly repayment £25,000£4,000£30 £30,000£9,000£67 £35,000£14,000£105 £40,000£19,000£142 £45,000£24,000£180 £50,000£29,000£217 £55,000£34,000£255 £60,000£39,000£292

11. Apply online from February before start of course through the Student Finance England website You apply for second and third year support after Christmas in your first and second year Do not apply until the February before your course starts if you are having a gap year Don’t need a confirmed place – just state preferred course When does it happen?

12. Budgeting Your loans and grants probably won’t cover all your living costs Work out a budget before you start university Make sure you know how much you have coming in and going out Identify where the extra income could come from before you get into difficulties

13. Additional sources of finance Sponsorship Scholarships & bursaries Part-time work Gap year Disabled Students Allowance Parental contribution

14. Tips from students “Don’t spend all your student loan on the day you get it!” “Don’t go food shopping when you’re hungry!” “Open two bank accounts – one for bills and one for everything else.” “Don’t forget to budget for family and friends’ birthday presents!” “If you’re in a shared house, work out who’s paying for what.”

15. Tips for Parents Talk to student about budgeting Vouchers from loyalty points/supermarket cards/NUS card Give help in form of course books or food shopping Don’t bail them out at the first sign of trouble http://www.practitioners.slc.co.uk/resources/201617- resource-finder.aspxhttp://www.practitioners.slc.co.uk/resources/201617- resource-finder.aspx

16. Key things to remember Students or parents don’t pay tuition fees up front Financial support is available Repayments don’t begin until you’re earning +£21k Stick to deadlines for application

17. Open Days 2016 Thursday 23 June Wednesday 29 June Saturday 17 September Saturday 22 October Wednesday 26 October Friday 2 December 9.30am – 3.00pm