1. www.gov.uk/studentfinance 2015/16 INTRODUCTION TO STUDENT FINANCE INFORMATION FOR STUDENTS

2. SECTION 1 2015/16 Universities and colleges* can charge new, full-time students up to £9,000 (£6,750 part-time) per year in tuition fees. Eligible students won’t have to pay any tuition fees up front.* A Tuition Fee Loan is available to cover the fee charged by a university or college.** A Tuition Fee Loan doesn’t depend on household income. SFE pay your Tuition Fee Loan directly to your university or college. The loan is repayable, but only when your income is over £21,000 a year. *Publicly funded institutions **Up to £6,000 for approved courses at private providers TUITION FEES AND LOANS AN OVERVIEW

3. SECTION 1 2015/16 London Live away from home & study in London Up to £8,009 £ Elsewhere Live away from home & study outside London Up to £5,740 £ Parental home Live at home while you study Up to £4,565 £ MAINTENANCE LOAN MAXIMUM LEVELS 2015/16 If studying overseas as part of a UK course, Maintenance Loan support is still available; up to £6,820 for 2015/16. i

4. SECTION 1 2015/16 Full-Year Student* 65% Non Means Tested 35% Means Tested Maximum Loan Parental home£2,967£1,598£4,565 Elsewhere£3,731£2,009£5,740 London£5,205£2,804£8,009 Overseas£4,433£2,387£6,820 i Additional loan may be available for any extra weeks of study if your course goes beyond 30 weeks in an academic year *Lower rates are available to final year students MAINTENANCE LOAN MAXIMUM LEVELS 2015/16

5. SECTION 1 2015/16 The Maintenance Grant doesn’t have to be repaid. How much grant you can get depends on your household income (100% means tested). Full Grant: £3,387 Partial Grant: (Min £50) Household Income: Up to £25,000 Household Income: Up to £42,620 MAINTENANCE GRANT SUPPORT AND MEANS TESTING Household income is the taxable earned and unearned income of the parents/partner you live with most of the time. i

6. SECTION 1 2015/16 Household Income Maintenance Grant Maintenance Loan Total £25,000 & under£3,387£4,047£7,434 £30,000£2,441£4,520£6,961 £35,000£1,494£4,993£6,487 £40,000£547£5,467£6,014 £42,620£50£5,715£5,765 £42,875£0£5,740 £50,000£0£4,998 £62,143 & over£0£3,731 COMBINED MAINTENANCE SUPPORT LIVING AWAY FROM HOME OUTSIDE LONDON You can get an estimate of your student finance entitlement using the calculator on gov.uk/studentfinancegov.uk/studentfinance i

7. SECTION 1 2015/16 Many universities and colleges offer financial support to their students through bursaries and scholarships: Bursaries: Linked to personal circumstances and often, household income. Awards can include discounted tuition fees, accommodation or cash. Scholarships: Linked to academic results or ability in an area such as sport or music. Can be subject specific and are usually limited in numbers. Check university/college websites and ask at open days to see what they offer and how/when to apply....don’t miss out!! EXTRA SUPPORT BURSARIES AND SCHOLARSHIPS i

8. SECTION 1 2015/16 ADDITIONAL SUPPORT have children or an adult dependent on you have a disability, long-term health condition, mental-health condition or specific learning difficulty study overseas as part of your UK based course study an NHS or Social Work course NHS courses include: nursing, midwifery, physiotherapy, speech and language therapy, dietetics, radiography, the later stages of medicine and dentistry For more information on eligibility and applications for NHS support go to: www.nhsbsa.nhs.uk/studentswww.nhsbsa.nhs.uk/students EXTRA SUPPORT OTHER FINANCIAL HELP MAY BE AVAILABLE IF YOU… i

9. 2015/16 SECTION 2 Each year thousands of students apply late for their finance and have no way to pay for their course or accommodation. It will take at least six weeks to process your application so apply early to make sure your student finance is ready for the start of your course. Apply online at gov.uk/studentfinance* You don’t need a confirmed place at university or college to apply. Apply with your first choice, you can change details later if you need to. *Register on UCAS and check the SFE websites for updates on when to apply for student finance. STUDENT FINANCE APPLICATIONS KEY MESSAGE – APPLY EARLY i

10. 2015/16 SECTION 2 Before starting an application, have the following to hand: Passport - SFE can check identity using valid UK passport details University and course details Bank account details and National Insurance number The easiest way for your parents, partner or other sponsor to support your application is online through GOV.UK, providing information including: National Insurance number(s) Household income information (based on prior tax year*) Details of other child dependants STUDENT FINANCE APPLICATIONS KEY MESSAGE – COMPLETING AN APPLICATION *If your household income drops by 15% or more in the current tax year, SFE can reassess your application. i

11. 2015/16 SECTION 3 No repayments until your income is over £21,000 a year gross (before tax). If you study a full-time course, you will be due to start repaying in the April after graduating from/leaving higher education. You’ll repay 9% of your income over £21,000 and if you’re employed deductions will be made from your pay through the HMRC tax system.* If your income falls to £21,000 or below your repayments will stop. Any outstanding loan balance will be written off 30 years after entering repayment. STUDENT LOAN REPAYMENTS AN OVERVIEW *If you move/work overseas you will repay 9% of your earnings over the repayment threshold for the country you are living in. i

12. 2015/16 SECTION 3 £30 £4,000 9% Deducted from £4,000 Income each year before tax 9% will be deducted from Monthly Repayment (Approx) £21,000£0 £30,000£9,000£67 £40,000£19,000£142 £50,000£29,000£217 £60,000£39,000£292 Income £25,000 STUDENT LOAN REPAYMENTS THE FIGURES Interest is applied to your loan at a maximum rate of RPI +3% More info can be found on: www.studentloanrepayment.co.ukwww.studentloanrepayment.co.uk i

13. 2015/16 SECTION 3 Interest on your loan will depend on your income and circumstances: Interest rate is: Set at RPI Only Interest Rate: RPI Only During study until entering repayment Income: Under £21,000 Interest Rate: Retail Price Index +3% i The interest rate is updated once a year using the RPI figure from March which is carried forward and applied in September. Income: £21,000 to £41,000 Income: Over £41,000 Interest Rate: RPI + up to 3% Interest Rate: RPI +3% STUDENT LOAN REPAYMENTS THE INTEREST

14. SECTION 4 2015/16 Important to make the right university/college and course choice!! Tuition Fee Loans are available to all eligible students. Future repayments are linked to your income, not what you owe. Research all finance available – especially bursaries & scholarships. Apply online & on time – no need to wait for a confirmed place. Check all details are correct before submitting your application. KEY MESSAGES NOW IT’S YOUR TURN!! POINTS TO REMEMBER

15. 2015/16 For further information on student finance and applications go to: www.gov.uk/studentfinance For a range of helpful tools and guidance, visit: www.thestudentroom.co.uk/studentfinance i i NEED MORE INFORMATION? REMEMBER SFE IS ONLINE