1. UWE Bristol Spending Review, the Budget and funding for students Presentation by KW Money Advice and Funds Service

2. 2016/17 Introduction of PG loans Ending of Maintenance Grants for English UG for new students only Freezing of the repayment threshold 2017/18 Changes to Funding for NHS courses Relaxation of the restrictions on funding for fee loans for second degrees in STEM subjects 2018/19 Introduction of Maintenance loans for part-time UGs

3. 2017/18

4. What courses? Nursing: –adult, –children’s, –learning disabilities –mental health Midwifery, Occupational Therapy, Physiotherapy, Radiotherapy and Oncology.

5. Which students? The system of commissioning student numbers will end after 2016/17 entry. There will be no cap on the recruitment for NHS courses. UK and EU fee status Starting after September 2017/18 Or progressing from Foundation year in Health Professions started in 2016/17

6. Funding changes – NHS courses Current scheme Apply to NHS BSA: Grant & Bursary, Disabled Students Allowances and support for children Apply to Student finance for small maintenance loan 2017/18 scheme One application to Student Finance England (Wales, Scotland, Northern Ireland) : Fee loan Maintenance Loan Disabled Students Allowances Support for children

7. Tuition Fees - NHS courses Current scheme Fees paid by NHS for 36 months Extension beyond 36 months - discretion of Health Authority, NHS BSA & academics 2017/18 scheme Fees covered by tuition fee loan Statutory right to gift year of fee loan for repeat study

8. Maintenance Loan – replacing the NHS Grant, Bursary and small loan £8,200 + £88 per week for courses lasting longer than 30 weeks + £792 Occupational Therapy + £968 Nursing + £1,320 Midwifery £6,904 + £57 per week if living with parents

9. Household income Current NHS scheme: living cost bursary/loan 2017/18 SFE scheme: living cost loan Under £25,000£6,807£9,168 £30,000£6,160£8,580 £40,000£5,108 £6,434 £50,000£4,055£5,256 £60,000£3,234£4,078 Over £62,000£3,234£3,821

10. Household income Current NHS scheme: living cost bursary/loan 2017/18 SFE scheme living cost loan for disabled students or lone parents Under £25,000£6,807 £10,315 £30,000£6,160£9,406 £40,000£5,108 £7,586

11. The price tag for an NHS degree Fees £9,000 Living cost loan £10,315 (lone parent on nursing course) £19,315 x 3 years £57,945 Interest rate @ 3.9% = £4,519 interest accrued during study = £62,464 Current Scheme £6,459 + £543 interest = £7,002

12. Gross Taxable Income Net monthly wage Monthly repayments Annual Repayment Annual interest on £57,945 Interest rate RPI = 0.9% £20,000 £1,39100£5210.9% £26,000 £1,731£37.50£450£9561.65% £31,000 £2,014£75£900£1,3902.4% £36,000 £2,297£112£1,350£1,8253.15% £41,000 £2,581£150£1,800£2,2593.9% £46,000 £2,834£187£2,250£2,2593.9% £56,000£3,317£262£3,150£2,2593.9%

13. How much will your degree cost? Will depend on: Interest rates Earning threshold increasing or not Your earnings EarningsRepayment over 30 years Amount ‘written-off’ (excluding interest) £20,000£0£57,770 £26,000£13,500£44,270 £36,000£40,500£17,270 £46,000£54,000£3,770

14. Key Messages Price tag vs. cost Loan write-off More money while study especially for lone parents and disabled students

15. What are we waiting for? Confirmation of funding entitlement for degree holders Confirmation of who administers placement support Confirmation of impact on 2016/17 Foundation year zero students Loan forgiveness (e.g. teachers in 2004)

16. Good news – NHS funding One Funding Application Statutory rights to funding for repeat study More money (25%) especially lone parents and disabled students These students will be Access- Agreement countable so entitled to the UWE Bursary etc.

17. Bad news – NHS funding No Maternity Bursary Level of student debt & impact on recruitment Subject to the DSA changes

18. Any Questions?