1. Financial Support for Students in 2009/2010 Middlesex Money, Welfare and International Advice Service

2. Overview What is available to UK/ ‘home status’ students living in England entering HE in 2009/2010 Case studies Other targeted help Financial support applications Paying back the Student Loan Part-time students Miscellaneous

3. The Main Package Tuition Fees and Tuition Fee Loans Maintenance Loans Maintenance Grants University and College Bursaries Additional Support

4. Tuition Fee Loan (repayable after course) Tuition Fee £3,225 A Tuition Fee Loan is available The Tuition Fee Loan is paid direct to the HEI by the Student Loan Company Not means-tested Available to all eligible students who have a personal liability Up to £3,225 No age limit

5. Maintenance Loan (repayable after course) 72% non means-tested Paid directly into student bank account with any maintenance grant payable Age 60 at the start of the course Loan written off after 25 years Paid in three instalments

6. Maintenance Loan Rates 2009/2010100% including income assessed Loan rate if in receipt of full grant Living away from home in London £6,928£5,475 Living away from home outside London £4,950£3,497 Living at home£3,838£2,385

7. Maintenance Grant (non repayable) Means-tested Maintenance Grant of up to £2,906 Paid in three instalments Not available to students who are eligible for means-tested benefits Grant will substitute part of the Student Loan

8. Special Support Grant (non –repayable) Means-tested grant of up to £2,906 Paid to students who are eligible for mean-tested benefits Paid in three instalments Will NOT substitute part of the maintenance loan

9. Grant Income Thresholds Household Income Up to £25,000 Over £25,001 to £50,020 Above £50,020 Level of Grant £2,906 Partial grant between £2,906 and £50 Nil

10. University Bursaries (non repayable) If: Student receives the full grant of £2,906 and: University is charging fees of more than £2,906 then: University must provide a minimum non- repayable bursary for any fee over £2,906 Middlesex charging fee of £3,225 Middlesex is providing £319

11. Means Testing Student Finance England (SLC) assesses household income based on: Gross taxable income of resident parents, partners, (including same sex partners) step-parents Gross taxable income of student excluding any earnings during university term time and holidays LESS deductions for payments into pension funds and £1,130 for each other dependant child in the household

12. Summary Variable fees up to £3,225 Tuition fee loan up to £3,225 (repayable) Maintenance Loan £6,928 max (repayable) Grants up to £2,906 (non-repayable Bursary £319 for students studying at Middlesex receiving full Grants of £2,906 (non-repayable)

13. Additional DIUS Support Adult Dependant Allowance: £2,642 Parent Learning Allowance: £1,508 Childcare Grant: 85% of childcare costs Disabled Student Allowance: £27,405 max Discretionary Support Access to Learning Fund

14. Case Studies Student A has a household income of £24,000. They will study in London and live away from home. Maintenance Grant£2,906 Maintenance Loan£5,475 (max £6,928) Middx Bursary£319 Total living costs£8,700 Tuition fee loan£3,225 Payment after course£8,700

15. Case Studies Student B has a household income of £24,000. They will live at home Maintenance Grant£2,906 Maintenance Loan£2,385 (max £3,838) Middx Bursary£319 Total living costs£5,610 Tuition fee loan£3,225 Payment after course£5,610

16. Case studies Student C has a household income of £50,020. They will study in London and live away from home. Maintenance Grant£50 Maintenance Loan£6,903 (max £6,928) Middx Bursary0 Total living costs£6,953 Tuition fee loan£3,225 Payment after course£10,128

17. Case studies Student D has a household income of £60,478. They will study in London and live away from home. Maintenance Grant£0 Maintenance Loan£4,988 (income level reached for non-means- tested loan) Middx Bursary0 Total living costs£4,988 Tuition fee loan£3,225 Payment after course £8,213

18. Case studies Student E is a single parent and has a household income of £24,000. They will study in London. Special Support Grant£2,906 Maintenance Loan£6,928 (no loan deduction) Middx Bursary£319 Total living costs£10,153 Tuition fee loan£3,225 Payment after course£10,153

19. How to Apply Apply online from late February at www.studentfinanceengland.co.uk/ www.studentfinanceengland.co.uk/ Information required: National Insurance Number Birth Cert/Passport Household income details Student bank account details

20. Repayment Arrangements Tuition Fee Loans and Maintenance Loans added together Repayments start after leaving course when earning over £15,000 a year Collected by HMCR through PAYE Rate is 9% of earnings above £15,000 a year Additional early payments possible

21. Repayment Example Student earning £18,000 Will pay 9% of £3,000 in a year = £270 Monthly = £22.50 Weekly = £5.19 Student earning £24,000 Will pay 9% of £9,000 in a year =£810 Monthly =£67.50 Weekly = £15.58

22. Part-Time Students Grant package available to students with household income £16,510 or less, tapered up to £27,505, linked to intensity of study.  £805 for those students studying at 50% the intensity of a full-time course but less than 60% (additional fee support also available from University to cover full fee cost)  £970 for those studying at 60% or more of a full time course but less than 75%, and  £1,210 for those studying at 75% or more  Non repayable books and equipment grant of £260  Access to Learning Fund

23. Miscellaneous Home Status - qualify funding EMA’s – Maintenance Grants Student Bank Accounts - free overdraft Council Tax - student exemption Halls contracts - check break clauses, noise levels etc

24. Cross –border Information Students living in Wales www.studentfinance.co.uk Students living in Northern Ireland www.delni.gov.uk/studentfinance Students living in Scotland www.saas.gov.uk

25. Further Information General information www.direct.gov.uk/studentfinance/ www.direct.gov.uk/studentfinance/ www.studentfinanceengland.co.uk/ Loan repayments www.studentfinancedirect.co.uk www.studentfinancedirect.co.uk Middlesex University 24-7 http://www.mdx.ac.uk/24%2D7/mw as/index.htm

26. Any Questions?