1. 15.14% of students are highly concerned at the level of debt that they will incur by the time they graduate (122 students)
STUDENT FINANCE

2. STUDENT FINANCE Fees and Funding 2017/18 + Tuition Fees
This presentation will cover:
+ Tuition Fees
+ Maintenance Loans
+ University of Northampton Scholarships and Bursaries
+ Budgeting
+ Applying for Student Finance

3. STUDENT FINANCE Tuition Fees
The University of Northampton’s tuition fees for ‘Home’ and EU students in 2017/18* are:
£9,250* full-time undergraduate BA/BSc course
£9,250* full-time undergraduate HND/Foundation Degree course
£6,300 Foundation year (as part of a 4 year programme)
EU students who meet ‘Home’ residency - To be considered as a ‘Home’/ UK student for funding purposes, students from the EU need to have been ‘ordinarily resident’ within the UK for at least 5 years before the start of their course.
A Tuition Fee Loan and Maintenance Loan may be available.
EU students who do not meet this criteria, who have been ‘ordinarily resident’ within the EU for at least 3 years before the start of their course may be assessed for a Tuition Fee Loan only.
They are not usually eligible for funding towards living costs.
*Subject to approval from the Government that we meet the criteria in the Teaching Excellence Framework

4. Student finance Tuition Fees Explained
You do not have to pay fees up front and the loan is not based on household income.
This is paid directly to the University.
Tuition fees are payable for each year of the course and are subject to change in future academic years due to annual inflationary rise.
Student loan repayments are only made once you leave university and earn above the threshold.
Taking out a student loan does not affect your credit rating
Student loans available to everyone and are mainly to cover the yearly cost of your tuition fees.
Uni’s can now charge up to £9000 a year. Repayments are not made while you’re studying, they begin when you are earning £21,000 or more and are only a percentage of your earnings.
Scholarships and bursaries are available in some circumstances. Some student finance leaflets and info available.

5. STUDENT FINANCE Maintenance Loan (repayable)
Available to help towards living and course costs
Partially means tested on household income*.
Paid into your bank account in three instalments over the academic year
Repayments are linked to your salary once you leave your course.
Students will need to re-apply for their funding for each year of their course.
Full-time Student
Maintenance Loan
Living at home
Up to £7,097
Living away from home, outside London
Up to £8,430
Living away from home, in London
Up to £11,002
Min amounts: 3124, 3928, 5479
Payments are around Sept/Jan/April to coincide with payment of rent for halls of residence.
Same T&C’s as tuition fee loan
For 2016/17 applications, details from tax year 2014/15 are used.
If studying overseas as part of a UK course, Maintenance Loan support is still available
EU students must be resident 5 years to have access to Maintenance Loan
A student is considered independent if:
• They’ve been married or formed a civil partnership before the start of the academic year even if that marriage or civil partnership has ended.
• They have no living parents.
• They’ve supported themselves for at least three years before the start of their course.
• They’ve not communicated with their parents for one year before the beginning of the academic year for which they are applying for support, or can demonstrate a permanent estrangement from their parents.
• Their parents cannot be traced or it is not practical or possible to contact them.
• Their parents live outside of the EC and an income assessment would put them in jeopardy, or if not reasonably practicable for them to send funds to the UK if a contribution were assessed.
Earned income includes:
wages, salaries, tips, and other taxable employee pay.
long-term disability benefits received prior to minimum retirement age.
net earnings from self-employment.
Unearned income includes:
interest from savings (only the annual summary is required)
benefits and Pensions
rent from property or a room

6. (inc. Halls of Residence)
STUDENT FINANCE
Maintenance Loan (repayable)
Household Income
Home – with parents
Elsewhere –
(inc. Halls of Residence)
London
£25,000 & under
£7,097
£8,430
£11,002
£30,000
£6,499
£7,825
£10,387
£35,000
£5,901
£7,220
£9,771
£40,000
£5,303
£6,615
£9,155
£45,000
£4,705
£6,009
£8,539
£50,000
£4,107
£5,404
£7,924
£55,000
£3,509
£4,799
£7,308
£60,000
£3,124
£4,193
£6,692
Payments are around Sept/Jan/April to coincide with payment of rent for halls of residence.
Same T&C’s as tuition fee loan
For 2017/18 applications, details from tax year 2015/16 are used.
If studying overseas as part of a UK course, Maintenance Loan support is still available
A student is considered independent if:
• They’ve been married or formed a civil partnership before the start of the academic year even if that marriage or civil partnership has ended.
• They have no living parents.
• They’ve supported themselves for at least three years before the start of their course.
• They’ve not communicated with their parents for one year before the beginning of the academic year for which they are applying for support, or can demonstrate a permanent estrangement from their parents.
• Their parents cannot be traced or it is not practical or possible to contact them.
• Their parents live outside of the EC and an income assessment would put them in jeopardy, or if not reasonably practicable for them to send funds to the UK if a contribution were assessed.
Earned income includes:
wages, salaries, tips, and other taxable employee pay.
long-term disability benefits received prior to minimum retirement age.
net earnings from self-employment.
Unearned income includes:
interest from savings (only the annual summary is required)
benefits and Pensions
rent from property or a room

7. STUDENT FINANCE Loan repayments
Repayment is 9% on any earnings above the £21,000 threshold
Gross Salary
Monthly Gross salary
Monthly Repayment
Up to £21,000
Up to £1,750 £0
£22,000
£1,833 £7
£25,000
£2,083
£30
£30,000
£2,500
£67
£35,000
£2,916
£105
£40,000
£3,333
£142
£50,000
£4,166
£217
Loans for Tuition fees and Maintenance will usually not be expected to be repaid until students have left their course (usually this is the April afterwards) and have an income of £21,000 or more per year; repayments will be made at a rate of 9% of any income over this threshold. If the income drops below £21,000, repayments will stop (although interest may still accrue on the balance). If there is any loan balance left thirty years after students were due to start making repayments, this will be written off. For more information visit the Student Loan Repayment website.
Interest Rates: RPI + up to 3%
If earnings fall below £21,000 a year, repayments are suspended.
Any outstanding balance is cleared after 30 years.

8. STUDENT FINANCE Nursing, Midwifery and AHP funding 2017/18
Following a consultation on funding for nursing, midwifery and allied health professional (AHP) students, the government is planning the following for those started course in 2017/18:
‘Home’/ UK students can apply to Student Finance England (SFE) for a Tuition Fee Loan to cover fees and a Maintenance Loan to help with living costs.
Support for childcare costs – an additional payment of £1,000 each year for students with child dependents to reflect higher costs while undertaking clinical placements.
Support for travel and dual accommodation – the Department of Health will provide students with £303 that they would have to pay upfront before they can access further non-repayable funding support. The government will also cover the cost of students who have to pay for secondary accommodation whilst attending clinical placements if the case for educational provision and value for money is demonstrated.
Further details will be available soon.

9. STUDENT FINANCE University Bursaries and Scholarships
A bursary is a non-repayable grant from the university you choose to study at, usually based on financial need
Scholarships are similar, but usually based on ability/achievement
Do your research – offers will vary widely between universities but there is likely to be generous funding available

10. STUDENT FINANCE The University of Northampton Bursary
The University of Northampton Bursary will be paid to eligible ‘Home’ and EU students who commence a full-time undergraduate course paying fees of £9,250 in 2017/18.
Students must have an assessed household income of £25,000 or less in order to qualify for the £500 bursary.
The bursary is available for each year of study.
The bursary is paid in two instalments usually March and June.
The University of Northampton Bursary will be paid to eligible students who commence a full time undergraduate course paying £9,000 in 2016/17 (eligibility criteria apply).
This is an income related bursary and does not have to be repaid. It will not affect payment of a student’s maintenance loans.
Continuing students from previous academic years whose circumstances remain unchanged will remain on their existing bursary scheme.
Who is eligible for the University of Northampton Bursary?
To meet the eligibility criteria for the University of Northampton Bursary in 2016/17 you must:
Commence your undergraduate course in 2016/17
Be a home or EU student
Be paying tuition fees of £9,000 in 2016/17
Have made arrangements to pay your fees, either by loan, yourself, your parents or another sponsor and adhered to the payment arrangement
Have a household income of £25,000 or less per year
Be enrolled and attending as a full time student on a BA, BSc or PGCE course (see exceptions below)
Be eligible for student support under UK student support regulations

11. The University of Northampton Scholarships
FINANCES…
The University of Northampton Scholarships
+ High Achievers BTEC/Access Scholarship
Up to £1000 for the first year of study
Applicants must achieve DDM+ to be eligible for the award*
+ High Achievers A Level Scholarship
Up to £1000 for the first year of study
Open to applicants who are predicted, and achieve,
ABB+ from three A Levels*
+ Terms and Conditions apply for all scholarships – see university websites for full details
BTEC scholarship
Up to £1000 for first year of study
Applicants must achieve DDM+ to be eligible for the award.
applicants who accept an unconditional firm offer are automatically eligible for the scholarship.
 350 available for BTEC/Access
High Achievers scholarship
Open to applicants who are predicted, and achieve, ABB+ from three A-levels.
75 for A-levels
Those with a combination of subjects are assessed on case by case basis – still auto assessed.

12. STUDENT SUPPORT Additional Allowances
Students with children, adult dependants, childcare and/or disabilities may be entitled to apply for additional non-repayable allowances from Student Finance England:
Parents’ Learning Allowance
Childcare Grant
Adult Dependants Grant
Disabled Students’ Allowance (DSA)
NHS
NHS Courses- additional £1k grant available for students with children – no specific info given e.g means tested/per child?
Extra help
Check on the student finance calculator to see what extra help you might be able to get.
Students on a low income
You can apply for:
Income Support
extra help if you’re experiencing financial hardship
Students with children or dependent adults
Childcare Grant - full-time students only
Parents’ Learning Allowance - full-time students only
Adult Dependants’ Grant - full-time students only
Child Tax Credit
Disabled students
If you have a disability, long-term health condition, mental health condition or specific learning difficulty (such as dyslexia) you can apply for:
Disabled Students’ Allowances
You may also qualify for disability related benefits.
Students now have to pay £200 towards a laptop but can claim it back from us (financial assistance fund)

13. STUDENT FINANCE Budgeting
Budgeting for your living costs at university….
Maintenance loan
Bursaries
Part-time work
Student Ambassador/Campus jobs
Parental contributions
Student Bank account
Article: Financial experts say most students would benefit from interest-free overdrafts ahead of any incentives that dominate marketing to freshers.
Students could find themselves paying over £150 a year extra in overdraft charges with some accounts.

14. STUDENT FINANCE How to apply?
Applications for financial support from Student Finance are made online at:
Applications open early 2017 for courses starting Sept Assessments can take approx. 6-8 weeks
Before starting an application, have the following to hand:
Passport or Birth Certificate - 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
Sign and return declaration

15. STUDENT FINANCE Household Income
SFE will need details of a student’s parents’ or other sponsor’s household (taxable) income and National Insurance numbers.
Taxable earned income includes*:
wages, salaries, tips, and other taxable employee pay
long-term disability benefits received prior to minimum retirement age
net earnings from self-employment
Taxable unearned income includes*:
interest from savings (only the annual summary is required)
benefits and pensions
rent from property or a room

16. STUDENT FINANCE Further Information
Student Finance England Helpline:
There is also a student finance calculator available at
University financial guidance and scholarships teams
UCAS budget calculator: