1. Elizabeth Fleming 12th July 2017
Student Finance
Elizabeth Fleming
12th July 2017

2. Study something you’re passionate about Learn from the experts
What are the benefits?
Develop new skills
e.g. teamwork, communication, time management, leadership, innovation
Meet new people
Try new things
Study something you’re passionate about
Learn from the experts
bristol.ac.uk

3. bristol.ac.uk

4. 71% of graduate jobs don’t ask for specific degree subjects
Employment rate of working age population is 87.1% for graduates, 69.8% for non-graduates.
Median salary of working age population is £31,500 for graduates, £22,000 for non-graduates.
Source: Graduate Labour Market Statistics: 2015, Department for Business, Innovation and Skills, April 2016
71% of graduate jobs don’t ask for specific degree subjects
Source: The AGR Annual Survey 2015
Increase job and salary prospects
Some careers demand an HE qualification
bristol.ac.uk

5. Student finance
bristol.ac.uk

6. The costs of university
Tuition fees
Up to £9,250 per year
Can charge less
Potential to increase annually in line with latest policy
Sounds scary but…
Living costs
Everything it costs to live as a student
funding/advice/living-expenses/
bristol.ac.uk

7. Tuition fee loan
No upfront cost Paid directly from the government to the university Non means tested Available for part time study
bristol.ac.uk

8. Maintenance loan available to all Paid directly to student
Living costs loan
Maintenance loan available to all
Paid directly to student
Not everybody gets same amount, depends on:
- where you study and live
- your household income
- full time or part time study
bristol.ac.uk

9. 2017 entry Maintenance loan Household Income Parental Home Elsewhere
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
£65,000 & over
£3,928
£6,076
bristol.ac.uk

10. You are charged interest on your loans
Interest rates
You are charged interest on your loans
The amount is variable as follows:
Whilst studying = inflation (RPI) + 3%
Whilst working and earning less than £21,000 = inflation
Whilst working and earning between £21,000 and £41,000 = inflation + up to 3%
Whilst working and earning over £41,000 = inflation + 3%
bristol.ac.uk

11. Your tuition fee and maintenance loans and interest are added together
Repaying the loans
Your tuition fee and maintenance loans and interest are added together
You only repay if you are earning over £21,000 per year
You pay 9% of any income over £21,000
£25,000 - £21,000 = £4000
9% of £4000
£360 a year or £30 a month
bristol.ac.uk

12. If your salary drops below £21,000 a year you stop paying
Repaying the loans
If your salary drops below £21,000 a year you stop paying
Not everybody pays it all back (you are not expected to!)
Any remaining loan is wiped off after 30 years
bristol.ac.uk

13. Repaying the loans Income each year before tax
Income from which 9% is deducted
Monthly Repayment (Approx)
£21,000 £0
£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
£60,000
£39,000
£292
bristol.ac.uk

14. Bursaries and scholarships
Fee-charging universities offer bursaries, but they are all different
Like a grant, bursaries are yours to keep
Universities also offer various scholarships, e.g. for excelling in a certain area
bristol.ac.uk

15. University of Bristol bursary
For each year of study:
Household Income
Bursary Amount
Below £25,000
£2,000
Between £25,001 and £30,000
£1,500
Between £30,001 and £35,000
£1,250
Between £35,001 and £40,000
£750
Between £40,001 and £42,620
£500
bristol.ac.uk

16. Other sources of funding
NHS bursaries have changed a lot in recent years
Specific grants available
- Disabled Students’ Allowance, Adult Dependants’ Grant, Care Leavers Grant, Childcare Grant, Parents’ Learning Allowance
Special support grant
Extra help for teacher training students
Charities or employers
Part-time work
bristol.ac.uk

17. The debt won’t affect your credit rating
Summary
University is expensive, but there is a lot of support available to cover these costs
The amount students repay depends on their salary; they only pay back their loans when they can afford to
The debt won’t affect your credit rating
University is an investment if you make the most of the opportunities
bristol.ac.uk

18. Online at www.gov.uk/studentfinance
How to apply
Online at
For 2017 entry – deadline of 31st May 2017
You don’t need a confirmed university place
Easier to change details at a later date
Agree to share information from your application
Will need to be supported by parent(s)/carer(s)
bristol.ac.uk

19. Have you considered Higher Education?
Every year hundreds of mature students join the University of Bristol Interested in learning? Improve your employability?
Getting back into study…
Access to HE Diploma at a local college
Advanced Learner Loan available learner-loan/overview
Foundation Year in Arts and Humanities
A range of degrees at a world class university which is targeted by employers
Key messages:
The University of Bristol welcomes mature students
Challenge the perception that studying is just for year olds
There is funding available, even for level 3 study (eligibility applies)
Each year approx. 230 – 260 mature students join the University from a variety of backgrounds.
State that the university welcomes and values mature students from any background. They can bring a wealth of life experience and are confident enough to ask questions and enrich group learning. They can make the university experience whatever they would like.
Most FE colleges run Access to HE courses – these are a coursework based qualification for adult learners looking to get back into education. For those over 19 years old. Universities respect this qualification. Available in a variety of streams from art and humanities, to science, to engineering. Funding is available in the form of an advanced learner loan. If they do an access course and then progress to HE then the loan is written off. Eligibility can be found on the gov website above.
Info about the foundation year in arts and humanities -
Also the BA English Language and Community Engagement is taught in the evenings over 6 years.

20. Thank you Any questions?
@ChooseBristolUG
bristoluniversity
UniversityofBristol
UniversityofBristol
bristol.ac.uk/vip