1. Richard Wiltshire Higher Education Adviser
Student Finance entry Online application system opened on February 25th 2019
Richard Wiltshire Higher Education Adviser

2. Student Finance - Contacts/resources
Apply for Student Finance
for queries
Student Finance calculator
EU Students – for queries
SFE’s ‘chosen’ website for resources
Practitioners site – recommended by advisers
Money Saving Expert – for student budgeting & best bank accounts
Standalone For people who are estranged from their family
Apply for NHS and Social Work Bursaries
– for queries

3. WARNING – this can CONFUSE you rather than provide CLARITY
WARNING – this can CONFUSE you rather than provide CLARITY

4. The online application
This talk will cover
The online application
Tuition Fee Loan
Maintenance Loan
Extra Support
INITIALLY FORM PN1 IS THE ONLY FORM THAT NEEDS TO BE COMPLETED AND 28 PAGES LATER APPLICANTS ARE ABLE TO GAIN ACCESS TO THE FOUR MAIN ELEMENTS OF THE FUNDING SCHEME…..
THE TUITION FEE LOAN
THE MAINTENANCE GRANT
THE LIVING COST LOAN
AND OTHER SUPPORT
Bursaries – based on low household income

5. Scholarships – extra money from Uni’s
Repaying the loans
Accommodation costs - time to start budgeting
Supporting materials

6. The online application
Parents are part of this process
Please complete this form together
Start your application NOW Complete and submit it by – End of May 2019
You must update your application for each year of your course
Some of your details may alter – especially household income

7. Keep safe. You need it when you talk to SFE.

8. Valid means ‘in date’.
See next slide

10. Previous answers can be changed
Previous answers can be changed. Keep checking that you are happy with each answer

11. You don’t need a confirmed place to apply
Apply with your PREFERRED CHOICE, you can change details later

13. Non repayable - IT IS A GIFT
Always keep this box ticked

15. The usual answer is NO

17. £9,250 Tuition Fees - 2019 England
NOW WE ARE GOING TO START LOOKING AT EACH OF THE FOUR MAIN AREAS OF FINANCIAL SUPPORT AVAILABLE TO STUDENTS – STARTING WITH THE TUITION FEES
A Review is currently taking place for 2019 starters which may reduce this Tuition Fee

18. Doctor or Dentist (from 5th year)
Sponsored Bursaries 2019
NHS Bursaries 2019
– for queries
Tuition Fees + Means Tested Bursaries + Grant
for:
Doctor or Dentist (from 5th year)

19. Apply for Social Work Bursaries in March/April 2019
– for queries

20. Cap on the number of bursaries offered !
Social Work Degrees
Year 1
Apply for support from No bursaries available
Years 2 and 3
Apply to Non income assessed bursary
Amounts not yet known for 2019
2018 bursaries were:
£ 3, for Universities outside London
£ 3, For Universities in London
Cap on the number of bursaries offered !

21. Tuition Fee Loan
You DO NOT have to pay your fees upfront UK and EU citizens
UK citizens entitled to FULL FEE LOAN [EU citizens - in EU for 3 years]
Fees are NOT income assessed = NOT means tested
Fees paid directly to the university by
Most Universities will charge up to £9250
Welsh Universities charge £9000

22. EU Students and Loans - 2019 www.gov.uk/student-finance-forms
EU Students – for queries

23. Tuition Fee Loan - 2019 Some Exceptions
Local Colleges offering Degrees often charge less
- If you go to a privately funded College/University the maximum fee loan from is £6,165 for 2019 entry
Some examples:
Tuition fee £7,650 / year – 2019 figure
Tuition fees: for 2 year accelerated degree
£6,995 year 1 – 2018 figure
£9,000 year 2 – 2018 figure
Bursaries available
Bursaries available

24. Maintenance Loan - 2019 Applicants can borrow up to:
Assessed on Parents income = means tested
Applicants can borrow up to:
£11,672 study in London (up by £318)
£8,944 study outside London (up by £244)
£7,529 live at home - travel daily (up by £205)
Paid to student in 3 instalments – Sept, Jan, April
2.8% increase
on loan given to 2018 starters

25. i SUPPORTING AN APPLICATION HOUSEHOLD INCOME
If you’re supporting an application for student finance that depends on
household income, SFE will need details of your taxable income and National
Insurance number.
If you’re the parent of a student and live with your partner, they’ll also have to
give us details of their taxable income and National Insurance number.
Taxable earned income includes*:
wages, salaries, and other taxable employee pay – P60 [2017/2018 tax year]
long-term disability benefits received prior to minimum retirement age
net earnings from self-employment – Self Assessment Returns
Taxable unearned income includes*:
interest from savings (only the annual summary is required)
benefits and pensions
rent from property
This slide gives information for parents and partners of students who are supporting an application for student finance. You can skip this slide if you’re not presenting to parents/partners.
*More details/information can be found on the HMRC website: i

26. Maintenance Loan rates - 2019
Actual money you will get as a loan AFTER household income
has been assessed i
Household Income
Home
Elsewhere
London
£25,000 & under
£7,324
£8,700
£11,354
£30,000
£6,707
£8,076
£10,719
£35,000
£6,090
£7,452
£10,084
£40,000
£5,473
£6,828
£9,449
£45,000
£4,855
£6,204
£8,813
£50,000
£4,238
£4,955
£8,178
£55,000
£3,621
£4,799
£7,543
£58,215 and over (Home)
£62,212 and over
£69,860 and over
£3,314 Basic Loan
[not income assessed]
£4,168 Basic Loan
[not income assessed]
£5,812 Basic Loan
[not income assessed]

27. This is the basic maintenance loan for 2018 entrants living away from home and NOT London. The figure for 2019 entrants is £4,168
This takes you to the next question – see next slide

28. This is the higher maintenance loan for 2018 entrants living away from home and NOT London. The figure for 2019 entrants is £8,954

29. Student Finance calculator

30. Interest charged on the loans
Review currently taking place for 2019 starters could reduce these interest amounts
Interest is applied to your loan at a maximum rate of RPI +3%
More info can be found on: i a
RPI (retail Price Index) is a measure of UK inflation
Interest is updated annually in September using March’s RPI
RPI was 2.8% in March 2018

31. Extra Support
TO SUPPORT STUDENTS WITH THE INCREASED COST OF TUITION FEES THE GOVERNMENT INTRODUCED TUITION FEE LOANS FROM SEPTEMBER OF LAST YEAR…
MORE DETAILS ON STUDENT LOANS GENERALLY IS COMING UP LATER IN THE PRESENTATION

32. Disabled Student’s Allowance
Is NOT affected by the household income
If you have:
a disability
long-term health condition
mental-health condition
specific learning difficulty
You may get extra Financial help
Identifies specific needs in relation to your studies
Non repayable - IT IS A GIFT
TO SUPPORT STUDENTS WITH THE INCREASED COST OF TUITION FEES THE GOVERNMENT INTRODUCED TUITION FEE LOANS FROM SEPTEMBER OF LAST YEAR…
MORE DETAILS ON STUDENT LOANS GENERALLY IS COMING UP LATER IN THE PRESENTATION

33. University Scholarships/Bursaries
Bursaries – Make sure you claim this
Linked to personal circumstances
Most linked to household income
You get: - Discounted tuition fees (called Fee Waivers) GOOD
- Cash BETTER
- Discounted Accommodation BEST
Scholarships - Make sure you claim this
- Linked to academic results OR
- Abilities in sport, music, dance, drama etc
Each university/College will decide the criteria for eligibility
Visit Money and Funding links on University sites
Non repayable - IT IS A GIFT
TO SUPPORT STUDENTS WITH THE INCREASED COST OF TUITION FEES THE GOVERNMENT INTRODUCED TUITION FEE LOANS FROM SEPTEMBER OF LAST YEAR…
MORE DETAILS ON STUDENT LOANS GENERALLY IS COMING UP LATER IN THE PRESENTATION

36. Closing date May 2nd 2019 Bursary Scheme Who can apply:
Who can apply:
Young people experiencing barriers to continuing their education
Able to demonstrate that they face severe financial hardship
How much could I receive:
Up to £2250 bursary provided in instalments during time in HE
Closing date May 2nd 2019

37. SUMMARY OF GOVERNMENT FUNDING
REPAYABLE:
Tuition Fee LOAN
Living cost LOAN *
NON-REPAYABLE:
University BURSARY *
University SCHOLARSHIP
NHS sponsored BURSARY *
(Doctor/Dentist)
Disabled Students Allowance
* how much you get depends on household income

38. It’s time to start comparing costs
Accommodation
It’s time to start comparing costs
Just Google:- Go Compare University Accommodation
Or check the accommodation pages of your chosen Universities

41. Repaying the loans

42. Loan Repayments – 2019 starters
SLIDE 1
You pay no money up front
Earn OVER £25,000 - repayments START
Earn under £25,000 - repayments STOP
Earn average UK salary - you repay £0.00/week
Interest is charged on the loan – RPI + up to 3%

43. Loan Repayments – 2019 starters
After 30 years ALL your loan written off
Loans are ‘Government secured lending’
THEREFORE
Loans DO NOT go on Credit Files
No-one will come knocking
If you are medically unable to work or die?
Loan written off
Most people will NEVER pay all loans back
Loan belongs to student – NOT parents or family

44. You repay 9% of your income
After graduating
You repay 9% of your income
Over £25,000
INITIALLY FORM PN1 IS THE ONLY FORM THAT NEEDS TO BE COMPLETED AND 28 PAGES LATER APPLICANTS ARE ABLE TO GAIN ACCESS TO THE FOUR MAIN ELEMENTS OF THE FUNDING SCHEME…..
THE TUITION FEE LOAN
THE MAINTENANCE GRANT
THE LIVING COST LOAN
AND OTHER SUPPORT
Deducted from your wages

45. Loan Repayments – 2019 starters
Income each year before tax
9% will be deducted from
Monthly Repayment (Approx)
£25,000 £0
£29,000 £?
Link to page is Live!
A basic way of working out the monthly repayment would be to divide £4,000 by 12 giving £ and that by 9% giving a monthly payment of £30.
The interest rate is updated once a year in September, using the rate of RPI from March. RPI as of March 2014 was 2.5% so new students (Sept 14) will be charged 5.5% while in their first year of study. Details on this can be found on the repayment website
Full Time Student Interest
While studying until entering repayment = RPI +3%
On Entering repayment interest is linked to earnings
Under £21,000 = RPI Only
£21,000 to £41,000 = RPI + up to 3%
Over £41,000 = RPI + 3%
Part Time RPI
While studying on a course until whichever comes first of:
The April after graduating or leaving a course; or
The April after the fourth anniversary of the start of a course - RPI + 3%
From the April after graduating or leaving a course, or after the fourth anniversary of the start of a course, but before April RPI
Income
£29,000
9% Deducted from?
£4,000
Monthly
Repayment?
£30

46. Typical UK Monthly Wage Slip

47. Income each year before tax Monthly Repayment (Approx)
STUDENT LOAN REPAYMENTS
THE FIGURES FOR 2019 University starters
Income each year before tax
9% will be deducted from
Monthly Repayment (Approx)
£25,000 £0
£30,000
£5,000
£37
£40,000
£15,000
£112
£50,000
£187
£60,000
£35,000
£262
Link to page is Live!
A basic way of working out the monthly repayment would be to divide £4,000 by 12 giving £ and that by 9% giving a monthly payment of £30.
The interest rate is updated once a year in September, using the rate of RPI from March. RPI as of March 2014 was 2.5% so new students (Sept 14) will be charged 5.5% while in their first year of study. Details on this can be found on the repayment website
Full Time Student Interest
While studying until entering repayment = RPI +3%
On Entering repayment interest is linked to earnings
Under £21,000 = RPI Only
£21,000 to £41,000 = RPI + up to 3%
Over £41,000 = RPI + 3%
Part Time RPI
While studying on a course until whichever comes first of:
The April after graduating or leaving a course; or
The April after the fourth anniversary of the start of a course - RPI + 3%
From the April after graduating or leaving a course, or after the fourth anniversary of the start of a course, but before April RPI

48. Earnings
Previous System 2011 entry
Current system
Annual Repayment
Taken from your
Monthly pay packet
£15,000
Nothing
£16,000
£90 £7
£21,000
£540
£45
£22,000
£630
£52
£30,000
£1,350
£112
£444
£37

49. Supporting Materials

53. Student Finance - Contacts/resources
Apply for Student Finance
for queries
Student Finance calculator
EU Students – for queries
SFE’s ‘chosen’ website for resources
Practitioners site – recommended by advisers
Money Saving Expert – for student budgeting & best bank accounts
Standalone For people who are estranged from their family
Apply for NHS and Social Work Bursaries
– for queries

54. Student Finance 2019 entry Thank you for listening
Richard Wiltshire Higher Education Adviser

55. Studying abroad