1. East Norfolk Sixth Form College FINANCIAL SUPPORT FOR HIGHER EDUCATION STUDENTS 2008/2009 data shown (assume inflation type increase for 2009 HE entry)

2. Repayable after graduation and when your income for a year is more than £15,000:- Tuition Fee Loans Maintenance Loans - for living costs Repayable help

3. fees loan £3145 max maintenance loan £4625 max +£3470 £61063£73000 +£4625 Loans family income

4. Universities and Colleges can charge variable amounts up to £3,145 a year. Students eligible for support do not have to pay fees while studying. Instead they can take up a loan for fees, repayable after graduation. The amount of fee loan does not depend on income and can cover the amount charged up to £3,145. Tuition Fees

5. Maintenance Loan Living away from home and studying in London £6.475 Living away from home and studying outside London £4,625 Living at parents’ home£3,580

6. Maintenance Loans If you get a Maintenance Grant the maximum Maintenance Loan is reduced by £1,260 or the amount of grant payable, whichever is less. If the household income is between £60,005 and £73,000 the maximum loan is reduced by up to 25%. E.g. £71,000 = £3,579 loan (living away from home & outside London) The maintenance loan is paid to the student in three instalments

7. Maintenance Grant - for living costs Additional grants in some cases (e.g disability or child care) Extra help from the University/College as bursary Non-repayable help

8. £60005 Grant £2835 max £25000 Bursary £1000 average Grant & Bursary family income

9. Maintenance Grant Household incomeAmount of grant Below £25,000Full grant £2,835 £25,001 to £60,000Partial grant Above £60,005No grant

10. Maintenance Grants Up to £2,835 per year Assessed on household income:- Up to £1,260 of the grant is paid in place of part of the Maintenance Loan. The grant is paid to the student in three instalments.

11. Bursaries The University/College must give at least £310 to a student getting the full maintenance grant of £2,835 and being charged tuition fees of £3,145. Many are offering much more than the minimum of £310. Many Universities/Colleges offer bursaries to students other than just those mentioned above. Amounts and qualifying criteria vary between individual Universities and Colleges. Students are advised to find out what is on offer at the Universities/Colleges in which they are interested.

12. £3145 max £4625 max £3470 £61063 £73000 £3365 £35450£60005 Loans £3145 max Loan element replaced by non-repayable grant family income maintenance loan fees loan

13. £3145 max £4625 max £3470 £61063 £73000 £3365 £35450£60005 Overall £25000 £2835 Bursary £1000 avg £3145 max Assumed difference made up by family grant (not repayable) maintenance loan fees loan family income

14. Access to Learning Universities/Colleges have limited funds available to provide extra financial help, assessed on students’ individual needs and circumstances.

15. Health related NHS There are different financial support arrangements for students with NHS funded places on courses related to health professions (e.g. Nursing, Occupational Therapy, Physiotherapy, Chiropody, Dietetics, etc.) Tuition fees will normally be paid in full by the NHS. Living costs You can apply to the NHS Student Grants Unit for an income-assessed Bursary. You can also apply for a Maintenance Loan of up to approximately 50%. This will not be assessed on income. The same arrangements apply for part of a degree course in Medicine or Dentistry - normally after Year 4.

16. Repayments You will not have to start repaying your loans for fees and/or maintenance until the April after you have finished or left your course and your annual income is over £15,000. The amount you repay will be linked to your income. Each year you will be expected to repay 9% of any income over £15,000. For example, if your income for the year is £18,000 you would repay £270 in that year (£5.19 a week).

17. Repayments The rate of interest is linked to inflation, so the amount you repay will be the same, in real terms, as the amount you borrowed. Repayments are normally collected through the tax system. Your employer will make deductions from your pay in the same way as for Income Tax and National Insurance contributions. The Government will write off any unpaid balances (except for arrears) after 25 years.

18. More information Student Finance Direct Website : www.direct.gov.uk/studentfinance Student finance calculator Website : / www.studentfinancedirect.co.uk then choose “I am planning to go into HE” and “Calculate my entitlement” NHS Student Grants Unit Website : www.nhsstudentgrants.co.uk